View Information Collection Request (ICR) Package

OMB Control No: 1559-0046	ICR Reference No: 202212-1559-001
Status: Active	Previous ICR Reference No: 201506-1559-006
Agency/Subagency: TREAS/CDFIF	Agency Tracking No:
Title: Annual Certification and Data Collection Report Form
Type of Information Collection: Reinstatement with change of a previously approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved with change	Conclusion Date: 09/28/2023
	Date Received in OIRA: 12/14/2022
Terms of Clearance: Supporting statement updated during review.

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	09/30/2026	36 Months From Approved
Responses	2,210	0	0
Time Burden (Hours)	44,200	0	0
Cost Burden (Dollars)	0	0	0

Abstract: The primary intent of the Annual Certification and Data Collection Report Form is to ensure that Community Development Financial Institutions (CDFI) continue to meet the requirements to be certified CDFIs. It is also an annual method to ensure that organizational information is up-to-date. The financial and portfolio data will be used by the CDFI Fund to gain insight on the CDFI industry. Information provided in these sections will not impact a CDFI's certification status or applications for CDFI Fund programs.

Authorizing Statute(s): US Code: 12 USC 4701

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 45301	07/27/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	87 FR 76541	12/14/2022
Did the Agency receive public comments on this ICR? No

ICR Summary of Burden

	Total Approved	Change Due to Agency Discretion	Change Due to Potential Violation of the PRA
Annual Number of Responses	2,210	1,360	850
Annual Time Burden (Hours)	44,200	37,400	6,800
Annual Cost Burden (Dollars)	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The CDFI Fund has made substantial changes to the data collected as part of the Certification Application and annual Recertification process. The adjustment in agency estimate of burden hours for the ACR is due to a substantial increase in the aggregate number of respondents from 1,085 to 1,463. This change is based on an increase in the number of currently Certified CDFIs since the PRA renewal process began in May 2020. The estimated average hours for CDFIs to complete the ACR increased by 6 hours to a total of 20 hours from the initial 60-day Comment Period estimate of 14 hours. This increase was based on public comment about how long it would actually takes to gather all of the necessary information and then enter it, as well as additional questions added to the ACR to make it further aligned with the CDFI Certification Application. For the abbreviated TLR, there are changes in the estimate of burden hours due to changes in the number of respondents, as well as the hours per response. The number of non-financial assistance Certified CDFIs seeking recertification through the ACR and thus required to submit the abbreviated TLR declined from 700 to 597. This change is due to an increase in the number of Certified CDFIs who are FA recipients and required to submit the TLR as part of their Assistance Agreement requirements since May 2020. With more currently Certified CDFIs submitting the TLR, there are fewer who need to submit the abbreviated TLR. Regarding the increase in hours per response from eight (8) to twenty (20), this change is due to additional data fields on the abbreviated TLR compared to the original CTLR. These additional data fields are necessary to check that the financial products being entered as transactions on the TLR to count towards Target Market activity to meet the Certification policy standards for acceptable Financial Products. Some of these additional data fields are only applicable to certain types of Financial Products and thus do not require a response for every transaction. For example, if a Certified CDFI does not need to input Financial Services in order to meet its Target Market thresholds then Certified CDFI is able to skip an entire section of the abbreviated TLR. There was also public comment that the CDFI Fund’s burden hours were too low and not reflective of all the stages necessary to collect the information to enter into the abbreviated TLR.

Annual Cost to Federal Government: $753,898

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination. Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination. No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

Agency Contact: Shannon McKay 999 999-9999 mckays@cdfi.treas.gov

View ICR - OIRA Conclusion