View Information Collection Request (ICR) Package

OMB Control No: 1505-0164	ICR Reference No: 202412-1505-003
Status: Historical Active	Previous ICR Reference No: 202406-1505-003
Agency/Subagency: TREAS/DO	Agency Tracking No:
Title: Reporting, Procedures and Penalties Regulations
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 02/24/2025
Retrieve Notice of Action (NOA)	Date Received in OIRA: 12/30/2024
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/29/2028	36 Months From Approved	02/28/2025
Responses	2,502,086	0	137,084
Time Burden (Hours)	86,223	0	44,372
Cost Burden (Dollars)	0	0	0

Abstract: Submissions will provide the U.S. Government with information to be used in enforcing various economic sanctions programs administered by OFAC under 31 CFR Chapter V.

Authorizing Statute(s): US Code: 50 USC 1701-1706 Name of Law: International Emergency Economic Powers Act
   US Code: 22 USC 287c Name of Law: United Nations Participation Act of 1945
   US Code: 50 USC 4301 Name of Law: Trading with the Enemy Act

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:
	89 FR 74375	09/12/2024
30-day Notice:	Federal Register Citation:	Citation Date:
	89 FR 105687	12/27/2024
Did the Agency receive public comments on this ICR? No

ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to Agency Discretion	Change Due to Adjustment in Estimate
Annual Number of Responses	2,502,086	137,084	2,365,002	0
Annual Time Burden (Hours)	86,223	44,372	44,274	-2,423
Annual Cost Burden (Dollars)	0	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 estimated responses represent a significant increase from the 137,084 responses in the previously emergency approval request for this authority (see reference tables in supporting statement). First, OFAC is consolidating several information collection requests into this submission, which accounts for a significant portion of the increase in number of responses. In particular, the new estimate of 1,800,000 responses for certifications required in relation to Cuba remittance services (1505-0167), 565,000 responses for certifications required in relation to Cuba travel services (1505-0168), and two responses for reports associated with closing correspondent accounts (1505-0243 and 1505-0255), which were previously included in separate information collection requests. The increase in responses will be effectively offset when the OMB Control Numbers for the historical ICRs are discontinued. The consolidation of collection 1505-0170, Application for the Release of Blocked Funds (TD-F 90-22.54), did not result in an increase in number of responses because the estimated number of responses, 9,700, was previously included in the estimated responses for the number of Licensing Cover Sheets (TD-F- 90-22.61) in the emergency approval request for this authority. However, because the estimated burden for an Application for the Release of Blocked Funds is higher than the estimated burden for a Licensing Cover Sheet, the changes in burden and estimated cost are included in this ICR. The burden of the recordkeeping requirements imposed pursuant to 31 CFR § 515.572 with respect to Cuba-related travel and remittances is assessed to be negligible (one minute or less) as the certification that is collected and stored for each relevant transaction may be in any form (as determined by the authorized remittances or travel services providers). Numerous factors are relevant with respect to calculating the estimated burden associated with the information collection and recordkeeping requirements associated with this collection. Of necessity, OFAC utilizes historical burden data in forecasting future burden hours. In future years, OFAC expects that new sanctions programs may be created, or additional prohibitions imposed under existing programs, and other programs or prohibitions may be terminated, which may slightly increase or decrease the burden associated with this collection authority. The creation of new programs or prohibitions, or the elimination of programs or prohibitions, are difficult to estimate as these changes are often responding to specific and unforeseeable foreign policy developments and considerations. However, these changes may have an impact on the time and cost estimates under this collection authority. At the same time, OFAC has been working to streamline the reporting process, and to update its technologies to assist submitters in the reporting process with a view toward reduction of the overall burden on submitters of required reports. For example, the ORS electronic reporting system, which was recently mandated for certain reports, continues to reduce the burden of submitting certain required reports for many submitters, including many large, higher-volume filers. OFAC expects this small burden reduction trend to continue as more submitters utilize ORS and reporting of additional forms and information becomes available via ORS in the future. In addition, OFAC continues to finetune its methodology for calculating burden in an effort to be more precise and accurate in its burden estimates and calculations.

Annual Cost to Federal Government: $4,440,209

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. Yes

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: Katherine Gupta 202 622-2148 katherine.gupta@treasury.gov

View ICR - OIRA Conclusion