81 FR 88003 - Office of the Assistant Secretary for International Affairs; Survey of U.S. Ownership of Foreign Securities as of December 31, 2016
DEPARTMENT OF THE TREASURY Federal Register Volume 81, Issue 234 (December 6, 2016)
Federal Register Volume 81, Issue 234 (December 6, 2016)
| Page Range | 88003-88003 | |
| FR Document | 2016-29180 |
[Federal Register Volume 81, Number 234 (Tuesday, December 6, 2016)] [Notices] [Page 88003] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-29180] ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Office of the Assistant Secretary for International Affairs; Survey of U.S. Ownership of Foreign Securities as of December 31, 2016 AGENCY: Departmental Offices, Department of the Treasury. ACTION: Notice of reporting requirements. ----------------------------------------------------------------------- SUMMARY: By this Notice and in accordance with 31 CFR 129, the Department of the Treasury is informing the public that it is conducting a mandatory survey of ownership of foreign securities by U.S. residents as of December 31, 2016. This Notice constitutes legal notification to all United States persons (defined below) who meet the reporting requirements set forth in this Notice that they must respond to, and comply with, this survey. The reporting form SHC (2016) and instructions may be printed from the Internet at: https://www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms-sh.aspx#shc. Definition: Pursuant to 22 U.S.C. 3102 a United States person is any individual, branch, partnership, associated group, association, estate, trust, corporation, or other organization (whether or not organized under the laws of any State), and any government (including a foreign government, the United States Government, a State or local government, and any agency, corporation, financial institution, or other entity or instrumentality thereof, including a government- sponsored agency), who resides in the United States or is subject to the jurisdiction of the United States. Who Must Report: The following U.S. persons must report on this survey:U.S. persons who manage, as custodians, the safekeeping of foreign securities for themselves and other U.S. persons. These U.S. persons, who include the affiliates in the United States of foreign entities, must report on this survey if the total fair value of the foreign securities whose safekeeping they manage on behalf of U.S. persons--aggregated over all accounts and for all U.S. branches and affiliates of their firm--is $200 million or more as of the close of business on December 31, 2016. U.S. persons who own foreign securities for their own portfolios and/or who invest in foreign securities on behalf of others, such as investment managers/fund sponsors. These U.S. persons (referred to as ``end-investors''), who include the affiliates in the United States of foreign entities, must report on this survey if the total fair value of these foreign securities--aggregated over all accounts and for all U.S. branches and affiliates of their firm--is $200 million or more as of the close of business on December 31, 2016. U.S. persons who are notified by letter from the Federal Reserve Bank of New York. These U.S. persons must file Schedule 1, even if the recipient of the letter is under the reporting threshold of $200 million and need only report ``exempt'' on Schedule 1. These U.S. persons who meet the reporting threshold must also file Schedule 2 and/ or Schedule 3. What To Report: This report will collect information on holdings by U.S. residents of foreign securities, including equities, long-term debt securities, and short-term debt securities (including selected money market instruments). How To Report: Copies of the survey forms and instructions, which contain complete information on reporting procedures and definitions, may be obtained at the Web site address given above in the Summary. Completed reports can be submitted electronically or mailed to the Federal Reserve Bank of New York, Statistics Function, 4th Floor, 33 Liberty Street, New York, NY 10045-0001. Inquiries can be made to the survey staff of the Federal Reserve Bank of New York at (212) 720-6300 or email: [email protected]. Inquiries can also be made to Dwight Wolkow at (202) 622-1276, email: [email protected]. When To Report: Data must be submitted to the Federal Reserve Bank of New York, acting as fiscal agent for the Department of the Treasury, by March 3, 2017. Paperwork Reduction Act Notice: This data collection has been approved by the Office of Management and Budget (OMB) in accordance with the Paperwork Reduction Act and assigned control number 1505-0146. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a valid control number assigned by OMB. The estimated average annual burden associated with this collection of information is 17 hours per respondent for exempt respondents, 41 hours per respondent for end- investors and custodians that file Schedule 3 reports covering their securities entrusted to U.S. resident custodians, 121 hours per respondent for large end-investors filing Schedule 2 reports, and 361 hours per respondent for large custodians of securities filing Schedule 2 reports. Comments concerning the accuracy of this burden estimate and suggestions for reducing this burden should be directed to the Department of the Treasury, Attention Administrator, International Portfolio Investment Data Reporting Systems, Room 5422, Washington, DC 20220, and to OMB, Attention Desk Officer for the Department of the Treasury, Office of Information and Regulatory Affairs, Washington, DC 20503 Dwight Wolkow, Administrator, International Portfolio Investment Data Reporting Systems. [FR Doc. 2016-29180 Filed 12-5-16; 8:45 am] BILLING CODE 4810-25-P
![Federal Register / Vol. 81, No. 234 / Tuesday, December 6, 2016 / Notices 88003
Affected Public: Businesses or other constitutes legal notification to all short-term debt securities (including
for-profits. United States persons (defined below) selected money market instruments).
Estimated Total Annual Burden who meet the reporting requirements set How To Report: Copies of the survey
Hours: 810. forth in this Notice that they must forms and instructions, which contain
OMB Control Number: 1545–1070. respond to, and comply with, this
complete information on reporting
Type of Review: Extension without survey. The reporting form SHC (2016)
procedures and definitions, may be
change of a currently approved and instructions may be printed from
the Internet at: https://www.treasury.gov obtained at the Web site address given
collection. above in the Summary. Completed
Title: Effectively connected income /resource-center/data-chart-center/tic/
Pages/forms-sh.aspx#shc. reports can be submitted electronically
and the branch profits tax.
Definition: Pursuant to 22 U.S.C. 3102 or mailed to the Federal Reserve Bank
Abstract: The regulations explain how
a United States person is any of New York, Statistics Function, 4th
to comply with section 884, which
imposes a tax on the earnings of a individual, branch, partnership, Floor, 33 Liberty Street, New York, NY
foreign corporation’s branch that are associated group, association, estate, 10045–0001. Inquiries can be made to
removed from the branch and which trust, corporation, or other organization the survey staff of the Federal Reserve
subjects interest paid by the branch, and (whether or not organized under the Bank of New York at (212) 720–6300 or
certain interest deducted by the foreign laws of any State), and any government email: SHC.help@ny.frb.org. Inquiries
corporation to tax. (including a foreign government, the can also be made to Dwight Wolkow at
Affected Public: Businesses or other United States Government, a State or (202) 622–1276, email: comments2TIC@
for-profits. local government, and any agency, do.treas.gov.
Estimated Total Annual Burden corporation, financial institution, or
other entity or instrumentality thereof, When To Report: Data must be
Hours: 12,694. submitted to the Federal Reserve Bank
including a government-sponsored
OMB Control Number: 1545–0685. agency), who resides in the United of New York, acting as fiscal agent for
Type of Review: Extension without States or is subject to the jurisdiction of the Department of the Treasury, by
change of a currently approved the United States. March 3, 2017.
collection. Who Must Report: The following U.S. Paperwork Reduction Act Notice: This
Title: Export Exemption Certificate. persons must report on this survey: data collection has been approved by
Form: 1363. • U.S. persons who manage, as the Office of Management and Budget
Abstract: IRC section 4272(b)(2) custodians, the safekeeping of foreign
excepts exported property from the (OMB) in accordance with the
securities for themselves and other U.S.
excise tax on transportation of property. Paperwork Reduction Act and assigned
persons. These U.S. persons, who
Regulation section 49.4271–1(d)(2) control number 1505–0146. An agency
include the affiliates in the United
authorizes the filing of Form 1363 by States of foreign entities, must report on may not conduct or sponsor, and a
the shipper to request exemption for a this survey if the total fair value of the person is not required to respond to, a
shipment, or a series of shipments. The foreign securities whose safekeeping collection of information unless it
form is filed with the carrier. It is used they manage on behalf of U.S. persons— displays a valid control number
by IRS as proof of tax exempt status of aggregated over all accounts and for all assigned by OMB. The estimated
each shipment. U.S. branches and affiliates of their average annual burden associated with
Affected Public: Businesses or other firm—is $200 million or more as of the this collection of information is 17
for-profits. close of business on December 31, 2016. hours per respondent for exempt
Estimated Total Annual Burden • U.S. persons who own foreign respondents, 41 hours per respondent
Hours: 425,000. securities for their own portfolios and/ for end-investors and custodians that
Dated: December 1, 2016. or who invest in foreign securities on file Schedule 3 reports covering their
Bob Faber, behalf of others, such as investment securities entrusted to U.S. resident
managers/fund sponsors. These U.S. custodians, 121 hours per respondent
Acting Treasury PRA Clearance Officer.
persons (referred to as ‘‘end-investors’’), for large end-investors filing Schedule 2
[FR Doc. 2016–29198 Filed 12–5–16; 8:45 am]
who include the affiliates in the United reports, and 361 hours per respondent
BILLING CODE 4830–01–P
States of foreign entities, must report on for large custodians of securities filing
this survey if the total fair value of these Schedule 2 reports. Comments
foreign securities—aggregated over all concerning the accuracy of this burden
DEPARTMENT OF THE TREASURY
accounts and for all U.S. branches and estimate and suggestions for reducing
Office of the Assistant Secretary for affiliates of their firm—is $200 million this burden should be directed to the
International Affairs; Survey of U.S. or more as of the close of business on
Department of the Treasury, Attention
Ownership of Foreign Securities as of December 31, 2016.
• U.S. persons who are notified by Administrator, International Portfolio
December 31, 2016 Investment Data Reporting Systems,
letter from the Federal Reserve Bank of
AGENCY: Departmental Offices, New York. These U.S. persons must file Room 5422, Washington, DC 20220, and
Department of the Treasury. Schedule 1, even if the recipient of the to OMB, Attention Desk Officer for the
ACTION: Notice of reporting letter is under the reporting threshold of Department of the Treasury, Office of
requirements. $200 million and need only report Information and Regulatory Affairs,
‘‘exempt’’ on Schedule 1. These U.S. Washington, DC 20503
mstockstill on DSK3G9T082PROD with NOTICES
SUMMARY: By this Notice and in persons who meet the reporting Dwight Wolkow,
accordance with 31 CFR 129, the threshold must also file Schedule 2 and/
Department of the Treasury is informing or Schedule 3. Administrator, International Portfolio
the public that it is conducting a What To Report: This report will Investment Data Reporting Systems.
mandatory survey of ownership of collect information on holdings by U.S. [FR Doc. 2016–29180 Filed 12–5–16; 8:45 am]
foreign securities by U.S. residents as of residents of foreign securities, including BILLING CODE 4810–25–P
December 31, 2016. This Notice equities, long-term debt securities, and
VerDate Sep<11>2014 17:39 Dec 05, 2016 Jkt 241001 PO 00000 Frm 00102 Fmt 4703 Sfmt 9990 E:\FR\FM\06DEN1.SGM 06DEN1](https://thefederalregister.org/doc/81_FR_88237/page/1.svg)
Document Created: 2016-12-06 02:18:34
Document Modified: 2016-12-06 02:18:34
| Category | Regulatory Information | |
| Collection | Federal Register | |
| sudoc Class | AE 2.7: GS 4.107: AE 2.106: | |
| Publisher | Office of the Federal Register, National Archives and Records Administration | |
| Section | Notices | |
| Action | Notice of reporting requirements. | |
| FR Citation | 81 FR 88003 |
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