81 FR 96566 - Proposed Collection; Comment Request
DEPARTMENT OF THE TREASURY Federal Register Volume 81, Issue 251 (December 30, 2016)
Federal Register Volume 81, Issue 251 (December 30, 2016)
| Page Range | 96566-96568 | |
| FR Document | 2016-31651 |
[Federal Register Volume 81, Number 251 (Friday, December 30, 2016)] [Notices] [Pages 96566-96568] From the Federal Register Online [www.thefederalregister.org] [FR Doc No: 2016-31651] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF THE TREASURY Proposed Collection; Comment Request AGENCY: Departmental Offices, Treasury. ACTION: Notice and request for comments. ----------------------------------------------------------------------- SUMMARY: The Department of the Treasury, as part of its continuing effort to reduce paperwork burdens, invites the general public and other Federal agencies to comment on revisions for 2017 of a currently approved information collection that is proposed for approval by the Office of Management and Budget. The Office of International Affairs within the Department of the Treasury is soliciting comments concerning the revision of the Treasury International Capital (TIC) Form SHL/SHLA. DATES: Written comments should be received on or before February 28, 2017 to be assured of consideration. ADDRESSES: Direct all written comments to Dwight Wolkow, International Portfolio Investment Data Systems, Department of the Treasury, Room 5422 MT, 1500 Pennsylvania Avenue NW., Washington, DC 20220. In view of possible delays in mail delivery, you may also wish to send a copy to Mr. Wolkow by email (comments2TIC@do.treas.gov) or FAX (202-622-2009). Mr. Wolkow can also be reached by telephone (202-622-1276). FOR FURTHER INFORMATION CONTACT: Copies of the proposed form and instructions are available at Part II of the Treasury International Capital (TIC) Forms Web page ``Forms SHL/SHLA & SHC/SHCA'', at: http://www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms-sh.aspx. Requests for additional information should be directed to Mr. Wolkow. SUPPLEMENTARY INFORMATION: Title: Treasury International Capital (TIC) Form SHL/SHLA, ``Foreign-Residents' Holdings of U.S. Securities, including Selected Money Market Instruments''. OMB Control Number: 1505-0123. Abstract: This form collects foreign-residents' holdings of U.S. securities. [[Page 96567]] These data are used by the U.S. Government in the formulation of international financial and monetary policies, and for the computation of the U.S. balance of payments accounts and of the U.S. international investment position. These data are also used to provide information to the public and to meet international reporting commitments. The data collection includes large benchmark surveys conducted every five years, and smaller annual surveys conducted in the non-benchmark years. The data collected under an annual survey are used in conjunction with the results of the preceding benchmark survey to make economy-wide estimates for that non-benchmark year. Currently, the determination of who must report in the annual surveys is based primarily on the data submitted during the preceding benchmark survey. The data requested in the annual survey will generally be the same as requested in the preceding benchmark report. Form SHL is used for the benchmark survey of all significant U.S.-resident custodians and U.S.-resident issuers of securities regarding foreign-residents' holdings of U.S. securities. In non-benchmark years, Form SHLA is used for the annual surveys of primarily the largest U.S.-resident custodians and issuers. Current Actions: No changes in the forms/schedules will be made from the previous survey that was conducted as of June 30, 2016. The proposed changes in the instructions are: (1) In ``Consolidation Rules'' (section II.B in the instructions) the first sentence is expanded to list out separately ``Intermediate Holding Companies'' (IHCs), which are defined by Regulation YY, 12 CFR 252, to clarify that IHCs should follow the same consolidation rules that are applicable to Bank Holding Companies (BHCs), Financial Holding Companies (FHCs), and Savings and Loan Holding Companies. (2) In ``Funds and Related Equity Ownership'' (section III.E in the instructions) the illustrative list of fund types in the second paragraph is expanded to list out separately ``private funds'', where ``private funds'' refers to the same class of financial entities that must report to the Securities and Exchange Commission as private funds on Form PF. (3) In ``Funds and Related Equity Ownership'' (section III.E in the instructions) the last section, ``Direct Investment exception for private funds'', is new, to explain that in TIC reports as of 01 January 2017 and afterwards, investments in private funds, or between the entities of a private fund, are included in TIC surveys regardless of ownership share if they meet BOTH of the following two criteria: (i) The private fund does not own, directly or indirectly through another business enterprise, an ``operating company''--i.e., a business enterprise that is not a private fund or a holding company--in which the foreign parent owns at least 10 percent of the voting interest; and (ii) If the private fund is owned indirectly (through one or more other U.S. business enterprises), so there are no ``operating companies'' between the foreign parent and the indirectly owned private fund. (4) In ``Stripped Securities'' (section III.G in the instructions) the next to last sentence in the second paragraph is revised and reads ``In addition, all `teddy bears' (TBRs), `tigers' (TIGRs), `cats' (CATS) and `cougars' (COUGRs) should also be classified as U.S. Treasury securities.'' (5) In ``DIRECT INVESTMENT'' (section III.I in the instructions) the next to last sentence is new, refers to proposed change (3) above, and reads ``Also, certain cross-border investments by or into private funds where these investments do not involve operating companies (companies that are not other private funds or holding companies) should be reported as portfolio investment on TIC reports rather than on BEA reports as direct Investment (see section III.F).'' (6) In the ``Line-by-Line Instructions for Schedule 1'' (section IV in the instructions), the reporter type 5 in line 8 is expanded, refers to proposed change (1) above, and reads ``5 = Other Financial Organizations (including BHC, FHC & IHC)''. (7) In the ``Line-by-Line Instructions for Schedule 1'' (section IV in the instructions), the phrase in parentheses in line 20 is clarified and reads ``(records with Schedule 2, Item 18 = security types 1, 2, 3, or 4)''. (8) In the ``Line-by-Line Instructions for Schedule 1'' (section IV in the instructions), the phrase in parentheses in line 21 is clarified and reads ``(records with Schedule 2, Item 19 = security types 5, 6, 7, 8, 9, 10, or 11)''. (9) In the ``Line-by-Line Instructions for Schedule 1'' (section IV in the instructions), the phrase in parentheses in line 22 is clarified and reads ``(records with Schedule 2, Item 19 = security type 5, 6, 7, 8, 9, 10, or 11)''. (10) In the ``Line-by-Line Instructions for Schedule 1'' (section IV in the instructions), the phrase in parentheses in line 23 is clarified and reads ``(records with Schedule 2, Item 20 = security type 12)''. (11) In the ``Line-by-Line Instructions for Schedule 2'' (section V in the instructions), the fifth type of issuer in line 11 is expanded, refers to proposed change (1) above, and reads ``Enter ``5'' if the security was issued by all other financial organizations (including BHC, FHC and IHC).''. (12) In the ``Line-by-Line Instructions for Schedule 2'' (section V in the instructions), the note for ``Type 11'' in line 12 is expanded, refers to proposed change (4) above, and reads ``Type 11 should include all debt other than asset-backed securities that is not covered in types 5-10, including U.S. Treasury bills, TBRs, TIGRs, CATS and COUGRs.'' (13) In ``Appendix E: List of Currency Codes'', some names and/or symbols have been changed/updated, for example Romania, Serbia, Sudan, Turkey, Turkmenistan, Venezuela, and Zambia. (14) In ``Funds and Related Equity Ownership'' (section III.E in the instructions), under the subsection ``Reporting guidelines for Hedge Funds and other alternative investments'', the list of legal entities is expanded to include fund ``administrators''. (15) The exemption level (the threshold for reporting) for filing schedules 2 and 3 for a benchmark survey is increased from $100 million to $200 million. (16) Some clarifications may be made in other parts of the instructions. The changes will improve overall survey reporting. Type of Review: Revision of a currently approved data collections. Affected Public: Business/Financial Institutions. Form: TIC SHL/SHLA, Schedules 1 and 2 (1505-0123). Estimated Number of Respondents: An annual average (over five years) of 206, but this varies widely from about 590 in benchmark years (once every five years) to about 110 in other years (four out of every five years). Estimated Average Time per Respondent: An annual average (over five years) of about 168 hours, but this will vary widely from respondent to respondent. (a) In the year of a benchmark survey, which is conducted once every five years, it is estimated that exempt respondents will require an average of 17 hours; for custodians of securities, the estimate is a total of 321 hours on average, but this figure will vary widely for individual custodians; and for issuers of securities that have data to report and are not custodians, the estimate is 61 hours on average. (b) In a non-benchmark year, which occurs four years out of every five years, it is [[Page 96568]] estimated that the largest custodians of securities will require a total of 486 hours on average; and for the largest issuers of securities that have data to report and are not custodians, the estimate is 110 hours on average. The exemption level for custodians and for end-investors is the holding of less than $200 million in reportable U.S. securities owned by foreign residents. The exemption level applies only in benchmark years. Estimated Total Annual Burden Hours: An annual average (over five years) of 33,720 hours. Frequency of Response: Annual. Request for Comments: Comments submitted in response to this notice will be summarized and/or included in the request for Office of Management and Budget approval. All comments will become a matter of public record. The public is invited to submit written comments concerning: (a) Whether the Survey is necessary for the proper performance of the functions of the Office of International Affairs within the Department of the Treasury, including whether the information collected will have practical uses; (b) the accuracy of the above estimate of the burdens; (c) ways to enhance the quality, usefulness and clarity of the information to be collected; (d) ways to minimize the reporting and/or record keeping burdens on respondents, including the use of information technologies to automate the collection of the data requested; and (e) estimates of capital or start-up costs of operation, maintenance and purchase of services to provide the information requested. Dwight Wolkow, Administrator, International Portfolio Investment Data Systems. [FR Doc. 2016-31651 Filed 12-29-16; 8:45 am] BILLING CODE 4810-25-P
![96566 Federal Register / Vol. 81, No. 251 / Friday, December 30, 2016 / Notices
Forms for Endorsements, Certificates of BMC–85, entitled ‘‘Broker’s or Freight for OMB’s clearance of this information
Insurance and Other Evidence of Bodily Forwarder’s Trust Fund Agreement collection.
Injury and Property Damage (BI&PD) Under 49 U.S.C. 13906 or Notice of Issued on: December 23, 2016.
Liability and Cargo Liability Financial Cancellation of the Agreement,’’ can be G. Kelly Regal,
Responsibility used to cancel prior filings.
Associate Administrator for Office of
Forms BMC–91 and BMC–91X, Self-Insurance Research and Information Technology.
entitled ‘‘Motor Carrier Automobile Motor carriers can also apply to [FR Doc. 2016–31701 Filed 12–29–16; 8:45 am]
Bodily Injury and Property Damage FMCSA to self-insure BI & PD and/or BILLING CODE 4910–EX–P
Liability Certificate of Insurance,’’ and cargo liability in lieu of filing
Form BMC–82, entitled ‘‘Motor Carrier certificates of insurance with the
Bodily Injury Liability and Property FMCSA, as long as the carrier maintains DEPARTMENT OF THE TREASURY
Damage Liability Surety Bond Under 49 a satisfactory safety rating (see 49 CFR
U.S.C. 13906,’’ provide evidence of the 387.309.) Form BMC–40 is the Proposed Collection; Comment
required coverage for bodily injury and application used by carriers to apply for Request
property damage (BI & PD) liability. A self-insurance authority.
Form BMC–91X filing is required when Departmental Offices, Treasury.
AGENCY:
Title: Financial Responsibility— Notice and request for
ACTION:
a carrier’s insurance is provided by Motor Carriers, Freight Forwarders, and
multiple companies instead of just one. comments.
Brokers.
Form BMC–34, entitled ‘‘Household OMB Control Number: 2126–0017. SUMMARY: The Department of the
Goods Motor Carrier Cargo Liability Type of Request: Renewal of a Treasury, as part of its continuing effort
Certificate of Insurance,’’ and Form currently approved information to reduce paperwork burdens, invites
BMC–83, entitled ‘‘Household Goods collection. the general public and other Federal
Motor Carrier Cargo Liability Surety Respondents: Motor carriers, freight agencies to comment on revisions for
Bond Under 49 U.S.C. 13906,’’ establish forwarders, and brokers. 2017 of a currently approved
a carrier’s compliance with the Agency’s Estimated Number of Respondents: information collection that is proposed
cargo liability requirements. Only 183,340. for approval by the Office of
household goods (HHG) motor carriers Estimated Time per Response: The Management and Budget. The Office of
are required to file evidence of cargo estimated average burden per response International Affairs within the
insurance with FMCSA. 49 CFR for Form BMC–40 is 40 hours. The Department of the Treasury is soliciting
387.303(c). Form BMC–90, entitled estimated average burden per response comments concerning the revision of
‘‘Endorsement for Motor Carrier Policies for the remaining insurance forms the Treasury International Capital (TIC)
of Insurance for Automobile Bodily (BMC–34, 35, 36, 82, 83, 84, 85, 91, and Form SHL/SHLA.
Injury and Property Damage Liability 91X) is 10 minutes per form. DATES: Written comments should be
Under Section 13906, Title 49 of the Expiration Date: February 28, 2017.
Frequency of Response: Certificates of received on or before February 28, 2017
United States Code,’’ and Form BMC–
insurance, surety bonds, and trust fund to be assured of consideration.
32, entitled ‘‘Endorsement for Motor
agreements are required when the ADDRESSES: Direct all written comments
Common Carrier Policies of Insurance
for Cargo Liability Under 49 U.S.C. transportation entity first registers with to Dwight Wolkow, International
13906,’’ are executed by the insurance FMCSA and then when such coverages Portfolio Investment Data Systems,
company, attached to BI & PD or cargo are changed or replaced by these Department of the Treasury, Room 5422
liability insurance policy, respectively, entities. Notices of cancellation are MT, 1500 Pennsylvania Avenue NW.,
and forwarded to the motor carrier or required only when such certificates of Washington, DC 20220. In view of
freight forwarder. insurance, surety bonds, and trust fund possible delays in mail delivery, you
agreements are cancelled. The BMC–40 may also wish to send a copy to Mr.
Requirement To Obtain Surety Bond or is filed only when a carrier seeks Wolkow by email
Trust Fund Agreement approval from FMCSA to self-insure its (comments2TIC@do.treas.gov) or FAX
Form BMC–84, entitled ‘‘Broker’s or bodily injury and property damage (BI (202–622–2009). Mr. Wolkow can also
Freight Forwarder’s Surety Bond Under & PD) and/or cargo liability coverage. be reached by telephone (202–622–
49 U.S.C. 13906,’’ and Form BMC–85, Estimated Total Annual Burden: 1276).
entitled ‘‘Broker’s or Freight 45,168 hours [2 BMC–40 filings per year FOR FURTHER INFORMATION CONTACT:
Forwarder’s Trust Fund Agreement × 40 hours to complete + 270,525 filings Copies of the proposed form and
Under 49 U.S.C. 13906 or Notice of per year for all the other forms × 10 instructions are available at Part II of the
Cancellation of the Agreement,’’ are minutes/60 minutes to complete = Treasury International Capital (TIC)
filed by brokers or freight forwarders to 45,168]. Forms Web page ‘‘Forms SHL/SHLA &
comply with the requirement that they Public Comments Invited: You are SHC/SHCA’’, at: http://
must have a $75,000 surety bond or asked to comment on any aspect of this www.treasury.gov/resource-center/data-
trust fund agreement in effect before information collection, including: (1) chart-center/tic/Pages/forms-sh.aspx.
FMCSA will issue property broker or Whether the proposed collection is Requests for additional information
freight forwarder operating authority necessary for the performance of should be directed to Mr. Wolkow.
registration. FMCSA’s functions; (2) the accuracy of SUPPLEMENTARY INFORMATION:
the estimated burden; (3) ways for
srobinson on DSK5SPTVN1PROD with NOTICES
Cancellation of Prior Filings Title: Treasury International Capital
FMCSA to enhance the quality, (TIC) Form SHL/SHLA, ‘‘Foreign-
Form BMC–35, entitled ‘‘Notice of usefulness, and clarity of the collected Residents’ Holdings of U.S. Securities,
Cancellation Motor Carrier Insurance information; and (4) ways that the including Selected Money Market
under 49 U.S.C. 13906,’’ Form BMC–36, burden could be minimized without Instruments’’.
entitled ‘‘Motor Carrier and Broker’s reducing the quality of the collected OMB Control Number: 1505–0123.
Surety Bonds under 49 U.S.C. 13906 information. The agency will summarize Abstract: This form collects foreign-
Notice of Cancellation,’’ and Form or include your comments in the request residents’ holdings of U.S. securities.
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![96568 Federal Register / Vol. 81, No. 251 / Friday, December 30, 2016 / Notices
estimated that the largest custodians of aspect of the information collections, Form: 706–QDT.
securities will require a total of 486 including suggestions for reducing the Abstract: Form 706–QDT is used by
hours on average; and for the largest burden, to (1) Office of Information and the trustee or the designated filer to
issuers of securities that have data to Regulatory Affairs, Office of compute and report the Federal estate
report and are not custodians, the Management and Budget, Attention: tax imposed on qualified domestic
estimate is 110 hours on average. The Desk Officer for Treasury, New trusts by C section 2056A. IRS uses the
exemption level for custodians and for Executive Office Building, Room 10235, information to enforce this tax and to
end-investors is the holding of less than Washington, DC 20503, or email at verify that the tax has been properly
$200 million in reportable U.S. OIRA_Submission@OMB.EOP.gov and computed.
securities owned by foreign residents. (2) Treasury PRA Clearance Officer, Affected Public: Individuals or
The exemption level applies only in 1750 Pennsylvania Ave. NW., Suite Households.
benchmark years. 8142, Washington, DC 20220, or email Estimated Total Annual Burden
Estimated Total Annual Burden at PRA@treasury.gov. Hours: 357.
Hours: An annual average (over five FOR FURTHER INFORMATION CONTACT: OMB Control Number: 1545–1578.
years) of 33,720 hours. Copies of the submissions may be Type of Review: Extension without
Frequency of Response: Annual. obtained by emailing PRA@treasury.gov, change of a currently approved
Request for Comments: Comments calling (202) 622–0934, or viewing the collection.
submitted in response to this notice will entire information collection request at Title: REG–106542–98 (TD 9032)
be summarized and/or included in the www.reginfo.gov. (Final), Election to Treat Trust as Part of
request for Office of Management and an Estate.
Budget approval. All comments will Internal Revenue Service (IRS) Abstract: REG–106542–98 (TD 9032)
become a matter of public record. The OMB Control Number: 1545–0008. and Rev. Proc. 98–13 relate to an
public is invited to submit written Type of Review: Revision of a election to have certain revocable trusts
comments concerning: (a) Whether the currently approved collection. treated and taxed as part of an estate,
Survey is necessary for the proper Title: Wage and Tax Statements W–2/ and provides the procedures and
performance of the functions of the W–3 Series. requirements for making the section 645
Office of International Affairs within the Abstract: Section 6051 of the Internal election.
Department of the Treasury, including Revenue Code requires employers to Affected Public: Individual or
whether the information collected will furnish income and withholding Households.
have practical uses; (b) the accuracy of statements to employees and to the IRS. Estimated Total Annual Burden
the above estimate of the burdens; (c) Employers report income and Hours: 5,000.
ways to enhance the quality, usefulness withholding information on Form W–2. OMB Control Number: 1545–1748.
and clarity of the information to be Forms W–2AS, W–2GU, and W–2VI are Type of Review: Extension without a
collected; (d) ways to minimize the variations of the W–2 for use in U.S. change of a currently approved
reporting and/or record keeping burdens possessions. The W–3 series forms collection.
on respondents, including the use of transmit W–2 series forms to SSA for Title: Changes in Accounting
information technologies to automate processing. The W–2C and W–3C series Periods—REG–106917–99 (TD 8669/
the collection of the data requested; and are used to correct previously filed Final).
(e) estimates of capital or start-up costs forms. Abstract: Section 1.441–2(b)(1)
of operation, maintenance and purchase Forms: W–2VI, W–3, W–3C, W–3CPR, requires certain taxpayers to file
of services to provide the information W–3PR, W–2GU, W–2, W–2C, W–2AS, statements on their federal income tax
requested. W–3SS. returns to notify the Commissioner of
Dwight Wolkow,
Affected Public: Businesses or other the taxpayers’ election to adopt a 52–53
for-profits. week taxable year. Section 1.442–1(b)(4)
Administrator, International Portfolio
Investment Data Systems.
Estimated Total Annual Burden provides that certain taxpayers must
Hours: 1. establish books and records that clearly
[FR Doc. 2016–31651 Filed 12–29–16; 8:45 am]
OMB Control Number: 1545–0754. reflect income for the short period
BILLING CODE 4810–25–P
Type of Review: Extension without involved when changing their taxable
change of a currently approved year to a fiscal taxable year. Section
DEPARTMENT OF THE TREASURY collection. 1.442–1(d) requires a newly married
Title: Form Substantiation of husband or wife to file a statement with
Submission for OMB Review; Charitable Contributions- TD 8002. their short period return when changing
Comment Request Abstract: Congress intended that the to the other spouse’s taxable year.
IRS prescribe rules and requirements to Affected Public: Businesses or other
December 27, 2016. assure substantiation and verification of for-profits.
The Department of the Treasury will charitable contributions. The Estimated Total Annual Burden
submit the following information regulations serve these purposes. Hours: 500.
collection requests to the Office of Affected Public: Individuals or OMB Control Number: 1545–1877.
Management and Budget (OMB) for Households. Type of Review: Extension without
review and clearance in accordance Estimated Total Annual Burden change of a currently approved
with the Paperwork Reduction Act of Hours: 2,158,000. collection.
srobinson on DSK5SPTVN1PROD with NOTICES
1995, Public Law 104–13, on or after the OMB Control Number: 1545–1212. Title: Average Area Purchase Price
date of publication of this notice. Type of Review: Extension without Safe Harbors and Nationwide Purchase
DATES: Comments should be received on change of a currently approved Prices under section 143—Revenue
or before January 30, 2017 to be assured collection. Procedure 2004–18.
of consideration. Title: Form 706–QDT—U.S. Estate Abstract: Revenue Procedure 2004–18
ADDRESSES: Send comments regarding Tax Return for Qualified Domestic provides issuers of qualified mortgage
the burden estimates, or any other Trusts. bonds, as defined in section 143(a) of
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Document Created: 2016-12-30 05:16:21
Document Modified: 2016-12-30 05:16:21
| 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 and request for comments. | |
| Dates | Written comments should be received on or before February 28, 2017 to be assured of consideration. | |
| Contact | Copies of the proposed form and instructions are available at Part II of the Treasury International Capital (TIC) Forms Web page ``Forms SHL/SHLA & SHC/SHCA'', at: http:// www.treasury.gov/resource-center/data-chart-center/tic/Pages/forms- sh.aspx. Requests for additional information should be directed to Mr. Wolkow. | |
| FR Citation | 81 FR 96566 |
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