83 FR 46015 - Agency Information Collection Activities; Proposed Renewal: Comment Request; Renewal Without Change of Customer Identification Programs for Banks, Savings Associations, Credit Unions, Certain Non-Federally Regulated Banks, Futures Commission Merchants, and Introducing Brokers in Commodities

DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network

Federal Register Volume 83, Issue 176 (September 11, 2018)

Page Range		46015-46016
FR Document		2018-19653

FinCEN invites comment on a proposed renewal, without change, to information collections found in regulations requiring banks, savings associations, credit unions, certain non-federally regulated banks, futures commission merchants, and introducing brokers in commodities to develop and implement customer identification programs designed to allow the covered financial institution to form a reasonable belief that it knows the true identity of each customer. This request for comment is being made pursuant to the Paperwork Reduction Act (``PRA'') of 1995.

Federal Register, Volume 83 Issue 176 (Tuesday, September 11, 2018)

[Federal Register Volume 83, Number 176 (Tuesday, September 11, 2018)]
[Notices]
[Pages 46015-46016]
From the Federal Register Online  [www.thefederalregister.org]
[FR Doc No: 2018-19653]


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DEPARTMENT OF THE TREASURY

Financial Crimes Enforcement Network


Agency Information Collection Activities; Proposed Renewal: 
Comment Request; Renewal Without Change of Customer Identification 
Programs for Banks, Savings Associations, Credit Unions, Certain Non-
Federally Regulated Banks, Futures Commission Merchants, and 
Introducing Brokers in Commodities

AGENCY: Financial Crimes Enforcement Network (``FinCEN''), U.S. 
Department of the Treasury.

ACTION: Notice and request for comments.

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SUMMARY: FinCEN invites comment on a proposed renewal, without change, 
to information collections found in regulations requiring banks, 
savings associations, credit unions, certain non-federally regulated 
banks, futures commission merchants, and introducing brokers in 
commodities to develop and implement customer identification programs 
designed to allow the covered financial institution to form a 
reasonable belief that it knows the true identity of each customer. 
This request for comment is being made pursuant to the Paperwork 
Reduction Act (``PRA'') of 1995.

DATES: Written comments are welcome and must be received on or before 
November 13, 2018.

ADDRESSES: Comments may be submitted by any of the following methods:
     Federal E-rulemaking Portal: http://www.regulations.gov. 
Follow the instructions for submitting comments. Refer to Docket Number 
FINCEN-2018-0013 and the Office of Management and Budget (``OMB'') 
control number of the information collection(s) you wish to comment on 
(OMB control numbers 1506-0022 and/or 1506-0026).
     Mail: Policy Division, Financial Crimes Enforcement 
Network, P.O. Box 39, Vienna, VA 22183. Refer to Docket Number FINCEN-
2018-0013 and the OMB control number of the information collection(s) 
you wish to comment on (OMB control numbers 1506-0022 and/or 1506-
0026).
    Please submit comments by one method only. Comments will also be 
incorporated to FinCEN's retrospective regulatory review process, as 
mandated by E.O. 12866 and 13563. All comments submitted in response to 
this notice will become a matter of public record. Therefore, you 
should submit only information that you wish to make publicly 
available.

FOR FURTHER INFORMATION CONTACT: The FinCEN Resource Center at 800-767-
2825 or electronically at [email protected].

SUPPLEMENTARY INFORMATION: The Bank Secrecy Act (``BSA''), Titles I and 
II of Public Law 91-508, as amended, codified at 12 U.S.C. 1829(b), 12 
U.S.C. 1951-1959, and 31 U.S.C. 5311-5314 and 5316-5332, authorizes the 
Secretary of the Treasury, among other things, to require financial 
institutions to keep records and file reports that are determined to 
have a high degree of usefulness in criminal, tax, and regulatory 
matters or in the conduct of intelligence or counter-intelligence 
activities to protect against international terrorism, and to implement 
counter-money laundering programs and compliance procedures.\1\ Title 
III of the USA PATRIOT Act of 2001, Public Law 107-56, included certain 
amendments to the anti-money laundering provisions of Title II of the 
BSA, 31 U.S.C. 5311 et seq., which are intended to aid in the 
prevention, detection, and prosecution of international money 
laundering and terrorist financing.
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    \1\ Language expanding the scope of the BSA to intelligence or 
counter-intelligence activities to protect against international 
terrorism was added by Section 358 of the Uniting and Strengthening 
America by Providing Appropriate Tools Required to Intercept and 
Obstruct Terrorism Act of 2001, Public Law 107-56.
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    Regulations implementing Title II of the BSA appear at 31 CFR 
Chapter X. The authority of the Secretary of the Treasury to administer 
Title II of the BSA has been delegated to the Director of FinCEN. The 
information collected and retained under the regulation addressed in 
this notice assist Federal, state, and local law enforcement as well as 
regulatory authorities in the identification, investigation and 
prosecution of money laundering and other matters.
    Section 5318(l) of the BSA requires FinCEN to issue regulations 
prescribing customer identification programs for financial 
institutions. Those regulations, at a minimum, must require financial 
institutions implement reasonable procedures for (1) verifying the 
identity of any person seeking to open an account, to the extent 
reasonable and practicable; (2) maintaining records of the information 
used to verify the person's identity, including name, address, and 
other identifying information; and (3) determining whether the person 
appears on any lists of known or suspected terrorists or terrorist 
organizations provided to the financial institution by any government 
agency. The regulations are to take into consideration the various 
types of accounts maintained by various types of financial 
institutions, the various methods of opening accounts, and the various 
types of identifying information available. Regulations implementing 
section 5318(l) with respect to banks, savings associations, credit 
unions, and certain non-federally regulated banks are found at 31 CFR 
1020.220. Regulations implementing section 5318(l) with respect to 
futures commission merchants and introducing brokers in commodities are 
found at 31 CFR 1026.220.
    In accordance with the requirements of the PRA and its implementing 
regulations, the following information is

[[Page 46016]]

presented concerning the information collection below.
    1. Title: Customer Identification Programs for Banks, Savings 
Associations, Credit Unions, and Certain Non-Federally Regulated Banks. 
(31 CFR 1020.220).
    OMB Control Number: 1506-0026.
    Abstract: Banks, savings associations, credit unions, and certain 
non-federally regulated banks are required to implement and maintain 
customer identification programs and provide their customers with 
notice of the programs. (See 68 FR 25090, May 9, 2003).
    Current Action: Renewal without change to existing regulations.
    Type of Review: Renewal of a currently approved information 
collection.
    Affected Public: Business, other for-profit institutions, and not-
for-profit institutions.
    Burden:
     Estimated Number of Respondents: 15,960.\2\
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    \2\ This number is a total of the institutions represented in 
the 2017 annual reports of the following regulators: The National 
Credit Union Administration reported 5,573 institutions, the Federal 
Reserve reported 5,180 institutions, the Federal Deposit Insurance 
Corporation reported 3,636 institutions, the Office of the 
Comptroller of the Currency reported 1,446 institutions. In 
addition, a report from the Government Accountability Office 
indicated that approximately 125 credit unions were insured 
privately, for a total of 15,960 institutions.
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     Estimated Average Annual Recordkeeping Burden per 
Respondent: 10 hours.\3\
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    \3\ FinCEN did not receive comments on the previous estimate of 
10 hours of annual recordkeeping burden and 1 hour of annual 
disclosure burden per respondent.
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     Estimated Average Annual Disclosure Burden per Respondent: 
1 hour.
     Estimated Total Annual Respondent Burden: 175,560 
hours.\4\
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    \4\ 15,960 respondents multiplied by 11 hours equals 175,560 
hours.
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    2. Title: Customer Identification Programs for Futures Commission 
Merchants and Introducing Brokers in Commodities (31 CFR 1026.220).
    OMB Control Number: 1506-0022.
    Abstract: Futures commission merchants and introducing brokers in 
commodities are required to implement and maintain customer 
identification programs and provide their customers with notice of the 
programs. (See 68 FR 25149, May 9, 2003).
    Current Action: Renewal without change to existing regulations.
    Type of Review: Renewal of a currently approved information 
collection.
    Affected Public: Business and other for-profit institutions.
    Burden:
     Estimated Number of Respondents: 1,228.\5\
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    \5\ According to the National Futures Association, there are 
currently 1,164 registered introducing brokers in commodities, and 
64 futures commission merchants.
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     Estimated Average Annual Recordkeeping Burden per 
Respondent: 10 hours.\6\
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    \6\ FinCEN did not receive comments on the previous estimate of 
10 hours of annual recordkeeping burden and 1 hour of annual 
disclosure burden per respondent.
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     Estimated Average Annual Disclosure Burden per Respondent: 
1 hour.
     Estimated Total Annual Respondent Burden: 13,508.\7\
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    \7\ 1,228 respondents multiplied by 11 hours equals 13,508 
hours.
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    An agency may not conduct or sponsor, and a person is not required 
to respond to, a collection of information unless the collection of 
information displays a valid OMB control number. Records required to be 
retained under the BSA must be retained for five years. Generally, 
information collected pursuant to the BSA is confidential but may be 
shared as provided by law with regulatory and law enforcement 
authorities.
    Request for Comments: Comments submitted in response to this notice 
will be summarized and/or included in the request for OMB approval. All 
comments will become a matter of public record. Comments are invited 
on: (a) Whether the collection of information is necessary for the 
proper performance of the functions of the agency, including whether 
the information shall have practical utility; (b) the accuracy of the 
agency's estimate of the burden of the collection of information; (c) 
ways to enhance the quality, utility, and clarity of the information to 
be collected; (d) ways to minimize the burden of the collection of 
information on respondents, including through the use of automated 
collection techniques or other forms of information technology; and (e) 
estimates of capital or start-up costs and costs of operation, 
maintenance and purchase of services to provide information.

Jamal El-Hindi,
Deputy Director, Financial Crimes Enforcement Network.
[FR Doc. 2018-19653 Filed 9-10-18; 8:45 am]
 BILLING CODE 4810-02-P

Federal Register / Vol. 83, No. 176 / Tuesday, September 11, 2018 / Notices 46015

Estimated Annual Responses: 20,000. Notice and request for
ACTION: activities to protect against international
Estimated Burden per Response: 1 comments. terrorism, and to implement counter-
hour. money laundering programs and
Estimated Total Burden Hours: 20,000 SUMMARY: FinCEN invites comment on a compliance procedures.1 Title III of the
hours. proposed renewal, without change, to USA PATRIOT Act of 2001, Public Law
An agency may not conduct or information collections found in 107–56, included certain amendments
sponsor, and a person is not required to regulations requiring banks, savings to the anti-money laundering provisions
respond to, a collection of information associations, credit unions, certain non- of Title II of the BSA, 31 U.S.C. 5311 et
unless the collection of information federally regulated banks, futures seq., which are intended to aid in the
displays a valid control number commission merchants, and introducing prevention, detection, and prosecution
assigned by the Office of Management brokers in commodities to develop and of international money laundering and
and Budget. Records required to be implement customer identification terrorist financing.
retained under the BSA must be programs designed to allow the covered Regulations implementing Title II of
retained for five years. Generally, financial institution to form a the BSA appear at 31 CFR Chapter X.
information collected pursuant to the reasonable belief that it knows the true The authority of the Secretary of the
BSA is confidential but may be shared identity of each customer. This request Treasury to administer Title II of the
as provided by law with regulatory and for comment is being made pursuant to BSA has been delegated to the Director
law enforcement authorities. the Paperwork Reduction Act (‘‘PRA’’) of FinCEN. The information collected
Request for Comments: Comments of 1995. and retained under the regulation
submitted in response to this notice will DATES: Written comments are welcome addressed in this notice assist Federal,
be summarized and/or included in the and must be received on or before state, and local law enforcement as well
request for OMB approval. All November 13, 2018. as regulatory authorities in the
comments will become a matter of ADDRESSES: Comments may be identification, investigation and
public record. Comments are invited on: submitted by any of the following prosecution of money laundering and
(a) Whether the collection of methods: other matters.
information is necessary for the proper • Federal E-rulemaking Portal: http:// Section 5318(l) of the BSA requires
performance of the functions of the www.regulations.gov. Follow the FinCEN to issue regulations prescribing
agency, including whether the instructions for submitting comments. customer identification programs for
information shall have practical utility; Refer to Docket Number FINCEN–2018– financial institutions. Those regulations,
(b) the accuracy of the agency’s estimate 0013 and the Office of Management and at a minimum, must require financial
of the burden of the collection of Budget (‘‘OMB’’) control number of the institutions implement reasonable
information; (c) ways to enhance the information collection(s) you wish to procedures for (1) verifying the identity
quality, utility, and clarity of the comment on (OMB control numbers of any person seeking to open an
information to be collected; (d) ways to 1506–0022 and/or 1506–0026). account, to the extent reasonable and
minimize the burden of the collection of • Mail: Policy Division, Financial practicable; (2) maintaining records of
information on respondents, including Crimes Enforcement Network, P.O. Box the information used to verify the
through the use of automated collection 39, Vienna, VA 22183. Refer to Docket person’s identity, including name,
techniques or other forms of information Number FINCEN–2018–0013 and the address, and other identifying
technology; and (e) estimates of capital OMB control number of the information information; and (3) determining
or start-up costs and costs of operation, collection(s) you wish to comment on whether the person appears on any lists
maintenance and purchase of services to (OMB control numbers 1506–0022 and/ of known or suspected terrorists or
provide information. or 1506–0026). terrorist organizations provided to the
Please submit comments by one financial institution by any government
Jamal El-Hindi, agency. The regulations are to take into
method only. Comments will also be
Deputy Director, Financial Crimes consideration the various types of
Enforcement Network. incorporated to FinCEN’s retrospective
regulatory review process, as mandated accounts maintained by various types of
[FR Doc. 2018–19655 Filed 9–10–18; 8:45 am] financial institutions, the various
by E.O. 12866 and 13563. All comments
BILLING CODE 4810–02–P
submitted in response to this notice will methods of opening accounts, and the
become a matter of public record. various types of identifying information
Therefore, you should submit only available. Regulations implementing
DEPARTMENT OF THE TREASURY section 5318(l) with respect to banks,
information that you wish to make
publicly available. savings associations, credit unions, and
Financial Crimes Enforcement Network certain non-federally regulated banks
FOR FURTHER INFORMATION CONTACT: The
Agency Information Collection are found at 31 CFR 1020.220.
FinCEN Resource Center at 800–767–
Activities; Proposed Renewal: Regulations implementing section
2825 or electronically at frc@fincen.gov.
Comment Request; Renewal Without 5318(l) with respect to futures
SUPPLEMENTARY INFORMATION: The Bank commission merchants and introducing
Change of Customer Identification Secrecy Act (‘‘BSA’’), Titles I and II of
Programs for Banks, Savings brokers in commodities are found at 31
Public Law 91–508, as amended, CFR 1026.220.
Associations, Credit Unions, Certain codified at 12 U.S.C. 1829(b), 12 U.S.C. In accordance with the requirements
Non-Federally Regulated Banks, 1951–1959, and 31 U.S.C. 5311–5314 of the PRA and its implementing
Futures Commission Merchants, and and 5316–5332, authorizes the Secretary regulations, the following information is
daltland on DSKBBV9HB2PROD with NOTICES

Introducing Brokers in Commodities of the Treasury, among other things, to
AGENCY: Financial Crimes Enforcement require financial institutions to keep 1 Language expanding the scope of the BSA to

Network (‘‘FinCEN’’), U.S. Department records and file reports that are intelligence or counter-intelligence activities to
determined to have a high degree of protect against international terrorism was added by
of the Treasury. Section 358 of the Uniting and Strengthening
usefulness in criminal, tax, and America by Providing Appropriate Tools Required
FinCEN. Therefore, FinCEN does not have an regulatory matters or in the conduct of to Intercept and Obstruct Terrorism Act of 2001,
independent means of verifying this number. intelligence or counter-intelligence Public Law 107–56.

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46016 Federal Register / Vol. 83, No. 176 / Tuesday, September 11, 2018 / Notices

presented concerning the information Burden: DEPARTMENT OF THE TREASURY
collection below. • Estimated Number of Respondents:
1. Title: Customer Identification Internal Revenue Service
1,228.5
Programs for Banks, Savings
Associations, Credit Unions, and • Estimated Average Annual Open Meeting of the Taxpayer
Certain Non-Federally Regulated Banks. Recordkeeping Burden per Respondent: Advocacy Panel Toll-Free Phone Line
(31 CFR 1020.220). 10 hours.6 Project Committee
OMB Control Number: 1506–0026. • Estimated Average Annual AGENCY: Internal Revenue Service (IRS),
Abstract: Banks, savings associations, Disclosure Burden per Respondent: 1 Treasury.
credit unions, and certain non-federally
hour. ACTION: Notice of meeting.
regulated banks are required to
implement and maintain customer • Estimated Total Annual SUMMARY: An open meeting of the
identification programs and provide Respondent Burden: 13,508.7 Taxpayer Advocacy Panel Toll-Free
their customers with notice of the An agency may not conduct or Phone Line Project Committee will be
programs. (See 68 FR 25090, May 9, sponsor, and a person is not required to conducted. The Taxpayer Advocacy
2003). respond to, a collection of information Panel is soliciting public comments,
Current Action: Renewal without unless the collection of information ideas, and suggestions on improving
change to existing regulations. customer service at the Internal Revenue
displays a valid OMB control number.
Type of Review: Renewal of a Service.
currently approved information Records required to be retained under
the BSA must be retained for five years. DATES: The meeting will be held
collection.
Affected Public: Business, other for- Generally, information collected Tuesday, October 9, 2018.
profit institutions, and not-for-profit pursuant to the BSA is confidential but FOR FURTHER INFORMATION CONTACT:
institutions. may be shared as provided by law with Rosalind Matherne at 1–888–912–1227
Burden: regulatory and law enforcement or 202–317–4115.
• Estimated Number of Respondents: authorities. SUPPLEMENTARY INFORMATION: Notice is
15,960.2 hereby given pursuant to Section
Request for Comments: Comments
• Estimated Average Annual 10(a)(2) of the Federal Advisory
Recordkeeping Burden per Respondent: submitted in response to this notice will
Committee Act, 5 U.S.C. App. (1988)
10 hours.3 be summarized and/or included in the
that an open meeting of the Taxpayer
• Estimated Average Annual request for OMB approval. All Advocacy Panel Toll-Free Phone Line
Disclosure Burden per Respondent: 1 comments will become a matter of Project Committee will be held Tuesday,
hour. public record. Comments are invited on: October 9, 2018, at 3:00 p.m. Eastern
• Estimated Total Annual (a) Whether the collection of Time via teleconference. The public is
Respondent Burden: 175,560 hours.4 information is necessary for the proper invited to make oral comments or
2. Title: Customer Identification performance of the functions of the submit written statements for
Programs for Futures Commission agency, including whether the consideration. Due to limited
Merchants and Introducing Brokers in information shall have practical utility; conference lines, notification of intent
Commodities (31 CFR 1026.220). (b) the accuracy of the agency’s estimate to participate must be made with
OMB Control Number: 1506–0022. of the burden of the collection of Rosalind Matherne. For more
Abstract: Futures commission information; (c) ways to enhance the information please contact Rosalind
merchants and introducing brokers in Matherne at 1–888–912–1227 or 202–
quality, utility, and clarity of the
commodities are required to implement 317–4115, or write TAP Office, 1111
information to be collected; (d) ways to
and maintain customer identification Constitution Ave. NW, Room 1509,
programs and provide their customers minimize the burden of the collection of
information on respondents, including Washington, DC 20224 or contact us at
with notice of the programs. (See 68 FR the website: http://www.improveirs.org.
25149, May 9, 2003). through the use of automated collection
techniques or other forms of information The agenda will include various IRS
Current Action: Renewal without
technology; and (e) estimates of capital issues.
change to existing regulations. The committee will be discussing
Type of Review: Renewal of a or start-up costs and costs of operation,
maintenance and purchase of services to Toll-free issues and public input is
currently approved information
welcomed.
collection. provide information.
Affected Public: Business and other Dated: September 1, 2018.
for-profit institutions. Jamal El-Hindi, Kevin Brown,
Deputy Director, Financial Crimes Acting Director, Taxpayer Advocacy Panel.
2 This number is a total of the institutions Enforcement Network. [FR Doc. 2018–19678 Filed 9–10–18; 8:45 am]
represented in the 2017 annual reports of the [FR Doc. 2018–19653 Filed 9–10–18; 8:45 am]
BILLING CODE 4830–01–P
following regulators: The National Credit Union
Administration reported 5,573 institutions, the BILLING CODE 4810–02–P
Federal Reserve reported 5,180 institutions, the
Federal Deposit Insurance Corporation reported DEPARTMENT OF THE TREASURY
3,636 institutions, the Office of the Comptroller of
the Currency reported 1,446 institutions. In 5 According to the National Futures Association, Internal Revenue Service
addition, a report from the Government there are currently 1,164 registered introducing
daltland on DSKBBV9HB2PROD with NOTICES

Accountability Office indicated that approximately brokers in commodities, and 64 futures commission
125 credit unions were insured privately, for a total Proposed Collection; Comment
merchants. Request for Form 5495
of 15,960 institutions. 6 FinCEN did not receive comments on the
3 FinCEN did not receive comments on the

previous estimate of 10 hours of annual previous estimate of 10 hours of annual AGENCY: Internal Revenue Service (IRS),
recordkeeping burden and 1 hour of annual recordkeeping burden and 1 hour of annual Treasury.
disclosure burden per respondent. disclosure burden per respondent.
ACTION: Notice and request for
4 15,960 respondents multiplied by 11 hours 7 1,228 respondents multiplied by 11 hours
comments.
equals 175,560 hours. equals 13,508 hours.

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Document Created: 2018-09-11 01:03:28
Document Modified: 2018-09-11 01:03:28

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 are welcome and must be received on or before November 13, 2018.
Contact		The FinCEN Resource Center at 800-767- 2825 or electronically at [email protected]
FR Citation		83 FR 46015

DEPARTMENT OF THE TREASURYFinancial Crimes Enforcement Network

Federal Register Volume 83, Issue 176 (September 11, 2018)

DEPARTMENT OF THE TREASURY
Financial Crimes Enforcement Network