Federal Register / Vol. 79, No. 135 / Tuesday, July 15, 2014 / Rules and Regulations 41133 

Bureau aims to achieve the following 

research initiatives: (1) Validating and 

enhancing the Master Address File; (2) 

Designing and assigning resources to 

carry out the next decennial census; (3) 

Un-duplicating public, private, and 

census lists; and (4) Imputing missing 

data. All administrative data from the 

above sources, including return 

information, will be integrated into the 

Bureau’s data system that is used for the 

next decennial census and housing 

counts and will be done in a manner 

such that the source (for example, 

commercial vendor, IRS, or Social 

Security Administration) will not be 

associated with any data element in the 

final decennial person-level census 

records. 

Thus, the Secretary of Commerce 

asserted that good cause exists to amend 

§ 301.6103(j)(1)–1 of the regulations to 

add these items to the list of items of 

return information that may be 

disclosed to the Bureau. The Treasury 

Department and the IRS agree that 

amending existing regulations to permit 

disclosure of these items to the Bureau 

is appropriate to meet the needs of the 

Bureau. 

The text of the temporary regulations 

also serves as the text of the proposed 

regulations set forth in the notice of 

proposed rulemaking on this subject in 

the Proposed Rules section of this issue 

of the Federal Register. 

Explanation of Provisions 

Section 6103(j)(1)–1T will authorize 

the disclosure of the following 

additional items of return information 

from income tax returns (Form 1040): 

(1) Electronic Filing System Indicator; 

(2) Return Processing Indicator; and (3) 

Paid Preparer Code. Section 6103(j)(1)– 

1T will authorize the disclosure of the 

following items of return information 

from Form 1098: (1) Payee/Payer/

Employee Taxpayer Identification 

Number; (2) Payee/Payer/Employee 

Name (First, Middle, Last, Suffix); (3) 

Street Address; (4) City; (5) State; (6) ZIP 

Code (9 digit); (7) Posting Cycle Week; 

(8) Posting Cycle Year; and (9) 

Document Code. 

Special Analyses 

It has been determined that these 

temporary regulations are not a 

significant regulatory action as defined 

in Executive Order 12866, as 

supplemented by Executive Order 

13563. Therefore, a regulatory 

assessment is not required. It also has 

been determined that section 553(b) of 

the Administrative Procedures Act (5 

U.S.C. chapter 5) does not apply to these 

regulations and because the regulation 

does not impose a collection of 

information on small entities, the 

Regulatory Flexibility Act (5 U.S.C. 

chapter 6) does not apply. Pursuant to 

section 7805(f) of the Code, this 

regulation has been submitted to the 

Chief Counsel for Advocacy of the Small 

Business Administration for comment 

on its impact on small business. 

Drafting Information 

The principal author of these 

regulations is Melissa Avrutine, Office 

of the Associate Chief Counsel 

(Procedure and Administration). 

List of Subjects in 26 CFR Part 301 

Employment taxes, Estate taxes, 

Excise taxes, Gift taxes, Income taxes, 

Penalties, Reporting and recordkeeping 

requirements. 

Amendments to the Regulations 

Accordingly, 26 CFR part 301 is 

amended as follows: 

PART 301—PROCEDURE AND 

ADMINISTRATION 

■ Paragraph 1. The authority citation 

for part 301 continues to read in part as 

follows: 

Authority: 26 U.S.C. 7805 * * * 

■ Par. 2. Section 301.6103(j)(1)–1T is 

added to read as follows: 

§ 301.6103(j)(1)–1T Disclosures of return 

information reflected on returns to officers 

and employees of the Department of 

Commerce for certain statistical purposes 

and related activities (temporary). 

(a) through (b)(1)(xvii) [Reserved]. For 

further guidance see § 301.6103(j)(1)– 

1(a) through (b)(1)(xvii). 

(xviii) Electronic Filing System 

Indicator. 

(xix) Return Processing Indicator. 

(xx) Paid Preparer Code. 

(b)(2) through (b)(6)(iii) [Reserved]. 

For further guidance see 

§ 301.6103(j)(1)–1(b)(2) through 

(b)(6)(iii). 

(b)(7) Officers or employees of the 

Internal Revenue Service will disclose 

the following return information 

reflected on Form 1098 ‘‘Mortgage 

Interest Statement’’ to officers and 

employees of the Bureau of the Census 

for purposes of, but only to the extent 

necessary in, conducting and preparing, 

as authorized by chapter 5 of title 13, 

United States Code, demographic 

statistics programs, censuses, and 

surveys— 

(i) Payee/Payer/Employee Taxpayer 

Identification Number; 

(ii) Payee/Payer/Employee Name 

(First, Middle, Last, Suffix); 

(iii) Street Address; 

(iv) City; 

(v) State; 

(vi) ZIP Code (9 digit); 

(vii) Posting Cycle Week; 

(viii) Posting Cycle Year; and 

(ix) Document Code. 

(c) through (d)(3)(ii) [Reserved]. For 

further guidance see § 301.6103(j)(1)– 

1(c) through (d)(3)(ii). 

(e) Effective/applicability date. This 

section applies to disclosures to the 

Bureau of the Census made on or after 

July 15, 2014. 

(f) Expiration date. The applicability 

of this section expires on or before July 

14, 2017. 

John Dalrymple, 

Deputy Commissioner for Services and 

Enforcement. 

Approved: June 9, 2014. 

Mark J. Mazur, 

Assistant Secretary of the Treasury (Tax 

Policy). 

[FR Doc. 2014–16599 Filed 7–14–14; 8:45 am] 

BILLING CODE 4830–01–P 

PENSION BENEFIT GUARANTY 

CORPORATION 

29 CFR Part 4022 

Benefits Payable in Terminated SingleEmployer Plans; Interest Assumptions 

for Paying Benefits 

AGENCY: Pension Benefit Guaranty 

Corporation. 

ACTION: Final rule. 

SUMMARY: This final rule amends the 

Pension Benefit Guaranty Corporation’s 

regulation on Benefits Payable in 

Terminated Single-Employer Plans to 

prescribe interest assumptions under 

the regulation for valuation dates in 

August 2014. The interest assumptions 

are used for paying benefits under 

terminating single-employer plans 

covered by the pension insurance 

system administered by PBGC. 

DATES: Effective August 1, 2014. 

FOR FURTHER INFORMATION CONTACT: 

Catherine B. Klion. (Klion.Catherine@

pbgc.gov), Assistant General Counsel for 

Regulatory Affairs, Pension Benefit 

Guaranty Corporation, 1200 K Street 

NW., Washington, DC 20005, 202–326– 

4024. (TTY/TDD users may call the 

Federal relay service toll-free at 1–800– 

877–8339 and ask to be connected to 

202–326–4024.) 

SUPPLEMENTARY INFORMATION: PBGC’s 

regulation on Benefits Payable in 

Terminated Single-Employer Plans (29 

CFR Part 4022) prescribes actuarial 

assumptions—including interest 

assumptions—for paying plan benefits 

under terminating single-employer 


wreier-aviles on DSK5TPTVN1PROD with RULES
41134 Federal Register / Vol. 79, No. 135 / Tuesday, July 15, 2014 / Rules and Regulations 

1Appendix B to PBGC’s regulation on Allocation 

of Assets in Single-Employer Plans (29 CFR Part 

4044) prescribes interest assumptions for valuing 

benefits under terminating covered single-employer 

plans for purposes of allocation of assets under 

ERISA section 4044. Those assumptions are 

updated quarterly. 

plans covered by title IV of the 

Employee Retirement Income Security 

Act of 1974. The interest assumptions in 

the regulation are also published on 

PBGC’s Web site (http://www.pbgc.gov). 

PBGC uses the interest assumptions in 

Appendix B to Part 4022 to determine 

whether a benefit is payable as a lump 

sum and to determine the amount to 

pay. Appendix C to Part 4022 contains 

interest assumptions for private-sector 

pension practitioners to refer to if they 

wish to use lump-sum interest rates 

determined using PBGC’s historical 

methodology. Currently, the rates in 

Appendices B and C of the benefit 

payment regulation are the same. 

The interest assumptions are intended 

to reflect current conditions in the 

financial and annuity markets. 

Assumptions under the benefit 

payments regulation are updated 

monthly. This final rule updates the 

benefit payments interest assumptions 

for August 2014.1

The August 2014 interest assumptions 

under the benefit payments regulation 

will be 1.25 percent for the period 

during which a benefit is in pay status 

and 4.00 percent during any years 

preceding the benefit’s placement in pay 

status. In comparison with the interest 

assumptions in effect for July 2014, 

these interest assumptions are 

unchanged. 

PBGC has determined that notice and 

public comment on this amendment are 

impracticable and contrary to the public 

interest. This finding is based on the 

need to determine and issue new 

interest assumptions promptly so that 

the assumptions can reflect current 

market conditions as accurately as 

possible. 

Because of the need to provide 

immediate guidance for the payment of 

benefits under plans with valuation 

dates during August 2014, PBGC finds 

that good cause exists for making the 

assumptions set forth in this 

amendment effective less than 30 days 

after publication. 

PBGC has determined that this action 

is not a ‘‘significant regulatory action’’ 

under the criteria set forth in Executive 

Order 12866. 

Because no general notice of proposed 

rulemaking is required for this 

amendment, the Regulatory Flexibility 

Act of 1980 does not apply. See 5 U.S.C. 

601(2). 

List of Subjects in 29 CFR Part 4022 

Employee benefit plans, Pension 

insurance, Pensions, Reporting and 

recordkeeping requirements. 

In consideration of the foregoing, 29 

CFR part 4022 is amended as follows: 

PART 4022—BENEFITS PAYABLE IN 

TERMINATED SINGLE-EMPLOYER 

PLANS 

■ 1. The authority citation for part 4022 

continues to read as follows: 

Authority: 29 U.S.C. 1302, 1322, 1322b, 

1341(c)(3)(D), and 1344. 

■ 2. In appendix B to part 4022, Rate Set 

250, as set forth below, is added to the 

table. 

Appendix B to Part 4022—Lump Sum 

Interest Rates for PBGC Payments 

* * * * * 

Rate set 

For plans with a valuation 

date Immediate 

annuity rate 

(percent) 

Deferred annuities 

(percent) 

On or after Before i1 i2 i3 n1 n2

*******

250 8–1–14 9–1–14 1.25 4.00 4.00 4.00 7 8 

■ 3. In appendix C to part 4022, Rate Set 

250, as set forth below, is added to the 

table. 

Appendix C to Part 4022—Lump Sum 

Interest Rates for Private-Sector 

Payments 

* * * * * 

Rate set 

For plans with a valuation 

date Immediate 

annuity rate 

(percent) 

Deferred annuities 

(percent) 

On or after Before i1 i2 i3 n1 n2

*******

250 8–1–14 9–1–14 1.25 4.00 4.00 4.00 7 8 


wreier-aviles on DSK5TPTVN1PROD with RULES
Federal Register / Vol. 79, No. 135 / Tuesday, July 15, 2014 / Rules and Regulations 41135 

Issued in Washington, DC, on this 10th day 

of July 2014. 

Judith Starr, 

General Counsel, Pension Benefit Guaranty 

Corporation. 

[FR Doc. 2014–16630 Filed 7–14–14; 8:45 am] 

BILLING CODE 7709–02–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 117 

[Docket No. USCG–2014–0560] 

Drawbridge Operation Regulations; 

Narrow Bay, Smith Point, NY 

AGENCY: Coast Guard, DHS. 

ACTION: Notice of deviation from 

drawbridge regulation. 

SUMMARY: The Coast Guard has issued a 

temporary deviation from the operating 

schedule that governs the Smith Point 

Bridge across Narrow Bay, mile 6.1, 

between Smith Point and Fire Island, 

New York. The deviation is necessary to 

facilitate the 5K Run for Literacy. This 

deviation allows the bridge to remain 

closed for one hour to facilitate public 

safety during a public event. 

DATES: This deviation is effective 

between 9 a.m. and 10 a.m. on 

September 6, 2014. 

ADDRESSES: The docket for this 

deviation, [USCG–2014–0560] is 

available at http://www.regulations.gov. 

Type the docket number in the 

‘‘SEARCH’’ box and click ‘‘SEARCH.’’ 

Click on Open Docket Folder on the line 

associated with this deviation. You may 

also visit the Docket Management 

Facility in Room W12–140, on the 

ground floor of the Department of 

Transportation West Building, 1200 

New Jersey Avenue SE., Washington, 

DC 20590, between 9 a.m. and 5 p.m., 

Monday through Friday, except Federal 

holidays. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this temporary 

deviation, call or email Ms. Judy LeungYee, Project Officer, First Coast Guard 

District, judy.k.leung-yee@uscg.mil, or 

(212) 668–7165. If you have questions 

on viewing the docket, call Cheryl 

Collins, Program Manager, Docket 

Operations, telephone 202–366–9826. 

SUPPLEMENTARY INFORMATION: The Smith 

Point Bridge, mile 6.1, across Narrow 

Bay, between Smith Point and Fire 

Island, New York, has a vertical 

clearance in the closed position of 18 

feet at mean high water and 19 feet at 

mean low water. The drawbridge 

operation regulations are listed at 33 

CFR 117.799(d). 

The waterway users are recreational 

vessels of various sizes. 

The owner of the bridge, Suffolk 

County Department of Public Works, 

requested a temporary deviation from 

the regulations to allow the bridge to 

remain closed for one hour to facilitate 

public safety during a public event, the 

5K Run for Literacy. 

Under this temporary deviation the 

Smith Point Bridge across Narrow Bay, 

mile 6.1, between Smith Point and Fire 

Island, may remain in the closed 

position between 9 a.m. and 10 a.m. on 

September 6, 2014. 

Vessels that can pass under the bridge 

in the closed position may do so at any 

time. There are no alternate routes; 

however, the bridge can open in an 

emergency. Vessel operators will be 

notified of the bridge closure through a 

Safety Marine Information Broadcast 

(SMIB) issued by the Coast Guard. 

In accordance with 33 CFR 117.35(e), 

the drawbridge must return to its regular 

operating schedule immediately at the 

end of the effective period of this 

temporary deviation. This deviation 

from the operating regulations is 

authorized under 33 CFR 117.35. 

Dated: July 2, 2014. 

C.J. Bisignano, 

Supervisory Bridge Management Specialist, 

First Coast Guard District. 

[FR Doc. 2014–16603 Filed 7–14–14; 8:45 am] 

BILLING CODE 9110–04–P 

DEPARTMENT OF HOMELAND 

SECURITY 

Coast Guard 

33 CFR Part 117 

[Docket No. USCG–2014–0566] 

Drawbridge Operation Regulation; 

Grassy Sound Channel, Middle 

Township, NJ 

AGENCY: Coast Guard, DHS. 

ACTION: Notice of deviation from 

drawbridge regulation. 

SUMMARY: The Coast Guard has issued a 

temporary deviation from the operating 

schedule that governs the Grassy Sound 

Channel Bridge (Ocean Drive), mile 1.0, 

at Middle Township, NJ. The deviation 

is necessary to accommodate the ‘‘Tri 

the Wildwoods Triathlon and 5k’’ event. 

This temporary deviation allows the 

bridge draw span to remain in the 

closed to navigation position for 4 hours 

during the event. 

DATES: This deviation is effective from 

6 a.m. until 10 a.m. on August 16, 2014. 

ADDRESSES: The docket for this 

deviation, [USCG–2014–0566] is 

available at http://www.regulations.gov. 

Type the docket number in the 

‘‘SEARCH’’ box and click ‘‘SEARCH.’’ 

Click on Open Docket Folder on the line 

associated with this deviation. You may 

also visit the Docket Management 

Facility in Room W12–140 on the 

ground floor of the Department of 

Transportation West Building, 1200 

New Jersey Avenue SE., Washington, 

DC 20590, between 9 a.m. and 5 p.m., 

Monday through Friday, except Federal 

holidays. 

FOR FURTHER INFORMATION CONTACT: If 

you have questions on this temporary 

deviation, call or email Mr. Jim 

Rousseau, Bridge Administration 

Branch Fifth District, Coast Guard; 

telephone (757) 398–6557, email 

James.L.Rousseau2@uscg.mil. If you 

have questions on reviewing the docket, 

call Cheryl Collins, Program Manager, 

Docket Operations, (202) 366–9826. 

SUPPLEMENTARY INFORMATION: Cape May 

County Department of Public Works, 

owner of the drawbridge, has requested 

on behalf of DelMosports, Inc. a 

temporary deviation from the current 

operating schedule to accommodate the 

‘‘Tri the Wildwoods Triathlon and 5K’’ 

event. 

The existing drawbridge operation 

regulations are listed at 33 CFR 117.721. 

On the day of the event, the normal 

operating schedule for the Grassy Sound 

Channel Bridge (Ocean Drive), at mile 

1.0, at Middle Township, NJ shall open 

on signal from 6 a.m. to 8 p.m. Two 

hours advance notice is required for all 

other openings by calling (609) 368– 

4591. The Grassy Sound Channel Bridge 

(Ocean Drive) across the Grassy Sound 

has a vertical clearance in the closed 

position of 15 feet above mean high 

water. 

Under this temporary deviation, the 

drawbridge will be allowed to remain in 

the closed to navigation position from 6 

a.m. to 10 a.m. on Saturday, August 16, 

2014 to accommodate the ‘‘Tri the 

Wildwoods Triathlon and 5K’’ event. 

The bridge will operate under its normal 

operating schedule at all other times. 

Log books indicate there has only been 

one opening request for this yearly 

event in 9 years and waterway users are 

accustomed to the temporary closure. 

Vessels able to pass under the bridge 

in the closed position may do so at any 

time and are advised to proceed with 

caution. The bridge will be able to open 

for emergencies. The New Jersey 

Intracoastal Waterway is an alternate 

route for vessels transiting this area and 

vessels may pass before and after the 

closure. The Coast Guard will also 


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