Federal Register / Vol. 89, No. 20 / Tuesday, January 30, 2024 / Notices 5995 

4Cf. Gen. Motors Corporation; Ruling on Petition 

for Determination of Inconsequential 

Noncompliance, 69 FR 19897, 19899 (Apr. 14, 

2004) (citing prior cases where noncompliance was 

expected to be imperceptible, or nearly so, to 

vehicle occupants or approaching drivers). 

5See Gen. Motors, LLC; Grant of Petition for 

Decision of Inconsequential Noncompliance, 78 FR 

35355 (June 12, 2013) (finding noncompliance had 

no effect on occupant safety because it had no effect 

on the proper operation of the occupant 

classification system and the correct deployment of 

an air bag); Osram Sylvania Prods. Inc.; Grant of 

Petition for Decision of Inconsequential 

Noncompliance, 78 FR 46000 (July 30, 2013) 

(finding occupant using noncompliant light source 

would not be exposed to significantly greater risk 

than occupant using similar compliant light 

source). 

6See Morgan 3 Wheeler Limited; Denial of 

Petition for Decision of Inconsequential 

Noncompliance, 81 FR 21663, 21666 (Apr. 12, 

2016); see also United States v. Gen. Motors Corp., 

565 F.2d 754, 759 (D.C. Cir. 1977) (finding defect 

poses an unreasonable risk when it ‘‘results in 

hazards as potentially dangerous as sudden engine 

fire, and where there is no dispute that at least some 

such hazards, in this case fires, can definitely be 

expected to occur in the future’’). 

7See Daimler Trucks North America, Denial of 

Petition for Decision of Inconsequential 

Noncompliance, 85 FR 67812 (Oct. 26, 2020); Letter 

from F. Seales, Jr., NHTSA, to C. Terry, GM (May 

26, 2000), https://isearch.nhtsa.gov/files/21281.

ztv.html. 

8See Daimler Trucks North America, Grant of 

Petition for Decision of Inconsequential 

Noncompliance, 87 FR 14325 (March 24, 2022), 

9 83 FR 7847 (February 22, 2018). 

10See General Motors Corporation; Grant of 

Application for Decision of Inconsequential 

Noncompliance, 66 FR 32871 (June 18, 2001). 

the CHMSL do not provide a conflicting 

message. The illumination of the 

CHMSL is intended to signify that the 

vehicles brakes are being applied and 

that the vehicle might be decelerating. 

Hazard warning lamps are intended as 

a more general message to nearby 

drivers that extra attention should be 

given to the vehicle. A brief 

illumination of the CHMSL while 

activating the hazard warning lamps 

would not confuse the intended general 

message, nor would the brief 

illumination in the absence of the other 

brake lamps cause confusion that the 

brakes were unintentionally applied.’’ 

VI. NHTSA’s Analysis 

The burden of establishing the 

inconsequentiality of a failure to comply 

with a performance requirement in an 

FMVSS is substantial and difficult to 

meet. Accordingly, the Agency has not 

found many such noncompliances 

inconsequential.4

In determining inconsequentiality of a 

noncompliance, NHTSA focuses on the 

safety risk to individuals who 

experience the type of event against 

which a recall would otherwise 

protect.5 In general, NHTSA does not 

consider the absence of complaints or 

injuries when determining if a 

noncompliance is inconsequential to 

safety. The absence of complaints does 

not mean vehicle occupants have not 

experienced a safety issue, nor does it 

mean that there will not be safety issues 

in the future.6 Further, because each 

inconsequential noncompliance petition 

must be evaluated on its own facts and 

determinations are highly factdependent, NHTSA does not consider 

prior determinations as binding 

precedent. Petitioners are reminded that 

they have the burden of persuading 

NHTSA that the noncompliance is 

inconsequential to safety. 

Polaris did not elaborate on the 

sensitivity of the lamp activation but 

did indicate that it can occur while 

going over a large bump like on railroad 

tracks and rumble strips. The Agency 

believes that the stop lamp illuminating 

for 500 milliseconds will be noticeable 

to other road users and going over a 

large bump on the road like railroad 

tracks or rumble strips is not an 

uncommon occurrence for motorists. 

Activation of the stop lamps for a 

purpose other than to indicate stopping 

or slowing will create confusion for the 

driver following the noncompliant 

vehicle as to the meaning of the signal, 

with the potential of causing the 

following driver to apply the brakes in 

his or her vehicle inappropriately. This 

is consistent with a decision on a 

petition by Daimler Trucks North 

America, and in response to a request 

for interpretation from General Motors.7

NHTSA continues to adhere to the 

position that inappropriate and 

misleading activation of stop lamps is 

consequential to safety. 

Polaris cited three separate Agency 

decisions to past petitions for 

inconsequential noncompliance in its 

petition. The Agency does not find any 

of these past decisions to be relevant to 

the subject petition. Each decision is 

addressed below: 

First, the Daimler Trucks North 

America petition granted by the Agency 

involved the automatic illumination of 

the stop lamps when the low air 

pressure warning indicator light 

illuminates, which is an event that will 

occur once and will need to be resolved 

by the operator before continuing 

operation of the vehicle.8 The affected 

vehicle is taken out of service until the 

brake system can be repaired, which 

distinguishes that decision from the 

subject petition. 

Second, the General Motors, LLC 

(GM) petition concerns the activation of 

parking lamps which distinguishes it 

from the subject petition because 

parking lamps and stop lamps serve 

completely different functions.9

Furthermore, other factors distinguish 

the two petitions including that the noncompliance in the GM petition only 

occurs during the daytime when parking 

lamps are generally not in use, requires 

a fairly high degree of unlikely user 

intervention for the non-compliance to 

occur, and the non-compliance will 

correct itself during operation. NHTSA 

believes that the noncompliance at issue 

here has the potential to occur more 

frequently because large bumps, railroad 

tracks, and rumble strips are obstacles 

found on roads throughout the United 

States. 

The third decision notice which was 

cited, which is also in response to a GM 

petition, involved the brief activation of 

the center high-mounted stop lamp 

(‘‘CHMSL’’) when the hazard warning 

lamp switch was depressed to its limit 

of travel.10 The Agency has previously 

concluded that this brief illumination of 

the CHMSL upon activation of the 

hazard warning signal did ‘‘not provide 

a conflicting message’’ and ‘‘would not 

confuse the intended general message.’’ 

In contrast, noticeable activation of the 

stop lamps in the manner described in 

Polaris’s petition would send a 

conflicting or confusing message since 

the vehicle appears to be braking when 

it is not. 

VII. NHTSA’s Decision 

In consideration of the foregoing, 

NHTSA has decided that Polaris has not 

met its burden of persuasion that the 

subject FMVSS No. 108 noncompliance 

is inconsequential to motor vehicle 

safety. Accordingly, Polaris’s petition is 

hereby denied and Polaris is 

consequently obligated to provide 

notification of and free remedy for that 

noncompliance under 49 U.S.C. 30118 

and 30120. 

(Authority: 49 U.S.C. 30118, 30120: 

delegations of authority at 49 CFR 1.95 and 

501.8) 

Eileen Sullivan, 

Associate Administrator for Enforcement. 

[FR Doc. 2024–01736 Filed 1–29–24; 8:45 am] 

BILLING CODE 4910–59–P 

DEPARTMENT OF THE TREASURY 

Financial Crimes Enforcement Network 

Agency Information Collection 

Activities; Proposed Collection; 

Comment Request; Beneficial 

Ownership Information Requests 

AGENCY: Financial Crimes Enforcement 

Network (FinCEN), Treasury. 


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5996 Federal Register / Vol. 89, No. 20 / Tuesday, January 30, 2024 / Notices 

1FinCEN, Beneficial Ownership Information 

Access and Safeguards, 88 FR 88732 (Dec. 22, 

2023), available at https://www.federalregister.gov/ 

documents/2023/12/22/2023-27973/beneficialownership-information-access-and-safeguards. 

2Specifically, the CTA is Title LXIV of the 

William M. (Mac) Thornberry National Defense 

Authorization Act for Fiscal Year 2021, Public Law 

116–283 (Jan. 1, 2021). Division F of the NDAA is 

the Anti-Money Laundering Act of 2020, which 

includes the CTA. Section 6403 of the CTA, among 

other things, amends the Bank Secrecy Act (BSA) 

by adding a new section 5336, Beneficial 

Ownership Information Reporting Requirements, to 

subchapter II of chapter 53 of title 31, United States 

Code. 

3Public Law 104–13, 44 U.S.C. 3506(c)(2)(A). 

4See 5 CFR 1320.3(k). 

5See Table 1 in the RIA of the BOI Access Rule 

for the types of financial institutions covered by 

this notice. 88 FR 88789 (Dec. 22, 2023). 

ACTION: Notice and request for 

comments. 

SUMMARY: FinCEN invites all interested 

parties to comment on the proposed 

information collection associated with 

requests made to FinCEN, by certain 

persons, for beneficial ownership 

information, consistent with the 

requirements of the Beneficial 

Ownership Information Access and 

Safeguards final rule. The details 

included in the information collection 

are listed below. This request for 

comment is made pursuant to the 

Paperwork Reduction Act of 1995. 

DATES: Written comments must be 

received on or before April 1, 2024. 

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–2024– 

0002 and the specific Office of 

Management and Budget (OMB) control 

number 1506–0077. 

• Mail: Policy Division, Financial 

Crimes Enforcement Network, P.O. Box 

39, Vienna, VA 22183. Refer to Docket 

Number FINCEN–2024–0002 and OMB 

control number 1506–0077. 

Please submit comments by one 

method only. Comments will be 

reviewed consistent with the Paperwork 

Reduction Act of 1995 (PRA) and 

applicable OMB regulations and 

guidance. 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 1–800–767– 

2825 or electronically at https://

www.fincen.gov/contact. 

SUPPLEMENTARY INFORMATION: 

I. Statutory and Regulatory Provisions 

FinCEN issued the Beneficial 

Ownership Information Access and 

Safeguards final rule (the ‘‘BOI Access 

Rule’’) on December 22, 2023,1

regarding access by authorized 

recipients to beneficial ownership 

information (BOI) that will be reported 

to FinCEN pursuant to Section 6403 of 

the Corporate Transparency Act (CTA), 

enacted into law as part of National 

Defense Authorization Act for Fiscal 

Year 2021 (NDAA).2 The BOI Access 

Rule implements the strict protocols 

required by the CTA to protect sensitive 

personally identifiable information (PII) 

reported to FinCEN and establish the 

circumstances in which specified 

recipients have access to BOI, along 

with the data protection protocols and 

oversight mechanisms applicable to 

each recipient category. The disclosure 

of BOI to authorized recipients in 

accordance with appropriate protocols 

and oversight will help law enforcement 

and national security agencies prevent 

and combat money laundering, terrorist 

financing, tax fraud, and other illicit 

activity, as well as protect national 

security. 

II. Paperwork Reduction Act of 1995 3

Title: Beneficial Ownership 

Information (BOI) Requests. 

OMB Control Number: 1506–0077. 

Type of Review: Regular. 

Description: As explained in the 

regulatory impact analysis (RIA) of the 

BOI Access Rule, the rule requires State, 

local, and Tribal agencies and financial 

institutions that access BOI to satisfy 

certain security and confidentiality 

requirements, including establishing 

certain standards and procedures, and 

developing and implementing 

safeguards. As a prerequisite for access 

to BOI, the rule also requires State, 

local, and Tribal agencies and financial 

institutions to provide a certification for 

each BOI request. Along with the 

certification, State, local, and Tribal 

agencies and financial institutions will 

also provide information by filling out 

data fields for each BOI request; these 

data fields are set out in the Appendix. 

While some data fields will be optional, 

others will be required. 

As previewed in the BOI Access Rule, 

FinCEN is issuing this notice with 

regard to the information collection 

associated with such BOI requests. 

Thus, this notice seeks comment only 

on the burden for the information 

collection associated with such BOI 

requests, which corresponds to the 

burden associated with ‘‘submit[ting] 

written certification for each request 

that it meets certain requirements.’’ 

Further details about those burdens are 

set forth in the BOI Access Rule RIA 

(see Action G within Tables 1 and 2) 

and below. Also, as previously noted in 

the BOI Access Rule, FinCEN intends to 

provide additional detail regarding the 

form and manner of BOI requests for all 

categories of authorized recipients 

through specific instructions and 

guidance. 

The following analysis represents the 

entirety of the burden under OMB 

control number 1506–0077, which is 

associated with the BOI Access Rule. 

FinCEN previously solicited public 

comment on the full burden of the 

Access Rule, including the certification 

requirement for the information 

collection associated with BOI requests, 

as part of that rulemaking. 

Form: None. 

Affected Public: State, local and 

Tribal agencies, self-regulatory 

organizations (SROs), and financial 

institutions with customer due diligence 

requirements under applicable law, as 

defined in the final BOI access rule. 

While Federal and foreign requesters are 

able to access BOI after meeting specific 

requirements, FinCEN does not include 

them in the PRA analysis because the 

regulations implementing the PRA 

define ‘‘person’’ as an individual, 

partnership, association, corporation 

(including operations of governmentowned contractor-operated facilities), 

business trust, or legal representative, 

an organized group of individuals, a 

State, territorial, tribal, or local 

government or branch thereof, or a 

political subdivision of a State, territory, 

Tribal, or local government or a branch 

of a political subdivision.4 For foreign 

requesters in particular, FinCEN 

assumes that such requests will be made 

at the national level. 

Estimated Number of Respondents: 

15,934 entities. This total is composed 

of an estimated 215 State, local, and 

Tribal agencies, of which 158 are State, 

local, and Tribal law enforcement 

agencies and 57 are State regulatory 

agencies, 3 SROs, and 15,716 financial 

institutions.5 While the requirements in 

the rule are only imposed on those that 

optionally access BOI, for purposes of 

PRA burden analysis, FinCEN assumes 

maximum participation from State, 

local, and Tribal agencies, SROs, and 

financial institutions. 

Frequency of Response: As required; 

varies depending on the requirement. 

Estimated Time per Respondent: See 

‘‘Hours per Entity’’ column in Table 1 

below for estimated time for each 

requirement per respondent. 

Estimated Total Annual Reporting 

and Recordkeeping Burden: FinCEN 

estimates that during year 1 the annual 


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Federal Register / Vol. 89, No. 20 / Tuesday, January 30, 2024 / Notices 5997 

6The 5-year average equals the sum of (Year 1 

burden hours of 8,743,781 + Year 2 burden hours 

of 3,616,964 + Year 3 burden hours of 3,616,964 + Year 4 burden hours of 3,616,964 + Year 5 burden 

hours of 3,616,964) divided by 5. 

hourly burden will be 8,743,781 hours. 

In year 2 and onward, FinCEN estimates 

that the annual hourly burden will be 

3,616,964 hours. The annual estimated 

burden hours for State, local, and Tribal 

entities and SROs is 2,268,789 hours in 

the first year, and 1,699,612 hours in 

year 2 and onward. As shown in Table 

1 below, the hourly burden in year 1 for 

State, local, and Tribal agencies and 

SROs includes the hourly burden 

associated with the following 

requirements in the rule: enter into an 

agreement with FinCEN and establish 

standards and procedures (Action B); 

establish a secure system to store BOI 

(Action D); establish and maintain an 

auditable system of standardized 

records for requests (Action E); submit 

written certification for each request 

that it meets certain requirements 

(Action G); restrict access to appropriate 

persons within the entity (Action H); 

conduct an annual audit and cooperate 

with FinCEN’s annual audit (Action I); 

obtain certification of standards and 

procedures, initially and then semiannually, by the head of the entity 

(Action J); and provide annual reports 

on procedures (Action K). The hourly 

burden in year 2 and onward for State, 

local, and Tribal agencies and SROs is 

associated with the same requirements 

as year 1, with the exception of Action 

B because FinCEN expects this action 

will result in costs for these entities in 

year 1 only. 

The annual estimated hourly burden 

for financial institutions is 6,474,992 

hours in the first year and 1,917,352 

hours in year 2 and onward. The hourly 

burden for financial institutions in year 

1 is associated with the following: 

develop and implement administrative 

and physical safeguards (Action A); 

develop and implement technical 

safeguards (Action C); obtain and 

document customer consent (Action F); 

submit certification for each request that 

it meets certain requirements (Action 

G); undergo training (Action H); comply 

with certain geographic restrictions 

(Action L); and notify FinCEN if they 

receive an information demand from a 

foreign government (Action M). The 

hourly burden in year 2 and onward for 

financial institutions is associated only 

with the requirements for Actions F, G, 

and H because FinCEN expects the other 

actions will result in costs for these 

entities in year 1 only. 

Annual estimated burden declines in 

year 2 and onward because State, local, 

and Tribal agencies, SROs, and financial 

institutions no longer need to complete 

Actions A and B, and have a lower 

hourly burden for Actions E and F. 

State, local, and Tribal law enforcement 

agencies have a lower hourly burden for 

Action G. Table 1 lists the type of entity, 

the number of entities, the hours per 

entity, and the total hourly burden by 

action. For Actions A, B, C, D, E, F, I, 

J, K, L, and M the hours per entity are 

the maximum of the range estimated in 

the cost analysis of the RIA. For Action 

G and H, the hours per entity 

calculations are specified in footnotes to 

Table 1. Total annual hourly burden is 

calculated by multiplying the number of 

entities by the hours per entity for each 

action. In each subsequent year after 

initial implementation, FinCEN 

estimates that the total hourly annual 

burden is 3,616,964. This results in a 5- 

year average burden estimate of 

approximately 4,642,327 hours.6

This notice seeks comment on the 

estimated total annual reporting and 

recordkeeping burden for the 

information collection associated with 

BOI requests, specifically the 

requirement to submit written 

certification for each request that it 

meets certain requirements (Action G in 

Table 1 below). FinCEN previously 

provided notice and an opportunity for 

public comment on all actions that 

constitute the reporting and 

recordkeeping burden associated with 

the BOI Access Rule, including the 

certification requirement, as well as the 

estimated total annual burden, through 

the BOI Access rulemaking. As 

explained above, FinCEN is issuing this 

notice with regard to the information 

collection associated with BOI requests; 

therefore, this notice seeks comment 

only on the certification requirement. 

TABLE 1—ANNUAL HOURLY BURDEN ASSOCIATED WITH RULE REQUIREMENTS

Action Type of entity Number of 

entities Hours per entity Total annual hourly burden 

A. Develop and implement 

administrative and physical 

safeguards.

Financial institutions .............. 15,716 240 in Year 1; 0 in Years 2+ 3,771,840 in Year 1; 0 in 

Years 2+. 

B. Enter into an agreement 

with FinCEN and establish 

standards and procedures.

State, local, and Tribal agencies and SROs.218 300 in Year 1; 0 in Years 2+ 65,400 in Year 1; 0 in Years 

2+. 

C. Develop and implement 

technical safeguards.

Financial institutions .............. 15,716 0 in Year 1; 0 in Years 2+ ..... 0 in Year 1; 0 in Years 2+. 

D. Establish a secure system 

to store BOI.

State, local, and Tribal agencies and SROs.218 300 in Year 1; 4 in Years 2+ 65,400 in Year 1; 872 in 

Years 2+. 

E. Establish and maintain an 

auditable system of standardized records for requests.

State, local, and Tribal agencies and SROs.218 200 in Year 1; 20 in Years 2+ 43,600 in Year 1; 4,360 in 

Years 2+. 

F. Obtain and document customer consent.Financial institutions .............. 15,716 70 in Year 1; 20 in Years 2+ 1,100,120 in Year 1; 314,320 

in Years 2+. 

G. Submit certification for 

each request that it meets 

certain requirements 1.

Financial institutions .............. 15,716 94 in Year 1; 94 in Years 2+ 1,474,161 in Year 1; 

1,474,161 in Years 2+. 

G. Submit written certification 

for each request that it 

meets certain requirements, 

including court authorization.

State, local, and Tribal law 

enforcement.

158 12,975 in Year 1; 10,443 in 

Years 2+.

2,050,003 in Year 1; 

1,649,994 in Years 2+. 

G. Submit written certification 

for each request that it 

meets certain requirements.

State regulatory agencies and 

SROs.

60 125 in Year 1; 125 in Years 

2+.

7,500 in Year 1; 7,500 in 

Years 2+. 


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5998 Federal Register / Vol. 89, No. 20 / Tuesday, January 30, 2024 / Notices 

7 88 FR 88791 (Dec. 22, 2023). 8The 5-year average equals the sum of (Year 1 

costs of $868,200,270 + Year 2 costs of 

$339,309,502 + Year 3 costs of $339,309,502 + Year 

4 costs of $339,309,502 + Year 5 costs of 

$339,309,502) divided by 5. 

TABLE 1—ANNUAL HOURLY BURDEN ASSOCIATED WITH RULE REQUIREMENTS—Continued 

Action Type of entity Number of 

entities Hours per entity Total annual hourly burden 

H. Undergo training 2 .............. Financial institutions .............. 15,716 8 in Year 1; 8 in Years 2+ ..... 128,871 in Year 1; 128,871 in 

Years 2+. 

H. Restrict access to appropriate persons within the 

entity, which specifies that 

appropriate persons will undergo training 3.

State, local, and Tribal agencies and SROs.218 9 in Year 1, 9 in Years 2+ ..... 2,006 in Year 1; 2,006 in 

Years 2+. 

I. Conduct an annual audit 

and cooperate with 

FinCEN’s annual audit.

State, local, and Tribal agencies and SROs.218 160 in Year 1; 160 in Years 

2+.

34,880 in Year 1; 34,880 in 

Years 2+. 

J. Obtain certification of 

standards and procedures 

initially and then semi-annually, by the head of the entity.

State, local, and Tribal agencies and SROs.218 Included in I. .......................... Included in I. 

K. Provide initial and then an 

annual report on procedures.

State, local, and Tribal agencies and SROs.218 Included in I. .......................... Included in I. 

L. Comply with certain geographic restrictions.Financial institutions .............. 15,716 0 in Year 1; 0 in Years 2+ ..... 0 in Year 1; 0 in Years 2+. 

M. Notify FinCEN of information demand from foreign 

government.

Financial institutions .............. 15,716 0 in Year 1; 0 in Years 2+ ..... 0 in Year 1; 0 in Years 2+. 

Total Annual Hourly Burden................................................. ........................ ................................................ 8,743,781 in Year 1; 

3,616,964 in Years 2+. 

1For all types of entities, the hours per entity for Action G is the per entity share of the aggregate burden estimated in the RIA. 2For financial institutions, the hours per entity for Action H equals the weighted average of the large and small financial institutions’ maximum 

burden estimated in the RIA. 3For State, local, and Tribal agencies and SROs, the hours per entity for Action H equals the per entity share of the aggregate burden. 

Estimated Total Annual Reporting 

and Recordkeeping Cost: As described 

in Table 3 of the BOI Access Rule RIA, 

FinCEN calculated the fully loaded 

hourly wage for each type of affected 

entity type.7 Using these estimated 

wages, the total cost of the annual 

burden in year 1 is $868,200,270. In 

year 2 and onward, FinCEN estimates 

that the total cost of the annual burden 

is $339,309,502, owing to Actions A and 

B only imposing burdens in year 1, 

Actions D and E having lower annual 

per entity burdens, and Action G having 

lower burden per request for State, 

local, and Tribal law enforcement 

agencies. The annual estimated cost for 

State, local, and Tribal agencies and 

SROs is $181,851,118 in the first year 

and $136,070,190 in year 2 and onward. 

The annual estimated cost for financial 

institutions is $686,349,152 in the first 

year and $203,239,312 in year 2 and 

onward. The 5-year average annual cost 

estimate is $445,087,656.8

This notice seeks comment on the 

estimated total annual reporting and 

recordkeeping cost for the information 

collection associated with BOI requests, 

specifically the requirement to ‘‘submit 

written certification for each request 

that it meets certain requirements’’ 

(Action G in Table 2 below). FinCEN 

previously provided notice and an 

opportunity for public comment on all 

actions that constitute the reporting and 

recordkeeping cost associated with the 

BOI Access Rule, including the 

certification requirement, as well as the 

estimated total annual reporting and 

recordkeeping cost, through the BOI 

Access rulemaking. As FinCEN is 

issuing this notice with regard to the 

information collection associated with 

BOI requests, this notice seeks comment 

only on the certification requirement. 

TABLE 2—ANNUAL COST ASSOCIATED WITH RULE REQUIREMENTS

Action Type of entity Hourly wage Total annual hourly burden Total annual cost 

A. Develop and implement 

administrative and physical 

safeguards.

Financial institutions .............. $106 3,771,840 in Year 1; 0 in 

Years 2+.

$399,815,040 in Year 1; $0 in 

Years 2+. 

B. Enter into an agreement 

with FinCEN and establish 

standards and procedures.

State, local, and Tribal agencies.80 65,400 in Year 1; 0 in Years 

2+.

$5,232,000 in Year 1; $0 in 

Years 2+. 

C. Develop and implement 

technical safeguards.

Financial institutions .............. 106 0 in Year 1; 0 in Years 2+ ..... $0 in Year 1; $0 in Years 2+. 

D. Establish a secure system 

to store BOI.

State, local, and Tribal agencies.80 65,400 in Year 1; 872 in 

Years 2+.

$5,232,000 in Year 1; 

$69,760 in Years 2+. 


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TABLE 2—ANNUAL COST ASSOCIATED WITH RULE REQUIREMENTS—Continued 

Action Type of entity Hourly wage Total annual hourly burden Total annual cost 

E. Establish and maintain an 

auditable system of standardized records for requests.

State, local, and Tribal agencies.80 43,600 in Year 1; 4,360 in 

Years 2+.

$3,488,000 in Year 1; 

$348,800 in Years 2+. 

F. Obtain and document customer consent.Financial institutions .............. 106 1,100,120 in Year 1; 314,320 

in Years 2+.

$116,612,720 in Year 1; 

$33,317,920 in Years 2+. 

G. Submit certification for 

each request that it meets 

certain requirements.

Financial institutions .............. 106 1,474,161 in Year 1; 

1,474,161 in Years 2+.

$156,261,066 in Year 1; 

$156,261,066 in Years 2+. 

G. Submit written certification 

for each request that it 

meets certain requirements, 

including court authorization.

State, local, and Tribal law 

enforcement.

80 2,050,003 in Year 1; 

1,649,994 in Years 2+.

$164,000,240 in Year 1; 

$131,999,520 in Years 2+. 

G. Submit written certification 

for each request that it 

meets certain requirements.

State regulatory agencies ...... 80 7,500 in Year 1; 7,500 in 

Years 2+.

$600,000 in Year 1; $600,000 

in Years 2+. 

H. Undergo training ................ Financial institutions .............. 106 128,871 in Year 1; 128,871 in 

Years 2+.

$13,660,326 in Year 1; 

$13,660,326 in Years 2+. 

H. Restrict access to appropriate persons within the 

agency, which specifies that 

appropriate persons will undergo training.

State, local, and Tribal agencies.80 2,006 in Year 1; 2,006 in 

Years 2+.

$160,480 in Year 1; $160,480 

in Years 2+. 

I. Conduct an annual audit 

and cooperate with 

FinCEN’s annual audit.

State, local, and Tribal agencies.80 34,880 in Year 1; 34,880 in 

Years 2+.

$2,790,400 in Year 1; 

$2,790,400 in Years 2+. 

J. Obtain certification of 

standards and procedures 

initially and then semi-annually, by the head of the entity.

State, local, and Tribal agencies.80 Included in I. .......................... Included in I. 

K. Provide initial and then an 

annual report on procedures.

State, local, and Tribal agencies.80 Included in I. .......................... Included in I. 

L. Comply with certain geographic restrictions.Financial institutions .............. 106 0 in Year 1; 0 in Years 2+ ..... $0 in Year 1; $0 in Years 2+. 

M. Notify FinCEN of information demand from foreign 

government.

Financial institutions .............. 106 0 in Year 1; 0 in Years 2+ ..... $0 in Year 1; $0 in Years 2+. 

Actions B, D, E, G, H, I–K ..... SRO ....................................... 106 3,283 in Year 1; 955 in Years 

2+.

$347,998 in Year 1; $101,230 

in Years 2+. 

Total Annual Cost ........... ........................ $868,200,270 in Year 1; 

$339,309,502 in Years 2+. 

Request for Comments: 

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 OMB control 

number. Comments submitted in 

response to this notice will be 

summarized and 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 technology; and (e) estimates of 

capital or start-up costs and costs of 

operation, maintenance, and purchase 

of services required to provide 

information. 

(Authority: 44 U.S.C. 3501 et seq.) 

Andrea M. Gacki, 

Director, Financial Crimes Enforcement 

Network. 

Appendix—Beneficial Ownership 

Information (BOI) Request: Summary of 

Data Fields by Authorized Recipient 

I. Financial Institutions 

Proposed data fields and certification: 

Company name (reporting company legal 

name) 

Identifier type (reporting company tax 

identification number type; select one 

from list of options) 

• EIN (Employer Identification Number) 

• SSN/ITIN (Social Security Number/ 

Individual Taxpayer Identification 

Number) 

• Foreign 

Company identifier (reporting company tax 

identification number) 

[Select ‘‘I agree’’] I certify on behalf of the 

financial institution making this request that: 

The financial institution is subject to 

customer due diligence requirements under 

applicable law and is requesting beneficial 

ownership information from FinCEN to 

facilitate the financial institution’s 

compliance with those requirements; the 

financial institution has obtained and 

documented the consent of the above 

identified company to request its beneficial 

ownership information from FinCEN; and the 

financial institution has fulfilled all other 

requirements of 31 CFR 1010.955(d)(2). 

II. State, Local, and Tribal Law Enforcement 

Agencies 

Proposed data fields and certification: 

Agency Reference (agency’s internal 

reference name for BOI Request) 


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6000 Federal Register / Vol. 89, No. 20 / Tuesday, January 30, 2024 / Notices 

Name of court of competent jurisdiction 

Date of court authorization 

Court authorization description (description 

of the information the court has 

authorized the agency to seek) 

Checkbox Request on behalf of another 

person in the same agency (select this 

checkbox if the BOI Request is made on 

behalf of another person in the same 

agency; provide the following 

information for this person, as 

applicable: first name; middle name; last 

name; title; city; country/jurisdiction; 

state; ZIP/foreign postal code) 

[Select ‘‘I agree’’] I certify that a court of 

competent jurisdiction has authorized my 

agency to seek this information in a criminal 

or civil investigation and that the requested 

information is relevant to the criminal or 

civil investigation. 

III. State Regulatory Agencies 

Proposed data fields and certification: 

Financial Institution(s) 

Financial Institution Employer Identification 

Number 

Reporting Company Legal Name 

Reporting Company Tax Identification 

Number 

Start Date 

End Date 

[Select ‘‘I agree’’] I certify that my agency 

is authorized by law to assess, supervise, 

enforce, or otherwise determine the 

compliance of a relevant financial institution 

with customer due diligence requirements 

under applicable law and that my agency 

will use the requested information solely for 

the purpose of conducting such activities. 

[FR Doc. 2024–01828 Filed 1–29–24; 8:45 am] 

BILLING CODE 4810–02–P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

Notice of OFAC Sanctions Actions 

AGENCY: Office of Foreign Assets 

Control, Treasury. 

ACTION: Notice. 

SUMMARY: The U.S. Department of the 

Treasury’s Office of Foreign Assets 

Control (OFAC) is publishing the names 

of one or more persons that have been 

placed on OFAC’s Specially Designated 

Nationals and Blocked Persons List 

(SDN List) based on OFAC’s 

determination that one or more 

applicable legal criteria were satisfied. 

All property and interests in property 

subject to U.S. jurisdiction of these 

persons are blocked, and U.S. persons 

are generally prohibited from engaging 

in transactions with them. 

DATES: See SUPPLEMENTARY INFORMATION

section for effective date(s). 

FOR FURTHER INFORMATION CONTACT: 

OFAC: Bradley Smith, Director, tel.: 

202–622–2490; Associate Director for 

Global Targeting, tel.: 202–622–2420; 

Assistant Director for Licensing, tel.: 

202–622–2480; Assistant Director for 

Regulatory Affairs, tel.: 202–622–4855; 

or Assistant Director for Sanctions 

Enforcement, Compliance & Analysis, 

tel.: 202–622–2490. 

SUPPLEMENTARY INFORMATION: 

Electronic Availability 

The SDN List and additional 

information concerning OFAC sanctions 

programs are available on OFAC’s 

website (ofac.treasury.gov). 

Notice of OFAC Action(s) 

On January 25, 2024, OFAC 

determined that the property and 

interests in property subject to U.S. 

jurisdiction of the following persons are 

blocked under the relevant sanctions 

authority listed below. 

Individuals 

1. AL-ATIFI, Mohamed (a.k.a. AL-ATIFI, 

Mohammad; a.k.a. AL-ATIFI, Mohammed; 

a.k.a. AL-ATIFI, Muhammad Nasser), Yemen; 

DOB 1969; POB Bani Atef Village, Sanaa 

Governorate, Yemen; nationality Yemen; 

Gender Male; Secondary sanctions risk: 

section 1(b) of Executive Order 13224, as 

amended by Executive Order 13886 

(individual) [SDGT]. 

Designated pursuant to section 1(a)(iii)(C) 

of Executive Order 13224 of September 23, 

2001, ‘‘Blocking Property and Prohibiting 

Transactions With Persons Who Commit, 

Threaten to Commit, or Support Terrorism,’’ 

66 FR 49079, as amended by Executive Order 

13886 of September 9, 2019, ‘‘Modernizing 

Sanctions To Combat Terrorism,’’ 84 FR 

48041 (E.O. 13224, as amended), for having 

materially assisted, sponsored, or provided 

financial, material, or technological support 

for, or goods or service to or in support of, 

an act of terrorism, as defined in section 3(d) 

of E.O. 13224, as amended. 

2. AL-QADIRI, Muhammad Ali (a.k.a. ALQADIRI, Muhammad; a.k.a. AL-QADRI, 

Muhammad), Yemen; DOB 1970; POB 

Hudaydah Governorate, Yemen; nationality 

Yemen; Gender Male; Secondary sanctions 

risk: section 1(b) of Executive Order 13224, 

as amended by Executive Order 13886 

(individual) [SDGT]. 

Designated pursuant to section 1(a)(iii)(C) 

of E.O. 13224, as amended, for having 

materially assisted, sponsored, or provided 

financial, material, or technological support 

for, or goods or service to or in support of, 

an act of terrorism, as defined in section 3(d) 

of E.O. 13224, as amended. 

3. AL-TALIBI, Muhammad Ahmad (a.k.a. 

‘‘AL-TALIBI, Abi Ja’far’’), Yemen; DOB 01 Jan 

1983; POB Dhahyan, Sa’dah, Yemen; 

nationality Yemen; Gender Male; Secondary 

sanctions risk: section 1(b) of Executive 

Order 13224, as amended by Executive Order 

13886; Passport 01197425 (Yemen) 

(individual) [SDGT]. 

Designated pursuant to section 1(a)(iii)(C) 

of E.O. 13224, as amended, for having 

materially assisted, sponsored, or provided 

financial, material, or technological support 

for, or goods or service to or in support of, 

an act of terrorism, as defined in section 3(d) 

of E.O. 13224, as amended. 

4. AL-NABI, Muhammad Fadl Abd (a.k.a. 

NABI, Mohammed Fadl Abdul), Yemen; DOB 

01 Jan 1952; nationality Yemen; Gender 

Male; Secondary sanctions risk: section 1(b) 

of Executive Order 13224, as amended by 

Executive Order 13886 (individual) [SDGT]. 

Designated pursuant to section 1(a)(iii)(C) 

of E.O. 13224, as amended, for having 

materially assisted, sponsored, or provided 

financial, material, or technological support 

for, or goods or service to or in support of, 

an act of terrorism, as defined in section 3(d) 

of E.O. 13224, as amended. 

Dated: January 25, 2024. 

Bradley T. Smith, 

Director, Office of Foreign Assets Control, 

U.S. Department of the Treasury. 

[FR Doc. 2024–01775 Filed 1–29–24; 8:45 am] 

BILLING CODE 4810–AL–P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

Notice of OFAC Sanctions Actions 

AGENCY: Office of Foreign Assets 

Control, Treasury. 

ACTION: Notice. 

SUMMARY: The U.S. Department of the 

Treasury’s Office of Foreign Assets 

Control (OFAC) is publishing the names 

of one or more persons that have been 

placed on OFAC’s Specially Designated 

Nationals and Blocked Persons List 

(SDN List) based on OFAC’s 

determination that one or more 

applicable legal criteria were satisfied. 

All property and interests in property 

subject to U.S. jurisdiction of these 

persons are blocked, and U.S. persons 

are generally prohibited from engaging 

in transactions with them. 

DATES: See SUPPLEMENTARY INFORMATION

section for applicable date(s). 

FOR FURTHER INFORMATION CONTACT: 

OFAC: Bradley Smith, Director, tel.: 

202–622–2490; Associate Director for 

Global Targeting, tel.: 202–622–2420; 

Assistant Director for Licensing, tel.: 

202–622–2480; Assistant Director for 

Regulatory Affairs, tel.: 202–622–4855; 

or Assistant Director for Sanctions 

Enforcement, Compliance & Analysis, 

tel.: 202–622–2490. 

SUPPLEMENTARY INFORMATION: 

Electronic Availability 

The SDN List and additional 

information concerning OFAC sanctions 

programs are available on OFAC’s 

website (ofac.treasury.gov). 

Notice of OFAC Action(s) 

On January 22, 2024, OFAC 

determined that the property and 


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