Federal Register / Vol. 89, No. 177 / Thursday, September 12, 2024 / Notices 74375 

[FR Doc. 2024–20619 Filed 9–11–24; 8:45 am] 

BILLING CODE P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

[Docket No.: OFAC–2024–0003] 

Agency Information Collection 

Activities; Proposed Collection; 

Comment Request for Reporting, 

Procedures and Penalties Regulations 

and Other Information Collections 

Maintained by the Office of Foreign 

Assets Control 

AGENCY: Office of Foreign Assets 

Control, Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Department of the 

Treasury, as part of its continuing effort 

to reduce paperwork and respondent 

burden, invites the general public and 

other Federal agencies to comment on 

proposed or continuing information 

collections, as required by the 

Paperwork Reduction Act of 1995. 

Currently, the Office of Foreign Assets 

Control (OFAC) within the Department 

of the Treasury is soliciting comments 

concerning OFAC’s information 

collection requirements contained 

within OFAC’s Reporting, Procedures 

and Penalties Regulations, the Cuban 

Assets Control Regulations, the Iran 

Financial Sanctions Regulations, and 

the Hizballah Financial Sanctions 

Regulations. 

DATES: Written comments must be 

submitted on or before November 12, 

2024 to be assured of consideration. 

ADDRESSES: You may submit comments 

by either of the following methods: 

Federal eRulemaking Portal: http://

www.regulations.gov. Follow the 

instructions on the website for 

submitting comments. 

Email: OFACreport@treasury.gov with 

Attn: Request for Comments (Reporting, 

Procedures and Penalties Regulations). 

Instructions: All submissions received 

must include the agency name and refer 

to Docket Number OFAC–2024–0003 

and the Office of Management and 

Budget (OMB) control number 1505– 

0164. Comments received will be made 

available to the public via https://

www.regulations.gov or upon request, 

without change and including any 

personal information provided. 

FOR FURTHER INFORMATION CONTACT: 

OFAC: Assistant Director for Licensing, 

202–622–2480; Assistant Director for 

Regulatory Affairs, 202–622–4855; or 

Assistant Director for Compliance, 202– 

622–2490 or https://ofac.treasury.gov/ 

contact-ofac. 

SUPPLEMENTARY INFORMATION: 

Title: Reporting, Procedures and 

Penalties Regulations. 

OMB Number: 1505–0164. 

Type of Review: Extension of a 

currently approved collection; 

consolidation with other approved 

collections. 

Description: The collections of 

information are contained in sections 

501.601 through 501.605, 501.801, and 

501.804 through 501.807 of OFAC’s 

Reporting, Procedures and Penalties 

Regulations (the ‘‘Regulations’’), and 

certain other parts of 31 CFR chapter V, 

and pertain to the operation of various 

economic sanctions programs 

administered by OFAC under 31 CFR 

chapter V. Section 501.601 addresses 

the maintenance of records, and 

§ 501.602 relates to OFAC demands for 

information relative to any transaction 

or property subject to the provisions of 

31 CFR chapter V. Section 501.603 

imposes reporting requirements 

pertaining to blocked property and 

retained funds, as well as property that 

is unblocked or transferred. This 

information is required by OFAC to 

monitor compliance with regulatory 

requirements, to support diplomatic 

negotiations concerning the targets of 

sanctions, to support settlement 

negotiations addressing U.S. claims, and 

to respond to Congressional reporting 

requirements. Section 501.604 requires 

the filing of reports for compliance 

purposes by U.S. persons where a 

transaction is not required to be blocked 

but where processing or otherwise 

engaging in the transaction would 

nonetheless violate, or facilitate a 

transaction that is prohibited under, 

other provisions in 31 CFR chapter V. 

Section 501.605 requires reporting of 

information pertaining to litigation, 

arbitration, and other binding 

alternative dispute resolution 

proceedings in the United States to 

prevent the intentional or inadvertent 

transfer through such proceedings of 

blocked property or retained funds. 

Sections 501.801, 501.804, and 501.805 

relate to license requests, the procedures 

for rulemaking, and records requests, 

respectively. Section 501.806 sets forth 

the procedures to be followed by a 

person seeking to unblock funds that the 

person believes they have blocked due 

to mistaken identity or typographical or 

similar errors. Section 501.807 sets forth 

the procedures to be followed by a 

person seeking administrative 

reconsideration of the listing of a person 

or property (e.g., a vessel) on any list of 

sanctioned persons or property 

maintained by OFAC. OFAC maintains 

mandatory and voluntary forms for the 

bulk of these collections and is not 

making major changes to these existing 

forms. 

In addition, OFAC seeks to 

consolidate within this information 

collection five separately approved 

information collections: OMB Numbers 

1505–0167, 1505–0168, 1505–0243, 

1505–0255, and 1505–0170. These 

information collections are relevant to 

31 CFR 501.801, 515,572, 561.504, and 

566.504. OFAC is also extending from 

five years to 10 years the recordkeeping 

requirements codified at 31 CFR 

501.601, paragraph IV.B of appendix A 

to part 501, and 515.572 to align with 

the extended statute of limitations for 

civil and criminal violations of the 

International Emergency Economic 

Powers Act (IEEPA) or the Trading with 

the Enemy Act (TWEA). 

The reports covered by this 

information collection will be reviewed 

by the U.S. Department of the Treasury 

and may be used for compliance, civil 

penalty, and enforcement purposes by 

the agency. 

Forms: For filers who have been 

granted an exception from electronic 

reporting using the OFAC Reporting 

System (ORS), OFAC allows the 

submission of the following, through the 

following approved forms: the Annual 

Report of Blocked Property (ARBP), TD– 

F 90–22.50; Report on Blocked 

Property—Financial, TD–F 93.02; 

Report on Blocked Property—Tangible/ 

Real/Other Non-Financial Property, TD– 

F 93.08; Report on Rejected Transaction, 

TD–F 93.07. OFAC also maintains the 

following forms related to licensing: 

TSRA License Application, TD–F 93.04; 

Licensing Cover Sheet, TD–F 98–22.61; 

and Application for the Release of 

Blocked Funds TD–F 90–22.54. In 

addition, OFAC issued a new form, 

REPO for Ukrainians Act Report Form, 

TD–F 93.09, to implement a new 

reporting requirement pursuant to the 

Rebuilding Economic Prosperity and 

Opportunity for Ukrainians Act for 

financial institutions holding Russian 

sovereign assets, if not previously 

reported to OFAC. The other 

information collections covered by this 

notice do not have mandatory or 

voluntary forms. 

Affected Public: Financial 

institutions, business organizations, 

nonprofit organizations, individuals, 

households, nongovernmental 

organizations, and legal representatives. 

Estimated Number of Respondents: 

OFAC’s estimate for the number of 

unique reporting respondents is 

approximately 10,900. The significant 

increase in the number of unique 


ddrumheller on DSK120RN23PROD with NOTICES1
74376 Federal Register / Vol. 89, No. 177 / Thursday, September 12, 2024 / Notices 

respondents since OFAC’s last 

information collection submission 

regarding the Regulations in 2021 is due 

to OFAC consolidating several 

information collection requests and, in 

response to unpredictable foreign policy 

developments and considerations, and 

given the ongoing conflict in Ukraine, 

has added a number of new 

prohibitions, as well as several 

thousand new designations, particularly 

with respect to Ukraine and Russian, 

resulting in a corresponding increase in 

related reports. In addition, a May 2024 

amendment to the Cuban Assets Control 

Regulations in 31 CFR 515.584(d) 

reinstated an authorization for ‘‘U-turn’’ 

transactions to support independent 

private sector entrepreneurs in Cuba, by 

facilitating remittances and payments 

for authorized transactions in the Cuban 

private sector, which is expected to lead 

to an increase in remittances to Cuba 

over the coming three years. 

Frequency of Response: The estimated 

annual frequency of responses is 

between 1 and 17,800, varying greatly 

by entity depending on the size, nature, 

and scope of business activities of each 

respondent, with the majority of filers 

providing a small number of responses 

and a small number of filers submitting 

a higher number of responses. 

Estimated Total Number of Annual 

Responses: The estimated total number 

of responses per year is approximately 

2,502,086. 

Estimated Time per Response: OFAC 

assesses that there is an average time 

estimate for reports associated with 

forms ranging from 15 minutes to 2 

hours and for reports associated with 

general licenses, Cuba remittances, Cuba 

travel, closure of correspondent or 

payable-through accounts, and other 

miscellaneous reports ranging from 1 

minute to 5 hours. 

Estimated Total Annual Burden 

Hours: The estimated total annual 

reporting burden is approximately 

86,223 hours. 

Request for Comments 

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 has 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 

required to provide information. 

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

Dated: September 9, 2024. 

Lisa M. Palluconi, 

Acting Director, Office of Foreign Assets 

Control. 

[FR Doc. 2024–20675 Filed 9–11–24; 8:45 am] 

BILLING CODE 4810–AL–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Agency Collection Activities; 

Requesting Comments on Form 8801 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice and request for 

comments. 

SUMMARY: The Internal Revenue Service, 

as part of its continuing effort to reduce 

paperwork and respondent burden, 

invites the general public and other 

federal agencies to take this opportunity 

to comment on proposed and/or 

continuing information collections, as 

required by the Paperwork Reduction 

Act of 1995. The IRS is soliciting 

comments concerning Form 8801, 

Credit for Prior Year Minimum Tax— 

Individuals, Estates, and Trusts. 

DATES: Written comments should be 

received on or before November 12, 

2024 to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Andres Garcia, Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224, or 

by email to pra.comments@irs.gov. 

Include OMB Control No. 1545–1073 in 

the subject line of the message. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of this collection should be 

directed to Jason Schoonmaker, (801) 

620–2128, at Internal Revenue Service, 

Room 6526, 1111 Constitution Avenue 

NW, Washington, DC 20224, or through 

the internet at jason.m.schoonmaker@

irs.gov. 

SUPPLEMENTARY INFORMATION: The IRS is 

currently seeking comments concerning 

the following information collection 

tools, reporting, and record-keeping 

requirements: 

Title: Credit for Prior Year Minimum 

Tax—Individuals, Estates, and Trusts. 

OMB Number: 1545–1073. 

Form Number: Form 8801. 

Abstract: Form 8801 is used by 

individuals, estates, and trusts to 

compute the minimum tax credit, if any, 

available from a tax year beginning after 

1986 to be used in the current year or 

to be carried forward for use in a future 

year. These burden estimates are only 

for trust and estate filers (nonindividual taxpayers). The burden 

estimates for other filers are covered 

under OMB control numbers 1545–0074 

for individual filers. 

Current Actions: There are no changes 

to the burden previously approved by 

OMB. This submission is for renewal 

purposes. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Individuals and 

households. 

Estimated Number of Responses: 

20,100. 

Estimated Time per Respondent: 7 

hours, 4 minutes. 

Estimated Total Annual Burden 

Hours: 142,164. 

The following paragraph applies to all 

of the collections of information covered 

by this notice: 

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. 

Books or records relating to a collection 

of information must be retained as long 

as their contents may become material 

in the administration of any internal 

revenue law. Generally, tax returns and 

tax return information are confidential, 

as required by 26 U.S.C. 6103. 

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. 


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