Federal Register / Vol. 87, No. 36 / Wednesday, February 23, 2022 / Notices 10253 

Transaction Class Exemption (PTE) 91– 

38 provides an exemption from the 

restrictions of sections 406(a), 406(b)(2), 

and 407(a) of ERISA for certain 

transactions between a bank collective 

investment fund in which an employee 

benefit plan has invested assets and 

persons who are parties in interest to 

the employee benefit plan, as long as the 

plan’s total participation in the 

collective investment fund does not 

exceed 10 percent of the total assets in 

the collective investment fund. For 

additional substantive information 

about this ICR, see the related notice 

published in the Federal Register on 

November 9, 2021 (86 FR 62208). 

This information collection is subject 

to the PRA. A Federal agency generally 

cannot conduct or sponsor a collection 

of information, and the public is 

generally not required to respond to an 

information collection, unless the OMB 

approves it and displays a currently 

valid OMB Control Number. In addition, 

notwithstanding any other provisions of 

law, no person shall generally be subject 

to penalty for failing to comply with a 

collection of information that does not 

display a valid OMB Control Number. 

See 5 CFR 1320.5(a) and 1320.6. 

DOL seeks PRA authorization for this 

information collection for three (3) 

years. OMB authorization for an ICR 

cannot be for more than three (3) years 

without renewal. The DOL notes that 

information collection requirements 

submitted to the OMB for existing ICRs 

receive a month-to-month extension 

while they undergo review. 

Agency: DOL–EBSA. 

Title of Collection: Bank Collective 

Investment Funds; Prohibited 

Transaction Class Exemption 1991–38. 

OMB Control Number: 1210–0082. 

Affected Public: Private Sector— 

Businesses or other for-profits and notfor-profit institutions. 

Total Estimated Number of 

Respondents: 9,332. 

Total Estimated Number of 

Responses: 9,332. 

Total Estimated Annual Time Burden: 

1,555 hours. 

Total Estimated Annual Other Costs 

Burden: $0. 

(Authority: 44 U.S.C. 3507(a)(1)(D)) 

Dated: February 15, 2022. 

Mara Blumenthal, 

Senior PRA Analyst. 

[FR Doc. 2022–03757 Filed 2–22–22; 8:45 am] 

BILLING CODE 4510–29–P 

DEPARTMENT OF LABOR 

Agency Information Collection 

Activities; Submission for OMB 

Review; Comment Request; Collective 

Investment Funds Conversion 

Transactions; Prohibited Transaction 

Class Exemption 1997–41 

ACTION: Notice of availability; request 

for comments. 

SUMMARY: The Department of Labor 

(DOL) is submitting this Employee 

Benefits Security Administration 

(EBSA)-sponsored information 

collection request (ICR) to the Office of 

Management and Budget (OMB) for 

review and approval in accordance with 

the Paperwork Reduction Act of 1995 

(PRA). Public comments on the ICR are 

invited. 

DATES: The OMB will consider all 

written comments that the agency 

receives on or before March 25, 2022. 

ADDRESSES: Written comments and 

recommendations for the proposed 

information collection should be sent 

within 30 days of publication of this 

notice to www.reginfo.gov/public/do/ 

PRAMain. Find this particular 

information collection by selecting 

‘‘Currently under 30-day Review—Open 

for Public Comments’’ or by using the 

search function. 

Comments are invited on: (1) Whether 

the collection of information is 

necessary for the proper performance of 

the functions of the Department, 

including whether the information will 

have practical utility; (2) if the 

information will be processed and used 

in a timely manner; (3) the accuracy of 

the agency’s estimates of the burden and 

cost of the collection of information, 

including the validity of the 

methodology and assumptions used; (4) 

ways to enhance the quality, utility and 

clarity of the information collection; and 

(5) ways to minimize the burden of the 

collection of information on those who 

are to respond, including the use of 

automated collection techniques or 

other forms of information technology. 

FOR FURTHER INFORMATION CONTACT: 

Mara Blumenthal by telephone at 202– 

693–8538, or by email at DOL_PRA_

PUBLIC@dol.gov. 

SUPPLEMENTARY INFORMATION: Section 

408(a) of the Employee Retirement 

Income Security Act of 1974 (ERISA) 

gives the Secretary of Labor the 

authority to ‘‘grant a conditional or 

unconditional exemption of any 

fiduciary or transaction, or class of 

fiduciaries or transactions, from all or 

part of the restrictions imposed by 

sections 406 and 407(a).’’ Prohibited 

Transaction Class Exemption 97–41 

permits an employee benefit plan to 

purchase shares of a registered open-end 

investment company (mutual fund) in 

exchange for plan assets transferred 

from a collective investment fund (CIF) 

maintained by a bank or plan adviser, 

even though the bank or plan adviser is 

the investment adviser for the mutual 

fund and also serves as a fiduciary for 

the plan, provided that the purchase 

and transfer is in connection with a 

complete withdrawal of the plan’s 

investment in the CIF and certain other 

conditions are met. For additional 

substantive information about this ICR, 

see the related notice published in the 

Federal Register on November 9, 2021 

(86 FR 62208). 

This information collection is subject 

to the PRA. A Federal agency generally 

cannot conduct or sponsor a collection 

of information, and the public is 

generally not required to respond to an 

information collection, unless the OMB 

approves it and displays a currently 

valid OMB Control Number. In addition, 

notwithstanding any other provisions of 

law, no person shall generally be subject 

to penalty for failing to comply with a 

collection of information that does not 

display a valid OMB Control Number. 

See 5 CFR 1320.5(a) and 1320.6. 

DOL seeks PRA authorization for this 

information collection for three (3) 

years. OMB authorization for an ICR 

cannot be for more than three (3) years 

without renewal. The DOL notes that 

information collection requirements 

submitted to the OMB for existing ICRs 

receive a month-to-month extension 

while they undergo review. 

Agency: DOL–EBSA. 

Title of Collection: Collective 

Investment Funds Conversion 

Transactions; Prohibited Transaction 

Class Exemption 1997–41. 

OMB Control Number: 1210–0104. 

Affected Public: Private Sector— 

Businesses or other for-profits and notfor-profit institutions. 

Total Estimated Number of 

Respondents: 50. 

Total Estimated Number of 

Responses: 105. 

Total Estimated Annual Time Burden: 

1,760 hours. 

Total Estimated Annual Other Costs 

Burden: $585,299. 

(Authority: 44 U.S.C. 3507(a)(1)(D)) 

Dated: February 15, 2022. 

Mara Blumenthal, 

Senior PRA Analyst. 

[FR Doc. 2022–03753 Filed 2–22–22; 8:45 am] 

BILLING CODE 4510–29–P 


khammond on DSKJM1Z7X2PROD with NOTICES