18476 Federal Register / Vol. 87, No. 61 / Wednesday, March 30, 2022 / Notices 

business in, the United States, to . . . 

keep records and file reports, when the 

resident, citizen, or person makes a 

transaction or maintains a relation for 

any person with a foreign financial 

agency.’’ The term ‘‘foreign financial 

agency’’ (FFA) means any person 

engaging in any activities outside the 

United States of a ‘‘financial agency,’’ 

which the statute defines as ‘‘a person 

acting for a person . . . as a financial 

institution, bailee, depository trustee, or 

agent, or acting in a similar way related 

to money, credit, securities, gold, or a 

transaction in money, credit, securities 

or gold, or a service provided with 

respect to money, securities, futures, 

precious metals, stones and jewels, or 

value that substitutes for currency.’’ The 

Secretary is also authorized to prescribe 

exemptions to the reporting requirement 

and to prescribe other matters the 

Secretary considers necessary to carry 

out 31 U.S.C. 5314. The regulations 

implementing reports of transactions 

with foreign financial agencies are 

found at 31 CFR 1010.360. 

31 CFR 1010.360(a) authorizes the 

Secretary, when the Secretary deems 

appropriate, to promulgate regulations 

requiring specified financial institutions 

to file reports of certain transactions 

with designated FFAs. 

A regulation promulgated pursuant to 

31 CFR 1010.360(a) must designate one 

or more of the following categories of 

information to be reported by the 

specified financial institution: 

• Checks or drafts, including 

traveler’s checks, received by a 

respondent financial institution for 

collection or credit to the account of a 

designated FFA, sent by the respondent 

financial institution to a foreign country 

for collection or payment, drawn by the 

respondent financial institution on a 

designated FFA, or drawn by a 

designated FFA on the respondent 

financial institution, including the 

following information: Name of maker 

or drawer; name of drawee or drawee 

financial institution; name of payee; 

date and amount of instrument; and 

names of all endorsers. 

• Transmittal orders received by a 

respondent financial institution from a 

designated FFA or sent by the 

respondent financial institution to a 

designated FFA, including all 

information maintained by that 

institution pursuant to 31 CFR 1010.410 

and 1020.410. 

• Loans made by a respondent 

financial institution to or through a 

designated FFA, including the following 

information: Name of borrower; name of 

person acting for borrower; date and 

amount of loan; terms of repayment; 

name of guarantor; rate of interest; 

method of distributing proceeds; and 

collateral for loan. 

• Commercial paper received or 

shipped by a respondent financial 

institution, including the following 

information: Name of maker; date and 

amount of paper; due date; certificate 

number; and amount of transaction. 

• Stocks received or shipped by a 

respondent financial institution, 

including the following information: 

Name of corporation; type of stock; 

certificate number; number of shares; 

date of certificate; name of registered 

holder; and amount of transaction. 

• Bonds received or shipped by a 

respondent financial institution, 

including the following information: 

Name of issuer; bond number; type of 

bond series; date issued; due date; rate 

of interest; amount of transaction; and 

name of registered holder. 

• Certificates of deposit received or 

shipped by a respondent financial 

institution, including the following 

information: Name and address of 

issuer; date issued; dollar amount; name 

of registered holder; due date; rate of 

interest; certificate number; and name 

and address of issuing agent. 

In issuing regulations as provided in 

31 CFR 1010.360(a), the Secretary must 

prescribe: A reasonable classification of 

financial institutions subject to or 

exempt from a reporting requirement; a 

foreign country to which a reporting 

requirement applies if the Secretary 

decides that applying the requirement to 

all foreign countries is unnecessary or 

undesirable; the magnitude of 

transactions subject to a reporting 

requirement; and the kind of transaction 

subject to or exempt from a reporting 

requirement. 

Regulations issued pursuant to 31 

CFR 1010.360(a) may prescribe the 

manner in which the information is to 

be reported. However, the Secretary may 

authorize a designated financial 

institution to report in a different 

manner if the institution demonstrates 

to the Secretary that the form of the 

required report is unnecessarily 

burdensome on the institution as 

prescribed; that a report in a different 

form will provide all the information 

the Secretary deems necessary; and that 

submission of the information in a 

different manner will not unduly hinder 

the effective administration of 31 CFR 

Chapter X. 

In issuing regulations under 31 CFR 

1010.360(e), the Secretary: (i) Must 

consider the need to avoid impeding or 

controlling the export or import of 

monetary instruments and the need to 

avoid burdening unreasonably a person 

making a transaction with a designated 

FFA; (ii) cannot issue a regulation under 

31 CFR 1010.360(a) for the purpose of 

obtaining individually identifiable 

account information concerning a 

customer, as defined by the Right to 

Financial Privacy Act, where that 

customer is already the subject of an 

ongoing investigation for possible 

violation of the BSA, or is known by the 

Secretary to be the subject of an 

investigation for possible violation of 

any other Federal law; and (iii) may 

issue a regulation pursuant to 31 CFR 

1010.360(a) requiring a financial 

institution to report transactions 

completed prior to the date it received 

notice of the reporting requirement. 

However, with respect to completed 

transactions, a financial institution may 

be required to provide information only 

from records required to be maintained 

pursuant to the requirements of 31 CFR 

Chapter X, or any other provision of 

state or Federal law, or otherwise 

maintained in the regular course of 

business. 

31 CFR 1010.430(d) requires that all 

records that are required to be retained 

by Chapter X must be retained for a 

period of five years. 

FinCEN is issuing this notice to renew 

the OMB control number for regulations 

requiring reports of transactions with 

designated FFAs. 

Form: None. 

Affected Public: Businesses or other 

for-profit institutions; non-profit 

institutions. 

Estimated Number of Respondents: 9. 

Frequency of Response: On occasion. 

Estimated Total Number of Annual 

Responses: 84. 

Estimated Total Annual Burden 

Hours: 11,897 hours. 

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

Molly Stasko, 

Treasury PRA Clearance Officer. 

[FR Doc. 2022–06643 Filed 3–29–22; 8:45 am] 

BILLING CODE 4810–02–P 

DEPARTMENT OF THE TREASURY 

Agency Information Collection 

Activities; Emergency Submission for 

OMB Review; Comment Request; 

Homeowner Assistance Fund 

Compliance Reporting 

AGENCY: Departmental Offices, 

Department of the Treasury. 

ACTION: Notice. 

SUMMARY: The Department of the 

Treasury has submitted the following 

information collection request to the 

Office of Management and Budget 

(OMB) for review and clearance 

utilizing emergency review procedures 

in accordance with the Paperwork 


khammond on DSKJM1Z7X2PROD with NOTICES
Federal Register / Vol. 87, No. 61 / Wednesday, March 30, 2022 / Notices 18477 

Reduction Act of 1995. Emergency 

review and approval of this collection 

has been requested from OMB by April 

12, 2022. The public is invited to submit 

comments on this request. 

DATES: Written comments must be 

received on or before April 14, 2022. 

ADDRESSES: Send comments regarding 

the burden estimate, or any other aspect 

of the information collection, including 

suggestions for reducing the burden, by 

the following method: 

• Federal E-rulemaking Portal: http:// 

www.regulations.gov. Follow the 

instructions for submitting comments. 

Refer to Docket Number TREAS–DO– 

2022–0008 and the specific Office of 

Management and Budget (OMB) control 

number 1505–0269. 

FOR FURTHER INFORMATION CONTACT: 

Copies of the submissions may be 

obtained from Christopher Sun by 

emailing HAF@treasury.gov, calling 

877–398–5861, or viewing the entire 

information collection request at 

www.reginfo.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Homeowner Assistance Fund. 

OMB Control Number: 1505–0269. 

Type of Review: Revision of a 

currently approved collection. 

Description: On March 11, 2021, the 

President signed the American Rescue 

Plan Act of 2021 (the ‘‘Act’’), Public 

Law 117–2. Title III, subtitle B, section 

3206 of the Act established the 

Homeowner Assistance Fund and 

provides $9.961 billion for the U.S. 

Department of the Treasury (Treasury) 

to make payments to States (defined to 

include the District of Columbia, Puerto 

Rico, U.S. Virgin Islands, Guam, 

Northern Mariana Islands, and 

American Samoa), Indian tribes or 

Tribally Designated Housing Entities, as 

applicable, and the Department of 

Hawaiian Home Lands (collectively the 

‘‘eligible entities’’) to mitigate financial 

hardships associated with the 

coronavirus pandemic, including for the 

purposes of preventing homeowner 

mortgage delinquencies, defaults, 

foreclosures, loss of utilities or home 

energy services, and displacements of 

homeowners experiencing financial 

hardship after January 21, 2020, through 

qualified expenses related to mortgages 

and housing. 

Treasury will collect a Quarterly 

Report at the end of each calendar year 

quarter for eligible entities that are a 

State or Tribal Government with a HAF 

allocation greater than $5 million. The 

Department of Hawaiian Home Lands 

and Tribal Governments with a HAF 

allocation less than $5 million will be 

required to submit a similar report once 

a year. 

HAF participants will submit 

quarterly certifications and reports, 

including, among other things, details 

on program budget; HAF Homeowner 

applications approved; targeting metrics 

around Homeowners assisted; 

individual program information; and 

individual program design element 

information. 

Additionally, Treasury will collect 

from each eligible participant an Annual 

Report once a year that will provide 

Treasury with high-level information on 

how the HAF participant is performing 

relative to their forecasted goals noted 

in their HAF Grantee Plan. 

Treasury is requesting emergency 

processing to add compliance reporting 

(i.e., Quarterly Report and Annual 

Report) this collection of information as 

provided under 5 CFR 1320.13. 

Treasury cannot reasonably comply 

with normal clearance procedures 

because Treasury will need to provide 

the Guidance on Participant Compliance 

and Reporting Responsibilities to HAF 

participants along with the Portal 

launch date and provide a high degree 

of certainty that it will not change, so 

that recipients can gather the necessary 

information and build their own tools/ 

processes to comply. Additionally, 

delays due to insufficient guidance will 

more than likely impact established 

timelines for HAF participants to report 

on current quarter compliance and 

delay future quarter compliance. Delays 

in quarterly reporting will reduce 

Treasury’s insight on current HAF 

participant compliance issues. 

Form: Quarterly Compliance Reports. 

Affected Public: State and tribal 

governments with allocations over $5 

million dollars. 

Estimated Number of Respondents: 

67. 

Frequency of Response: Quarterly, for 

the duration of the program, final report 

January 2027. 

Estimated Total Number of Annual 

Responses: 268. 

Estimated Time per Response: 4 

hours. 

Estimated Total Annual Burden 

Hours: 1,072 hours. 

Form: Quarterly Compliance Reports. 

Affected Public: Department of 

Hawaiian Home Lands and tribal 

governments with allocations less than 

$5 million dollars. 

Estimated Number of Respondents: 

584. 

Frequency of Response: Annually. 

Estimated Total Number of Annual 

Responses: 584. 

Estimated Time per Response: 4 

hours. 

Estimated Total Annual Burden 

Hours: 2,336 hours. 

Form: Annual Reports. 

Affected Public: States, Department of 

Hawaiian Home Lands and tribal 

governments. 

Estimated Number of Respondents: 

651. 

Frequency of Response: Annual. 

Estimated Total Number of Annual 

Responses: 651. 

Estimated Time per Response: 2 

hours. 

Estimated Total Annual Burden 

Hours: 1,302 hours. 

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

Molly Stasko, 

Treasury PRA Clearance Officer. 

[FR Doc. 2022–06705 Filed 3–29–22; 8:45 am] 

BILLING CODE 4810–AK–P 

DEPARTMENT OF THE TREASURY 

Agency Information Collection 

Activities; Submission for OMB 

Review; Comment Request; Multiple 

Internal Revenue Service Information 

Collection Requests 

AGENCY: Departmental Offices, 

Department of the Treasury. 

ACTION: Notice. 

SUMMARY: The Department of the 

Treasury will submit the following 

information collection requests to the 

Office of Management and Budget 

(OMB) for review and clearance in 

accordance with the Paperwork 

Reduction Act of 1995, on or after the 

date of publication of this notice. The 

public is invited to submit comments on 

these requests. 

DATES: Comments must be received on 

or before April 29, 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. 

FOR FURTHER INFORMATION CONTACT: 

Copies of the submissions may be 

obtained from Molly Stasko by emailing 

PRA@treasury.gov, calling (202) 622– 

8922, or viewing the entire information 

collection request at www.reginfo.gov. 

SUPPLEMENTARY INFORMATION: 

Internal Revenue Service (IRS) 

1. Title: Notice Concerning Fiduciary 

Relationship and Notice Concerning 

Fiduciary Relationship of Financial 

Institution. 

OMB Control Number: 1545–0013. 


khammond on DSKJM1Z7X2PROD with NOTICES