Federal Register / Vol. 86, No. 127 / Wednesday, July 7, 2021 / Notices 35867 

(2) Federal Aid Highway Act of 1970; 

(3) U.S. EPA Section 404(b)(1) 

Guidelines (40 Code of Federal 

Regulations [CFR] 230); 

(4) Clean Air Act Amendments of 

1990 (CAAA); 

(5) Clean Water Act of 1977 and 1987; 

(6) Federal Water Pollution Control 

Act of 1972 (see Clean Water Act of 

1977 & 1987); 

(7) Safe Drinking Water Act of 1944, 

as amended; 

(8) Endangered Species Act of 1973; 

(9) Executive Order 13112, Invasive 

Species; 

(10) Migratory Bird Treaty Act; 

(11) Fish and Wildlife Coordination 

Act of 1934, as amended; 

(12) Coastal Zone Management Act of 

1972; 

(13) Title VI of the Civil Rights Act of 

1964, as amended 

(Catalog of Federal Domestic Assistance 

Program Number 20.205, Highway Planning 

and Construction. The regulations 

implementing Executive Order 12372 

regarding intergovernmental consultation on 

Federal Programs and activities apply to this 

program.) 

Authority: 23 U.S.C. 139(l)(1). 

Issued on: June 30, 2021. 

Rodney Whitfield, 

Director, Financial Services, Federal Highway 

Administration, California Division. 

[FR Doc. 2021–14423 Filed 7–6–21; 8:45 am] 

BILLING CODE 4910–RY–P 

DEPARTMENT OF THE TREASURY 

Office of Foreign Assets Control 

Publication of Russian Harmful 

Foreign Activities Directive 1 

AGENCY: Office of Foreign Assets 

Control, Treasury. 

ACTION: Publication of directive. 

SUMMARY: The Department of the 

Treasury’s Office of Foreign Assets 

Control (OFAC) is publishing a Russian 

Harmful Foreign Activities Sanctions 

Directive in the Federal Register. The 

Directive was previously issued on 

OFAC’s website. 

DATES: Directive 1 was issued on April 

15, 2021 and the prohibitions therein 

take effect on June 14, 2021. 

FOR FURTHER INFORMATION CONTACT: 

OFAC: Assistant Director for Licensing, 

202–622–2480; Assistant Director for 

Regulatory Affairs, 202–622–4855; or 

Assistant Director for Sanctions 

Compliance & Evaluation, 202–622– 

2490. 

SUPPLEMENTARY INFORMATION: 

Electronic Availability 

This document and additional 

information concerning OFAC are 

available on OFAC’s website 

www.treasury.gov/ofac. 

Background 

On April 15, 2021, the President, 

invoking the authority of, inter alia, the 

International Emergency Economic 

Powers Act (50 U.S.C. 1701–1706) 

(IEEPA), issued Executive Order (E.O.) 

14024 (86 FR 20249, April 19, 2021). 

In E.O. 14024, the President found 

that specified harmful foreign activities 

of the Government of the Russian 

Federation—in particular, efforts to 

undermine the conduct of free and fair 

democratic elections and democratic 

institutions in the United States and its 

allies and partners; to engage in and 

facilitate malicious cyber-enabled 

activities against the United States and 

its allies and partners; to foster and use 

transnational corruption to influence 

foreign governments; to pursue 

extraterritorial activities targeting 

dissidents or journalists; to undermine 

security in countries and regions 

important to United States national 

security; and to violate well-established 

principles of international law, 

including respect for the territorial 

integrity of states—constitute an 

unusual and extraordinary threat to the 

national security, foreign policy, and 

economy of the United States and 

declared a national emergency to deal 

with that threat. 

Also on April 15, 2021, the Acting 

Director of OFAC issued Directive 1 

under E.O. 14024, wherein the Acting 

Director of OFAC, in consultation with 

the Department of State, determined 

that the Central Bank of the Russian 

Federation, the National Wealth Fund of 

the Russian Federation, and the 

Ministry of Finance of the Russian 

Federation are political subdivisions, 

agencies, or instrumentalities of the 

Government of the Russian Federation, 

and that certain activities by U.S. 

financial institutions that are specified 

in Directive 1 involving such entities are 

prohibited as of June 14, 2021. The text 

of Directive 1 under E.O. 14024 is 

provided below. 

Office of Foreign Assets Control 

Directive 1 Under Executive Order of 

April 15, 2021 

Blocking Property With Respect to 

Specified Harmful Foreign Activities of 

the Government of the Russian 

Federation 

Pursuant to sections 1(a)(iv), 1(d), and 

8 of Executive Order of April 15, 2021, 

‘‘Blocking Property with Respect to 

Specified Harmful Foreign Activities of 

the Government of the Russian 

Federation’’ (the ‘‘Order’’), the Acting 

Director of the Office of Foreign Assets 

Control has determined, in consultation 

with the Department of State, that the 

Central Bank of the Russian Federation, 

the National Wealth Fund of the 

Russian Federation, and the Ministry of 

Finance of the Russian Federation are 

political subdivisions, agencies, or 

instrumentalities of the Government of 

the Russian Federation, and that the 

following activities by a U.S. financial 

institution are prohibited as of June 14, 

2021, except to the extent provided by 

law or unless licensed or otherwise 

authorized by the Office of Foreign 

Assets Control: 

(1) Participation in the primary 

market for ruble or non-ruble 

denominated bonds issued after June 14, 

2021 by the Central Bank of the Russian 

Federation, the National Wealth Fund of 

the Russian Federation, or the Ministry 

of Finance of the Russian Federation; 

and 

(2) lending ruble or non-ruble 

denominated funds to the Central Bank 

of the Russian Federation, the National 

Wealth Fund of the Russian Federation, 

or the Ministry of Finance of the 

Russian Federation. 

For purposes of this Directive, the 

term ‘‘U.S. financial institution’’ means 

any U.S. entity (including its foreign 

branches) that is engaged in the 

business of accepting deposits, making, 

granting, transferring, holding, or 

brokering loans or other extensions of 

credit, or purchasing or selling foreign 

exchange, securities, commodity futures 

or options, or procuring purchasers and 

sellers thereof, as principal or agent. 

The term includes depository 

institutions, banks, savings banks, trust 

companies, securities brokers and 

dealers, futures and options brokers and 

dealers, forward contract and foreign 

exchange merchants, securities and 

commodities exchanges, clearing 

corporations, investment companies, 

employee benefit plans, and U.S. 

holding companies, U.S. affiliates, or 

U.S. subsidiaries of any of the foregoing. 

This term includes those branches, 

offices, and agencies of foreign financial 

institutions that are located in the 

United States, but not such institutions’ 

foreign branches, offices, or agencies. 

All other activities with the Central 

Bank of the Russian Federation, the 

National Wealth Fund of the Russian 

Federation, or the Ministry of Finance of 

the Russian Federation, or involving 

their property or interests in property 

are permitted, provided such activities 

are not otherwise prohibited pursuant to 


khammond on DSKJM1Z7X2PROD with NOTICES
35868 Federal Register / Vol. 86, No. 127 / Wednesday, July 7, 2021 / Notices 

the Order, or any other sanctions 

program implemented by the Office of 

Foreign Assets Control. 

Except to the extent otherwise 

provided by law or unless licensed or 

otherwise authorized by the Office of 

Foreign Assets Control, the following 

are also prohibited: (1) Any transaction 

that evades or avoids, has the purpose 

of evading or avoiding, causes a 

violation of, or attempts to violate any 

of the prohibitions contained in this 

Directive; and (2) any conspiracy 

formed to violate any of the prohibitions 

in this Directive. April 15, 2021. 

Dated: June 30, 2021. 

Bradley T. Smith, 

Acting Director, Office of Foreign Assets 

Control. 

[FR Doc. 2021–14339 Filed 7–6–21; 8:45 am] 

BILLING CODE 4810–AL–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request for Information Collection 

Tools Relating to the Offshore 

Voluntary Disclosure Program (OVDP) 

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 continuing 

information collections, as required by 

the Paperwork Reduction Act of 1995. 

The IRS is soliciting comments 

concerning the offshore voluntary 

disclosure program. 

DATES: Written comments should be 

received on or before September 7, 2021 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Kinna Brewington, Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the form should be directed to 

Kerry Dennis, at (202) 317–5751 or 

Internal Revenue Service, Room 6526, 

1111 Constitution Avenue NW, 

Washington, DC 20224, or through the 

internet, at Kerry.Dennis@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Offshore Voluntary Disclosure 

Program (OVDP). 

OMB Number: 1545–2241. 

Form Number(s): 14452, 14453, 

14454, 14457, 14467, 14653, 14654, and 

14708. 

Abstract: The IRS is offering people 

with undisclosed income from offshore 

accounts an opportunity to get current 

with their tax returns. Taxpayers with 

undisclosed foreign accounts or entities 

should make a voluntary disclosure 

because it enables them to become 

compliant, avoid substantial civil 

penalties and generally eliminate the 

risk of criminal prosecution. The 

objective is to bring taxpayers that have 

used undisclosed foreign accounts and 

undisclosed foreign entities to avoid or 

evade tax into compliance with United 

States tax laws. 

Current Actions: There is no change 

in the paperwork burden previously 

approved by OMB procedure. 

Type of Review: Extension of a 

currently approved collection. 

Affected Public: Individuals or 

Households. 

Estimated Number of Respondents: 

474,569. 

Estimated Time per Response: 1 hour, 

49 min. 

Estimated Total Annual Burden 

Hours: 863,638. 

The following paragraph applies to all 

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 if 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. 

Approved: June 30, 2021. 

Kerry L. Dennis, 

Tax Analyst. 

[FR Doc. 2021–14375 Filed 7–6–21; 8:45 am] 

BILLING CODE 4830–01–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Proposed Collection; Comment 

Request on Reduction of Tax 

Attributes Due to Discharge of 

Indebtedness 

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 continuing 

information collections, as required by 

the reduction of tax attributes due to 

discharge of indebtedness. 

DATES: Written comments should be 

received on or before September 7, 2021 

to be assured of consideration. 

ADDRESSES: Direct all written comments 

to Kinna Brewington, Internal Revenue 

Service, Room 6526, 1111 Constitution 

Avenue NW, Washington, DC 20224. 

FOR FURTHER INFORMATION CONTACT: 

Requests for additional information or 

copies of the form should be directed to 

Kerry Dennis, at (202) 317–5751 or 

Internal Revenue Service, Room 6526, 

1111 Constitution Avenue NW, 

Washington, DC 20224, or through the 

internet, at Kerry.Dennis@irs.gov. 

SUPPLEMENTARY INFORMATION: 

Title: Reduction of Tax Attributes Due 

to Discharge of Indebtedness. 

OMB Number: 1545–0046. 

Form Number(s): 982. 

Abstract: Reduction of Tax Attributes 

Due to Discharge of Indebtedness. 

Internal Revenue Code (IRC) section 108 

allows taxpayers to exclude from gross 

income amounts attributable to 

discharge of indebtedness in title 11 

cases, insolvency or a qualified farm 

indebtedness. Section 1081(b) allows 

corporations to exclude from gross 

income amounts attributable to certain 

transfers of property. The data is used 

to verify adjustments to basis of 

property and reduction of tax attributes. 

Current Actions: There is no change 

in the form or paperwork burden 

previously approved by OMB. 


khammond on DSKJM1Z7X2PROD with NOTICES