29378 Federal Register / Vol. 66, No. 104 / Wednesday, May 30, 2001 / Notices

934 (1954 Code) to prevent the

Government of the Virgin Islands from

granting tax rebates with regard to taxes

attributable to income derived from

sources with the United States was

contingent upon the taxpayers’

compliance with the reporting

requirements of section 934(d).

Respondents: Individuals or

households, Business or other for-profit.

Estimated Number of Respondents/

Recordkeepers: 500.

Estimated Burden Hours Per

Respondent/Recordkeeper: 22 minutes.

Frequency of Response: On occasion.

Estimated Total Reporting/

Recordkeeping Burden: 184 hours.

OMB Number: 1545–1138.

Regulation Project Number: INTL–

955–86 Final (TD 8350).

Type of Review: Extension.

Title: Requirements for Investments to

Qualify Under Section 936(d)(4) As

Investments in Qualified Caribbean

Basin Countries.

Description: The collection of

information is required by the Internal

Revenue Service to verify that an

investment qualifies under Internal

Revenue Code (IRC) section 936(d)(4).

The recordkeepers will be possession

corporations, certain financial

institutions located in Puerto Rico, and

borrowers of funds covered by this

regulation.

Respondents: Business or other forprofit.

Estimated Number of Recordkeepers:

50.

Estimated Burden Hours Per

Recordkeeper: 30 hours.

Estimated Total Recordkeeping

Burden: 1,500 hours.

OMB Number: 1545–1443.

Regulation Project Number: PS–25–94

Final (TD 8686).

Type of Review: Extension.

Title: Requirements to Ensure

Collection of Section 2050A Estate Tax.

Description: The regulation provides

guidance relating to the additional

requirements necessary to ensure the

collection of the estate of tax imposed

under Section 2056A(b) with respect to

taxable events involving qualified

domestic trusts (QDOT’S). In order to

ensure collection of the tax, the

regulation provides various security

options that may be selected by the trust

and the requirements associate with

each option. In addition, under certain

circumstances the trust is required to

file an annual statement with the IRS

disclosing assets held by the trust.

Respondents: Individuals or

households.

Estimated Number of Respondents:

4,390.

Estimated Burden Hours Per

Respondent: 1 hour, 23 minutes.

Frequency of Response: On occasion,

Annually.

Estimated Total Reporting Burden:

6,070 hours.

Clearance Officer: Garrick Shear,

Internal Revenue Service, Room 5244,

1111 Constitution Avenue, NW.,

Washington, DC 20224

OMB Reviewer: Alexander T. Hunt (202)

395–7860,Office of Management and

Budget, Room 10202, New Executive

Office Building, Washington, DC

20503

Lois K. Holland,

Departmental Reports Management Officer.

[FR Doc. 01–13470 Filed 5–29–01; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Submission for OMB Review;

Comment Request

May 22, 2001.

The Department of Treasury has

submitted the following public

information collection requirement(s) to

OMB for review and clearance under the

Paperwork Reduction Act of 1995,

Public Law 104–13. Copies of the

submission(s) may be obtained by

calling the Treasury Bureau Clearance

Officer listed. Comments regarding this

information collection should be

addressed to the OMB reviewer listed

and to the Treasury Department

Clearance Officer, Department of the

Treasury, Room 2110, 1425 New York

Avenue, NW., Washington, DC 20220.

DATES: Written comments should be

received on or before June 29, 2001 to

be assured of consideration.

Internal Revenue Service (IRS)

OMB Number: 1545–0685.

Form Number: IRS Form 1363.

Type of Review: Extension.

Title: Export Exemption Certificate.

Description: This form is used by

carriers of property by air to justify the

tax-free transport of property. It is used

by IRS as proof of tax exempt status of

each shipment.

Respondents: Business or other forprofit, Individuals or households.

Estimated Number of Respondents/

Recordkeepers: 100,000.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Recordkeeping—3 hr., 49 min.

Learning about the law or the form—18

min.

Preparing, copying, assembling, and

sending the form to the IRS—22 min.

Frequency of Response: On occasion.

Estimated Total Reporting/

Recordkeeping Burden: 450,000 hours.

OMB Number: 1545–0915.

Form Number: IRS Form 8332.

Type of Review: Extension.

Title: Release of Claim to Exemption

for Child of Divorced or Separated

Parents.

Description: This form is used by the

custodial parent to release claim to the

dependency exemption for a child of

divorced or separated parents. The data

is used to verify that the noncustodial

parent is entitled to claim the

exemption.

Respondents: Individuals or

households.

Estimated Number of Respondents/

Recordkeepers: 150,000.

Estimated Burden Hours Per

Respondents/Recordkeeper:

Recordkeeping—6 min.

Learning about the law or the form—5

min.

Preparing the form—7 min.

Copying, assembling, and sending the

form to the IRS—13 min.

Frequency of Response: Annually.

Estimated Total Reporting/

Recordkeeping Burden: 82,500 hours.

OMB Number: 1545–1013.

Form Number: IRS Form 8612.

Type of Review: Extension.

Title: Return of Excise Tax on

Undistributed Income of Real Estate

Investment Trusts.

Description: Form 8612 is used by real

estate investment trusts to compute and

pay the excise tax on undistributed

income imposed under section 4981.

IRS uses the information to verify that

the correct amount of tax has been

reported.

Respondents: Business or other forprofit.

Estimated Number of Respondents/

Recordkeepers: 20.

Estimated Burden Hours Per

Respondent/Recordkeeper:

Recordkeeping—6 hr., 13 min.

Learning about the law or the form—1

hr., 47 min.

Preparing and sending the form to the

IRS—1 hr., 58 min.

Frequency of Response: Annually.

Estimated Total Reporting/

Recordkeeping Burden: 196 hours.

Clearance Officer: Garrick Shear,

Internal Revenue Service, Room 5244,

1111 Constitution Avenue, NW,

Washington, DC 20224.

OMB Reviewer: Alexander T. Hunt,

(202) 395–7860, Office of Management

and Budget, Room 10202, New

Federal Register / Vol. 66, No. 104 / Wednesday, May 30, 2001 / Notices 29379

Executive Office Building, Washington,

DC 20503.

Lois K. Holland,

Departmental Reports, Management Officer.

[FR Doc. 01–13471 Filed 5–29–01; 8:45 am]

BILLING CODE 4830–01–P

DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

Proposed Collection; Comment

Request for Reporting and Procedures

Regulations

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 take this

opportunity to comment on proposed

and/or continuing information

collections, as required by the

Paperwork Reduction Act of 1995,

Public Law 104–13 (44 U.S.C.

3506(c)(2)(A)). 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 and

Procedures Regulations set forth at 31

CFR Part 501.

DATES: Written comments should be

received on or before July 30, 2001 to be

assured of consideration.

ADDRESSES: Direct all written comments

to Dennis P. Wood, Chief, Compliance

Programs Division, or Barbara C.

Hammerle, Acting Chief Counsel, Office

of Foreign Assets Control, Department

of the Treasury, 1500 Pennsylvania

Avenue, NW., Annex—2d Floor,

Washington, DC 20220.

FOR FURTHER INFORMATION CONTACT:

Requests for additional information

about the filings or procedures should

be directed to Dennis P. Wood, Chief,

Compliance Programs Division, Office

of Foreign Assets Control, Department

of the Treasury, 1500 Pennsylvania

Avenue, N.W., 1500 Pennsylvania

Avenue, Annex — 2d Floor,

Washington, D.C. 20220.

SUPPLEMENTARY INFORMATION:

Title: Reporting and Procedures

Regulations.

OMB Number: 1505–0164.

Agency Form Number: TD–F–90–

22.50.

Abstract: The collections of

information are contained in §§ 501.601

through 501.605, 501.801 and 501.803

through 501.807 and pertain to the

operation of various economic sanctions

programs administered by OFAC under

31 CFR Chapter V. Section 501.601

relates to 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 assets and

retained funds transfers. This

information is required by OFAC to

monitor compliance with regulatory

requirements, to support diplomatic

negotiations concerning the targets of

sanctions, and to support settlement

negotiations addressing U.S. claims.

Section 501.604 requires the filing of

reports for compliance purposes by U.S.

financial institutions where a funds

transfer is not required to be blocked but

is rejected because the underlying

transaction is otherwise prohibited.

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 and 501.803 through

501.805 relate to license requests; the

amendment, modification or revocation

of licenses; rulemaking; and document

requests. Section 501.806 sets forth the

procedures to be followed by a person

seeking to have funds released at a

financial institution if the person

believes that the funds were blocked

due to mistaken identity. Section

501.807 sets forth the procedures to be

followed by persons seeking

administrative reconsideration of their

designation or that of a vessel as

blocked, or who wish to assert that the

circumstances resulting in the

designation are no longer applicable.

The likely respondents and

recordkeepers affected by the

information collections contained in

part 501 are financial institutions,

business organizations, and legal

representatives. The estimated total

annual reporting and/or recordkeeping

burden is approximately 26,250 hours.

The estimated annual burden per

respondent/record keeper varies from

thirty minutes to 10 hours, depending

on individual circumstances, with an

estimated average of 1.25 hours. The

estimated number of respondents and/or

record keepers is 21,000. The estimated

annual frequency of responses: 1–12.

Current Actions: There are no changes

being made to the notice at this time.

Type of Review: Extension of a

currently approved collection.

Affected Public: Financial

institutions, business organizations, and

legal representatives.

Estimated Number of Respondents:

21,000.

Estimated Time Per Respondent: 1.25

hours.

Estimated Total Annual Burden

Hours: 26,250.

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 for five

years.

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 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

to provide information.

Approved: May 23, 2001.

Barbara C. Hammerle,

Acting Chief Counsel, Office of Foreign Assets

Control.

[FR Doc. 01–13518 Filed 5–29–01; 8:45 am]

BILLING CODE 4810–25–P

DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control

Proposed Collection; Comment

Request for Payments to Persons Who

Hold Certain Categories of Judgments

Against Cuba or Iran

AGENCY: Office of Foreign Assets

Control, Treasury.

ACTION: Notice and request for

comments.