41188 Federal Register / Vol. 87, No. 131 / Monday, July 11, 2022 / Notices 

11See supra note 5. 

12FinCEN estimates each subject requires 4 

minutes to research and report, resulting in 

approximately 24 hours per year per respondent 

(365 searches/responses multiplied by 4 minutes 

per subject and divided by 60 minutes). FinCEN 

welcomes comments on the accuracy of this 

assumption. 

13The total annual burden computation is as 

follows: approximately 24 hours per year per 

respondent multiplied by 14,960 respondents 

equals 363,827 hours. 

14The total annual cost computation is as follows: 

363,827 hours times the financial institution fully 

loaded wage estimate of $95 per hour equals 

$34,563,565. To estimate an average hourly 

financial institution employee wage, FinCEN uses 

hourly wage data for the following six occupations 

in each of the nine categories of covered financial 

institutions that face BSA requirements: chief 

executives (OCC-code: 11–1010); financial 

managers (OCC-code: 11–3031); compliance officers 

(OCC-code: 13–1041); financial clerks (OCC-code: 

43–3099); lawyers and judicial clerks (OCC-code: 

23–1010); and computer and information systems 

managers (OCC-code: 11–3021). The 54 hourly wage 

estimate inputs (9 financial industry categories 

multiplied by six occupations) yield a 

comprehensive financial institution hourly wage 

estimate of $67.23. The ratio between benefits and 

wages for private industry workers is $11.22 (hourly 

benefits)/$26.86 (hourly wages) = 0.42, as of 

December 2021. The benefit factor is 1 plus the 

benefit/wages ratio, or 1.42. See U.S. Bureau of 

Labor Statistics, ‘‘Employer Costs for Employee 

Compensation Historical Listing,’’ https://

www.bls.gov/web/ecec/ececqrtn.pdf. The private 

industry workers series data for December 2021 is 

available at https://www.bls.gov/web/ecec/ececprivate-dataset.xlsx. Multiplying the hourly wage 

estimate of $67.23 by the benefits factor of 1.42 and 

rounding to the nearest dollar produces a fully 

loaded hourly compensation amounts of $95 per 

hour. 

• Only positive responses confirming 

a match are required to be reported to 

FinCEN by checking a box 

corresponding to the match on FinCEN’s 

secure website. 

• FinCEN has been estimating a 

burden of 4 minutes per subject in PRA 

renewals since the expansion of the rule 

in 2010.11 We have not received public 

comments questioning or contradicting 

this estimate. 

Estimated Burden Hours per 

Respondent: 24 hours annually.12

Estimated Total Annual Burden 

Hours: 363,827.13

Estimated Total Annual Cost: 

$34,563,565.14

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. 

Request for Comments 

(a) Specific request for comments on 

the PRA hourly burden and cost. 

FinCEN invites comments on any 

aspect of the PRA burden set out in 

section II of this notice. In particular, 

FinCEN seeks comments on the 

adequacy of: (i) FinCEN’s assumptions 

underlying its estimate of the burden; 

(ii) the estimated amount of time per 

subject; and (iii) the organizational 

levels of employees engaged in 

responding to requests. 

(b) Specific questions for comment 

regarding compliance with information 

requests as outlined in 31 CFR 1010.520 

(if the commenter represents a financial 

institution, FinCEN asks that the 

comment provide information particular 

to that financial institution.) 

1. To what extent can a financial 

institution rely on existing software to 

conduct its 314(a) search? 

2. On average, how long does it take 

your financial institution to perform a 

search for a particular subject of a 314(a) 

request (‘‘314(a) subject’’)? 

3. How often does your financial 

institution generate a positive match to 

a 314(a) subject that requires additional 

research to confirm if the account or 

transaction is in fact connected to that 

subject? 

4. What steps does your financial 

institution take once your automated 

system generates a match to a 314(a) 

subject to determine if it is an actual 

match or a false positive? What type of 

records does your financial institution 

maintain to document the results of this 

type of research? 

5. How frequently does your financial 

institution’s automated system identify 

matches to a 314(a) subject that 

ultimately result in a false positive? 

6. What type of records does your 

financial institution maintain to 

document that a 314(a) search has been 

conducted? 

7. What is the role of the individual 

at your financial institution that acts as 

the point of contact for 314(a) requests? 

8. Is more than one employee at your 

financial institution involved in 

conducting the biweekly 314(a) 

searches? 

9. Does senior management play a role 

in reviewing the results of your 

financial institution’s biweekly search 

for subjects of 314(a) requests? 

(c) General 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: (1) 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; 

(2) the accuracy of the agency’s estimate 

of the burden of the collection of 

information; (3) ways to enhance the 

quality, utility, and clarity of the 

information to be collected; (4) 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 (5) estimates of capital 

or start-up costs and costs of operation, 

maintenance and purchase of services to 

provide information. 

Himamauli Das, 

Acting Director, Financial Crimes 

Enforcement Network. 

[FR Doc. 2022–14638 Filed 7–8–22; 8:45 am] 

BILLING CODE 4810–02–P 

DEPARTMENT OF THE TREASURY 

Internal Revenue Service 

Open Meeting of the Taxpayer 

Advocacy Panel Taxpayer Assistance 

Center Improvements Project 

Committee 

AGENCY: Internal Revenue Service (IRS), 

Treasury. 

ACTION: Notice of meeting. 

SUMMARY: An open meeting of the 

Taxpayer Advocacy Panel’s Taxpayer 

Assistance Center Improvements Project 

Committee will be conducted. The 

Taxpayer Advocacy Panel is soliciting 

public comments, ideas, and 

suggestions on improving customer 

service at the Internal Revenue Service. 

This meeting will still be held via 

teleconference. 

DATES: The meeting will be held 

Thursday, August 11, 2022. 

FOR FURTHER INFORMATION CONTACT: 

Matthew O’Sullivan at 1–888–912–1227 

or (510) 907–5274. 

SUPPLEMENTARY INFORMATION: Notice is 

hereby given pursuant to Section 

10(a)(2) of the Federal Advisory 

Committee Act, 5 U.S.C. App. (1988) 

that an open meeting of the Taxpayer 

Advocacy Panel’s Taxpayer Assistance 

Center Improvements Project Committee 

will be held Thursday, August 11, 2022, 

at 3:00 p.m. Eastern Time. The public is 

invited to make oral comments or 

submit written statements for 

consideration. Due to limited time and 

structure of meeting, notification of 

intent to participate must be made with 

Matthew O’Sullivan. For more 

information please contact Matthew 

O’Sullivan at 1–888–912–1227 or (510) 

907–5274, or write TAP Office, 1301 

Clay Street, Oakland, CA 94612–5217 or 

contact us at the website: http://

www.improveirs.org. The agenda will 

include various IRS issues. 

Dated: July 5, 2022. 

Kevin Brown, 

Acting Director, Taxpayer Advocacy Panel. 

[FR Doc. 2022–14646 Filed 7–8–22; 8:45 am] 

BILLING CODE 4830–01–P 


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