[Federal Register Volume 70, Number 204 (Monday, October 24, 2005)]
[Notices]
[Page 61505]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 05-21198]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control


Proposed Collection; Comment Request for Electronic License 
Application Form

AGENCY: Office of Foreign Assets Control, Treasury.

ACTION: Notice and request for comments.

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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 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 
Electronic License Application Form TD-F 90-22.54.

DATES: Written comments should be received on or before December 23, 
2005 to be assured of consideration.

ADDRESSES: Direct all written comments to ``Paperwork Reduction Act'' 
care of the Licensing Division, 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 the Licensing 
Division, Office of Foreign Assets Control, Department of the Treasury, 
1500 Pennsylvania Avenue, NW., Annex--2d Floor, Washington, DC 20220.

SUPPLEMENTARY INFORMATION:
    Title: OFAC Application for the Release of Blocked Funds.
    Agency Form Number: TD-F 90-22.54.
    OMB Number: 1505-0170.
    Abstract: Transactions prohibited pursuant to the Trading With the 
Enemy Act, 50 U.S.C. App. 1-44, the International Emergency Economic 
Powers Act, 50 U.S.C. 1701, and similar authorities may be authorized 
by means of specific licenses issued by the Office of Foreign Assets 
Control (``OFAC''). Such licenses are issued in response to 
applications submitted by persons or institutions whose property has 
been blocked or who wish to engage in transactions that would otherwise 
be prohibited. Form TD-F 90-22.54, which provides a standardized method 
for all applicants seeking the unblocking of funds transfers, is 
available in electronic format on OFAC's website. Use of the form 
greatly facilitates and speeds these applicants' submissions and OFAC's 
processing of such applications while simultaneously obviating the need 
for applicants to write lengthy letters to OFAC, thus reducing the 
overall burden of the application process. Since February 2000, use of 
the form to apply for the unblocking of funds transfers has been 
mandatory pursuant to a revision in OFAC's regulations at 31 CFR 
501.801. See 65 FR 10708, February 29, 2000.
    Current Actions: There are no changes being made to the form at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Individuals/businesses and other for-profit 
institutions/banking institutions.
    Estimated Number of Respondents: 3,000.
    Estimated Time Per Respondent: 30 minutes.
    Estimated Total Annual Burden Hours: 1,500.
    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 Office of Management and Budget (``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: October 18, 2005.
Barbara C. Hammerle,
Deputy Director, Office of Foreign Assets Control.
[FR Doc. 05-21198 Filed 10-21-05; 8:45 am]
BILLING CODE 4810-25-P