APPROVED WITH
THE FOLLOWING CONDITIONS: (1) THE INFORMATION COLLECTION
REQUIREMENTS CONTAINED IN THE PROPOSED RULE ARE CONDITIONALLY
APPROVED AT 1 ADDITIONAL BURDEN HOUR AS THEY ARE ONLY AT THE
PROPOSAL STAGE. WHEN (AND IF) THE DEPARTMENT PROPOSES TO GO FINAL
ON THIS RULE, IT MUST RESUBMIT THE INFORMATION COLLECTION FOR OMB
REVIEW UNDER THE PAPERWORK REDUCTION ACT WITH A SUMMARY OF ALL
PUBLIC COMMENT RECEIVED ON THE PROPOSED RULE'S PAPERWORK BURDEN AND
AN ESTIMATE OF THE ADDITIONAL PAPERWORK BURDEN IMPOSED BY THE
RULE'S REQUIREMENTS, AND (2) THE DEPARTMENT'S REQUEST FOR A 5 YEAR
RECORD RETENTION PERIOD IS APPROVED DUE TO THE APPLICABLE STATUTE
OF LIMITATIONS FOR ACTION UNDER THE BANK SECRECY ACT. THESE
CONDITIONS ARE BEING IMPOSED TO ENSURE THE INFORMATION COLLECTION
IMPOSES THE MINIMUM BURDEN NECESSARY AS REQUIRED BY THE PAPERWORK
REDUCTION ACT AND ITS IMPLEMENTING REGULATIONS AT 5 CFR 1320.
Inventory as of this Action
Requested
Previously Approved
10/31/1989
10/31/1989
10/31/1989
2,600,000
0
2,600,000
906,001
0
906,000
0
0
0
THIS REPORTING REQUIREMENT IS INTENDED
TO DISCOURAGE THE USE OF FOREIGN FINANCIAL AGENCIES AND ACCOUNTS TO
FACILITATE ILLEGAL ACTIVITIES. THESE REPORTS WILL BE USED TO DETECT
PERSONS WHO CONDUCT MONEY LAUNDERING, TAX FRAUD OR EVASION, OR
OTHER CRIMINAL ACTIVITY THROUGH FOREIGN FINANCIAL
TRANSACTIONS.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.