Persons Providing Remittance Forwarding Services

Forms and Documents

Document Name	Status
1505-0167 SS Cuba Remittances Rule 2019-09-24.docx Supporting Statement A	2019-09-24

IC Document Collections

IC ID	Document Title	Status
15193	Persons Providing Remittance Forwarding Services	Modified

ICR Details

OMB Control No: 1505-0167	ICR Reference No: 201909-1505-002
Status: Active	Previous ICR Reference No: 201604-1505-001
Agency/Subagency: TREAS/DO	Agency Tracking No: OFAC
Title: Persons Providing Remittance Forwarding Services
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular
OIRA Conclusion Action: Approved without change	Conclusion Date: 12/20/2019
	Date Received in OIRA: 09/24/2019
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	12/31/2022	36 Months From Approved	01/31/2020
Responses	7,000,000	0	7,000,000
Time Burden (Hours)	116,667	0	116,667
Cost Burden (Dollars)	0	0	0

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Abstract: The information collected is used by OFAC to implement its compliance and enforcement programs pursuant to the Regulations, including with respect to whether remitters are exceeding the restrictions on the frequency, payees, and dollar amounts of remittances. Specifically, banking institutions providing remittance forwarding services are required to collect from persons who use such services a certification indicating the relevant remittance provisions of the Regulations. Such banking institutions will retain this information on file for five years, subject to audit by the U.S. Department of the Treasury for compliance, civil penalty, and enforcement purposes. Specifically, the information may be requested by OFAC to verify that persons sending remittances to Cuba were licensed by OFAC to do so and facilitate OFAC's addressing of potential violations of the Regulations.

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Authorizing Statute(s): US Code: 22 USC 6001-6010 Name of Law: null
   US Code: 50 USC App. 1-44 Name of Law: null
   US Code: 22 USC 6021-6091 Name of Law: null
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1505-ZA03	Final or interim final rulemaking	84 FR 47121	09/09/2019

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 18341	04/30/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 47121	09/09/2019
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Persons Providing Remittance Forwarding Services

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ICR Summary of Burden

	Total Approved	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	7,000,000	7,000,000	0	0	0	0
Annual Time Burden (Hours)	116,667	116,667	0	0	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement:

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? Uncollected

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 09/24/2019

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