NCUA Profile

Forms and Documents

Document Name	Status
Form NCUA 4501A NCUA Profile Form and Instruction	Modified
FINAL_3133-0204_SS_Profile_012120.docx Supporting Statement A	2020-01-22

IC Document Collections

IC ID	Document Title	Status
238251	NCUA Profile Form and Instruction	Modified

ICR Details

OMB Control No: 3133-0204	ICR Reference No: 202001-3133-005
Status: Historical Active	Previous ICR Reference No: 201910-3133-002
Agency/Subagency: NCUA	Agency Tracking No: E&I
Title: NCUA Profile
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: 02/24/2020
	Date Received in OIRA: 01/22/2020
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	02/28/2023	36 Months From Approved	11/30/2022
Responses	21,124	0	21,232
Time Burden (Hours)	42,248	0	42,464
Cost Burden (Dollars)	0	0	0

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Abstract: Sections 106 and 202 of the Federal Credit Union Act require federally insured credit unions to make financial reports to the NCUA. Section 741.6 requires insured credit unions to submit a Credit Union Profile (NCUA Form 4501A) and update the Profile with 10 days of election or appointment of senior management or volunteer officials or 30 days of other changes in Program information. The NCUA website further directs credit unions to review and certify their Profiles every Call Report (OMB No. 3133–0004) cycle. Statistical information collected through the Profile is essential to NCUA supervision of federal credit unions. This information also facilitates NCUA monitoring of other credit unions with share accounts insured by the National Credit Union Share Insurance Fund (NCUSIF).

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Authorizing Statute(s): US Code: 12 USC 1756 Name of Law: Reports and examinations
   US Code: 12 USC 1782 Name of Law: Administration of insurance fund
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 62558	11/15/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 3430	01/21/2020
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
NCUA Profile	NCUA 4501A	NCUA Profile

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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	21,124	21,232	0	0	-108	0
Annual Time Burden (Hours)	42,248	42,464	0	0	-216	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: Revisions include the addition of two questions addressing London Interbank Offered Rate (LIBOR) exposure. These questions are needed to identify FICUs that have LIBOR instruments or use LIBOR as a reference rate. Examiners will use this information to assess credit unions’ exposure, governance, risk management and readiness related to the discontinuation of the LIBOR index after 2021. This revision will not alter the estimated burden hours necessary to complete the profile. The information needed to provide a “yes” or “no” response is readily available and NCUA feels that the two hours currently allotted to complete the Form 4501A is sufficient. The adjustments are due to the reduction in the number of credit unions reporting.

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Annual Cost to Federal Government: $858,989

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.     Yes

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: 01/22/2020

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