RIN 2900-AR11, Fiduciary Bond (38 CFR Part 13)

ICR 202109-2900-011

OMB: 2900-0804

Federal Form Document

Forms and Documents
Document
Name
Status
Supplementary Document
2021-09-30
Supporting Statement A
2021-09-30
IC Document Collections
IC ID
Document
Title
Status
209361 Modified
ICR Details
2900-0804 202109-2900-011
Received in OIRA 201311-2900-006
VA VBA-P&F-NK
RIN 2900-AR11, Fiduciary Bond (38 CFR Part 13)
Existing collection in use without an OMB Control Number   No
Regular 10/01/2021
  Requested Previously Approved
36 Months From Approved
9,670 0
161 0
0 0

Due to Congress authorizing VA to require a prospective fiduciary to obtain a surety bond as a part of the certification process of a prospective fiduciary, VA is requiring fiduciaries to submit proof of adequate bonding with annual accounting to facilitate its oversight responsibility as mandated. RIN 2900-AR11, Fiduciary Bond, does not use a form to collect this information. However, the amended information request is made by VA field fiduciary personnel. They make the request either verbally or by letter that informs the fiduciary to submit the original bond certificate or the contractual agreement between the fiduciary and the bonding company as proof of adequate bonding. This amended collection of information is required to fulfill VA requirements mandated by Congress, for oversight of fiduciaries. The VA Fiduciary Program would not be able to provide adequate oversight of certain fiduciaries appointed to receive VA benefits in excess of $25,000 on behalf of a beneficiary without proof that surety bonds are in place to protect these funds.

US Code: 38 USC Chapter 61 Name of Law: Penal and Forfeiture Provisions
   US Code: 38 USC Chapter 55 Name of Law: Minors, Incompetents and Other Wards
  
None

2900-AR11 Proposed rulemaking 86 FR 53913 09/29/2021

No

1
IC Title Form No. Form Name
2900-AR11, Fiduciary Bond (38 CFR Part 13)

  Total Request 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 9,670 0 0 9,670 0 0
Annual Time Burden (Hours) 161 0 0 161 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
Yes
Miscellaneous Actions
No
The previous request didn't have any burden approved as there isn't a form to collect information. Hence, the reason why ROCIS is assuming this is an increase. However, as there were reported to be 10000 respondents in recent years, this amendment will result in a decrease from these reported respondents in the amount shown above.

$19,942
No
    No
    No
No
No
No
No
Maribel Aponte 202 266-4688 [email protected]

  No

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.
10/01/2021


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