[Federal Register Volume 72, Number 243 (Wednesday, December 19, 2007)]
[Notices]
[Page 72001]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: E7-24547]


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DEPARTMENT OF THE TREASURY

Office of Foreign Assets Control


Proposed Collection; Comment Request for Rough Diamonds Reporting 
Requirement

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 take this opportunity 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 requirement to report information about the shipment 
of rough diamonds.

DATES: Written comments should be received on or before February 19, 
2008.

ADDRESSES: Direct all written comments to Assistant Director, Policy, 
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 Assistant 
Director, Policy, Office of Foreign Assets Control, or Chief Counsel 
(Foreign Assets Control), Department of the Treasury, 1500 Pennsylvania 
Avenue, NW., Annex--2d Floor, Washington, DC 20220.

SUPPLEMENTARY INFORMATION: 
    Title: Requirement to report information about the shipment of 
rough diamonds.
    OMB Number: 1505-0198.
    Abstract: The ultimate consignee of rough diamond shipments, 
identified on Customs Form 7501 Entry Summary, is required to report 
specified information about the shipment of rough diamonds imported 
into the United States to the foreign exporting authority within 15 
calendar days of the date that the shipment arrived at a U.S. port of 
entry pursuant to Sec.  592.301(a)(3) of the Rough Diamonds Control 
Regulations, 31 CFR Part 592. This collection of information is needed 
to monitor the integrity of international rough diamond shipments, and 
the information collected will be used to further the compliance, 
enforcement, and civil penalty programs of the Office of Foreign Assets 
Control of the Department of the Treasury (``OFAC'').
    Current Actions: There are no changes being made to the notice at 
this time.
    Type of Review: Extension of a currently approved collection.
    Affected Public: Business organizations and individuals engaged in 
the international diamond trade.
    Estimated Number of Respondents: 250, with an estimated 3,000 total 
annual responses.
    Estimated Time Per Respondent: The estimated average annual burden 
per respondent is 2 hours, based on an estimated annual frequency of 10 
to 15 responses and an estimated time per response of 10 minutes.
    Estimated Total Annual Burden Hours: 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: December 11, 2007.
Adam J. Szubin,
Director, Office of Foreign Assets Control.
[FR Doc. E7-24547 Filed 12-18-07; 8:45 am]
BILLING CODE 4811-45-P