[Federal Register Volume 80, Number 209 (Thursday, October 29, 2015)]
[Notices]
[Pages 66574-66575]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-27596]


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DEPARTMENT OF LABOR

Office of the Secretary


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Foreign Currency Transactions, Prohibited 
Transaction Class Exemption 1994-20

ACTION: Notice.

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SUMMARY: The Department of Labor (DOL) is submitting the employee 
Benefits Security Administration (EBSA) sponsored information 
collection request (ICR) titled, ``Foreign Currency Transactions, 
Prohibited Transaction Class Exemption 1994-20,'' to the Office of 
Management and Budget (OMB) for review and approval for continued use, 
without change, in accordance with the Paperwork Reduction Act of 1995 
(PRA), 44 U.S.C. 3501 et seq. Public comments on the ICR are invited.

DATES: The OMB will consider all written comments that agency receives 
on or before November 30, 2015.

ADDRESSES: A copy of this ICR with applicable supporting documentation; 
including a description of the likely respondents, proposed frequency 
of response, and estimated total burden may be obtained free of charge 
from the RegInfo.gov Web site at http://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=201510-1210-006 (this link will only become active 
on the day following publication of this notice) or by contacting 
Michel Smyth by telephone at 202-693-4129, TTY 202-693-8064, (these are 
not toll-free numbers) or by email at [email protected].
    Submit comments about this request by mail or courier to the Office 
of Information and Regulatory Affairs, Attn: OMB Desk Officer for DOL-
EBSA, Office of Management and Budget, Room 10235, 725 17th Street, 
NW., Washington, DC 20503; by Fax: 202-395-5806 (this is not a toll-
free number); or by email: [email protected]. Commenters are 
encouraged, but not required, to send a courtesy copy of any comments 
by mail or courier to the U.S. Department of Labor-OASAM, Office of the 
Chief Information Officer, Attn: Departmental Information Compliance 
Management Program, Room N1301, 200 Constitution Avenue NW., 
Washington, DC 20210; or by email: [email protected].

FOR FURTHER INFORMATION CONTACT: Contact Michel Smyth by telephone at 
202-693-4129, TTY 202-693-8064, (these are not toll-free numbers) or by 
email at [email protected].

    Authority:  44 U.S.C. 3507(a)(1)(D).

SUPPLEMENTARY INFORMATION: This ICR seeks to extend PRA authority for 
the Foreign Currency Transactions information collection requirements 
in Prohibited Transaction Class Exemption (PTE) 1994-20, Foreign 
Exchange Transactions. The PTE permits, under circumstances the 
Employee Retirement Income Security Act of 1974 (ERISA) would otherwise 
preclude, the purchase and sale of foreign currencies between an 
employee benefit plan and a bank or a broker dealer or an affiliate 
thereof that is a party in interest with respect to such plan. The 
exemption imposes recordkeeping and disclosure requirements. Internal 
Revenue Code section 4975(c)(2) and ERISA section 408(a) authorize this 
information collection. See 26 U.S.C. 4975(c)(2); 29 U.S.C 1108(a).
    This information collection is subject to the PRA. A Federal agency 
generally cannot conduct or sponsor a collection of information, and 
the public is generally not required to respond to an information 
collection, unless it is approved by the OMB under the PRA and displays 
a currently valid OMB Control Number. In addition, notwithstanding any 
other provisions of law, no person shall generally be subject to 
penalty for failing to comply with a collection of information that 
does not display a valid Control Number. See 5 CFR 1320.5(a) and 
1320.6. The DOL obtains OMB approval for this information collection 
under Control Number 1210-0085.
    OMB authorization for an ICR cannot be for more than three (3) 
years without renewal, and the current approval for this collection is 
scheduled to expire on November 30, 2015. The DOL seeks to extend PRA 
authorization for this information collection for three (3) more years, 
without any change to existing requirements. The DOL notes that 
existing information collection requirements submitted to the OMB 
receive a month-to-month extension while they undergo review. For 
additional substantive information about this ICR, see the related 
notice published in the Federal Register on June 17, 2015 (80 FR 
34696).
    Interested parties are encouraged to send comments to the OMB, 
Office of Information and Regulatory Affairs at the address shown in 
the ADDRESSES section within thirty (30) days of publication of this 
notice in the Federal Register. In order to help ensure appropriate 
consideration, comments should mention OMB Control Number 1210-0085. 
The OMB is particularly interested in comments that:
     Evaluate whether the proposed collection of information is 
necessary for the proper performance of the functions of the agency, 
including whether the information will have practical utility;
     Evaluate the accuracy of the agency's estimate of the 
burden of the proposed collection of information, including the 
validity of the methodology and assumptions used;
     Enhance the quality, utility, and clarity of the 
information to be collected; and
     Minimize the burden of the collection of information on 
those who are to respond, including through the use of appropriate 
automated, electronic, mechanical, or other technological collection 
techniques or other forms of information technology, e.g., permitting 
electronic submission of responses.
    Agency: DOL-EBSA.
    Title of Collection: Foreign Currency Transactions, Prohibited 
Transaction Class Exemption 1994-20.
    OMB Control Number: 1210-0085.
    Affected Public: Private Sector--businesses or other for-profits 
and not-for-profit institutions.
    Total Estimated Number of Respondents: 248.
    Total Estimated Number of Responses: 1,240.
    Total Estimated Annual Time Burden: 200 hours.
    Total Estimated Annual Other Costs Burden: $0.


[[Page 66575]]


     Dated: October 26, 2015.
Michel Smyth,
Departmental Clearance Officer.
[FR Doc. 2015-27596 Filed 10-28-15; 8:45 am]
 BILLING CODE 4510-29-P