[Federal Register Volume 87, Number 185 (Monday, September 26, 2022)]
[Notices]
[Pages 58435-58436]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2022-20768]


-----------------------------------------------------------------------

DEPARTMENT OF THE TREASURY


Agency Information Collection Activities; Submission for OMB 
Review; Comment Request; Office of Foreign Assets Control Information 
Collection Requests

AGENCY: Departmental Offices, Department of the Treasury.

ACTION: Notice.

-----------------------------------------------------------------------

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 comment on proposed or continuing 
information collections, as required by the Paperwork Reduction Act of 
1995. Currently, the Department of the Treasury's Office of Foreign 
Assets Control is soliciting comments concerning OFAC's Iranian 
Financial

[[Page 58436]]

Sanctions Regulations Report on Closure by U.S. Financial Institutions 
of Correspondent Accounts and Payable-Through Accounts.

DATES: Comments should be received on or before October 26, 2022 to be 
assured of consideration.

ADDRESSES: Written comments and recommendations for the proposed 
information collection should be sent within 30 days of publication of 
this notice to www.reginfo.gov/public/do/PRAMain. Find this particular 
information collection by selecting ``Currently under 30-day Review--
Open for Public Comments'' or by using the search function.

FOR FURTHER INFORMATION CONTACT: Copies of the submissions may be 
obtained from Melody Braswell by emailing [email protected], calling 
(202) 622-1035, or viewing the entire information collection request at 
www.reginfo.gov.

SUPPLEMENTARY INFORMATION:

Office of Foreign Assets Control (OFAC)

    Title: Iranian Financial Sanctions Regulations Report on Closure by 
U.S. Financial Institutions of Correspondent Accounts and Payable-
Through Accounts.
    OMB Number: 1505-0243.
    Type of Review: Extension without change of a currently approved 
collection.
    Description: Section 561.504(b) of the Iranian Financial Sanctions 
Regulations, 31 CFR part 561 (IFSR), specifies that a U.S. financial 
institution that maintained a correspondent account or payable-through 
account for a foreign financial institution whose name is added to the 
List of Foreign Financial Institutions Subject to Correspondent Account 
or Payable-Through Account Sanctions (the ``CAPTA List'') on OFAC's 
website (www.treas.gov/ofac) as subject to a prohibition on the 
maintaining of such accounts, must file a report with OFAC that 
provides complete information on the closing of each such account, and 
on all transactions processed or executed through the account pursuant 
to Sec.  561.504, including the account outside of the United States to 
which funds remaining in the account were transferred. This report must 
be filed with OFAC within 30 days of closure of the account. This 
collection of information assists in verifying that U.S. financial 
institutions are complying with prohibitions on maintaining 
correspondent accounts or payable-through accounts for foreign 
financial institutions listed on the CAPTA List pursuant to the IFSR. 
The reports will be reviewed by OFAC and may be used for compliance and 
enforcement purposes by the agency.
    Affected Public: The likely respondents affected by this collection 
of information are U.S. financial institutions maintaining 
correspondent accounts or payable-through accounts for foreign 
financial institutions.
    Estimated Number of Respondents: OFAC assesses that the estimate 
for the number of unique reporting respondents is approximately 1.
    Frequency of Response: The estimated annual frequency of responses 
is approximately 1 response per respondent.
    Estimated Total Number of Annual Responses: The estimated total 
number of responses per year is approximately 1.
    Estimated Time per Response: OFAC assesses that there is an average 
time estimate of 2 hours per response.
    Estimated Total Annual Burden Hours: The estimated total annual 
reporting burden is approximately 2 hours.
    Authority: 44 U.S.C. 3501 et seq.

Melody Braswell,
Treasury PRA Clearance Officer.
[FR Doc. 2022-20768 Filed 9-23-22; 8:45 am]
BILLING CODE 4810-AL-P