Overview
Title
Agency Information Collection Activities; Submission for OMB Review; Comment Request; Multiple Bureau of Fiscal Service Information Collection Requests
Agencies
ELI5 AI
The Treasury Department wants people to give their thoughts on some forms they use to make sure companies are safe to work with and to help people who lost their savings bonds. They want to hear what you think before the end of March 2025, but it might be tricky for some people who don't have the internet.
Summary AI
The Department of the Treasury is seeking public comments on various information collection requests before submitting them to the Office of Management and Budget (OMB) for review. These collections are related to the renewal of certificates for surety companies, waivers from electronic fund transfer requirements for specific individuals, claims for lost or destroyed U.S. savings bonds, and requests by fiduciaries for distribution of Treasury securities. The public is invited to provide feedback by March 31, 2025, to ensure their considerations are included.
Abstract
The Department of the Treasury will submit the following information collection requests to the Office of Management and Budget (OMB) for review and clearance in accordance with the Paperwork Reduction Act of 1995, on or after the date of publication of this notice. The public is invited to submit comments on these requests.
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Sources
AnalysisAI
The document from the Federal Register outlines a notice from the Department of the Treasury seeking public comments on several information collection requests. These requests will be submitted to the Office of Management and Budget (OMB) for review. The collections involve various topics, including the renewal of certificates for surety companies, waivers from electronic funds transfer (EFT) requirements, claims for lost or destroyed U.S. savings bonds, and fiduciary requests for the distribution of Treasury securities.
Summary of the Document
The notice serves as an invitation for public feedback concerning these information collections. The Treasury Department aims to consider comments before making any submissions to the OMB. Members of the public are encouraged to submit their comments by March 31, 2025, ensuring their perspectives are taken into account. This process is part of the efforts to streamline governmental functions and adhere to the Paperwork Reduction Act of 1995.
Significant Issues and Concerns
There are notable issues within the document that could affect its clarity and accessibility. The language used, particularly in the supplementary information section, might be complicated for individuals without prior expertise in government processes or legal terminology. This could hinder the public’s ability to fully comprehend the implications of the information collection requests.
Additionally, the criteria for eligibility for an EFT waiver, specifically "mental impairment" and "living in a remote geographic location," could be ambiguous. Without clearer definitions or examples, individuals may struggle to determine if they meet the criteria.
The requirement for a notarized justification when applying for an EFT waiver might impose an unnecessary administrative burden. This is particularly concerning for elderly individuals and those residing in remote areas who might find it difficult to access notary services.
Impact on the Public
The document has the potential to impact the public in various ways. It engages individuals and organizations by seeking their input on policies that might affect their dealings with the Treasury. However, the complexity of the language and the requirements could limit effective participation from those the policies directly impact.
Impact on Specific Stakeholders
For businesses, particularly those involved with surety bonds, the renewal of certificates is crucial for their operations. Clear and accessible guidelines ensure these companies can comply efficiently. However, the lack of clarity could create confusion and hinder their business activities.
Individuals or households needing to claim lost or destroyed bonds, or those requiring waivers for EFT, may face challenges. The document outlines processes that could become cumbersome due to the need for notarized documentation, potentially leading to delays in accessing necessary financial resources.
Moreover, the reliance on an online platform for submitting comments might exclude those without internet access. This lack of inclusivity could diminish the voices of individuals who might have valuable insights or concerns regarding the information collection processes.
In conclusion, while the Department of the Treasury's notice provides an opportunity for public participation in governmental processes, careful consideration of the language, accessibility, and administrative requirements is essential to ensure that the submission process is inclusive and comprehensible to all affected parties.
Issues
• The document contains complex language, especially in the supplementary information section describing the OMB Control Numbers and related abstracts, which might be difficult for general public to understand without prior knowledge of the subject.
• There is potential ambiguity in the 'Request for Payment of Federal Benefit by Check, EFT Waiver Form,' particularly the criteria for eligibility due to 'mental impairment' and 'living in a remote geographic location.' Clearer definitions or examples could be beneficial.
• The requirement for a notarized justification in 31 CFR part 208 for EFT waiver requests may be an unnecessary administrative burden, especially for elderly individuals or those living in remote areas.
• The document lacks an explanation of how the estimated number of respondents and time per respondent were calculated, which could raise questions about the accuracy of these estimates.
• The requirement for comments to be sent to www.reginfo.gov could be seen as inaccessible by people without internet access, limiting the inclusivity of the public comment process.