Search Results for keywords:"Reporting Requirements"

The Financial Crimes Enforcement Network (FinCEN) has issued an interim final rule to change the reporting requirements for beneficial ownership information under the Corporate Transparency Act. Previously, both domestic and foreign companies had to report information about their owners. Now, domestic companies are exempt from these requirements, and foreign companies are only required to report information about non-U.S. owners. This change is intended to reduce the burden on U.S. businesses, and FinCEN is asking for public comments before finalizing the rule.

The Office of Refugee Resettlement (ORR) under the U.S. Department of Health and Human Services is seeking public comments on proposed changes to its information collection process for the Unaccompanied Children Bureau. These changes include the reorganization and update of several reporting forms to enhance operational efficiency, clarify reporting requirements, and improve data collection related to incidents involving unaccompanied children. The deadline for submitting comments on these changes is February 25, 2025. ORR aims to gather feedback on whether the information collection is necessary, the accuracy of burden estimates, the clarity of the information, and potential ways to reduce the burden on respondents.

The Pension Benefit Guaranty Corporation (PBGC) is planning to ask the Office of Management and Budget (OMB) to continue approving its information collection efforts related to multiemployer pension plans, following the Paperwork Reduction Act guidelines. The PBGC seeks public comments on whether the proposed data collections are useful, accurately estimated in terms of burden, clearly presented, and minimize respondent burden. This includes specific regulations under the Employee Retirement Income Security Act of 1974, such as reporting requirements for terminating or insolvent plans and related notices that help PBGC manage financial assistance needs. Comments can be submitted by May 9, 2025, through various methods, including the Federal eRulemaking Portal and email.

The Board of Governors of the Federal Reserve System has decided to extend for three more years, without any changes, the recordkeeping, disclosure, and reporting rules related to securities transactions under Regulation H. These rules apply to state member banks (SMBs) and are designed to ensure they keep proper records, provide necessary transaction confirmations to customers, and establish policies for securities trading. The rules are carried out under sections 208.34(c), (d), and (g) of the regulation and are required by the Securities Exchange Act of 1934. The extension was announced without any public comments received on a notice issued in October 2020.

The Bureau of Economic Analysis (BEA), part of the Department of Commerce, is conducting a mandatory survey called the Quarterly Survey of U.S. Airline Operators' Foreign Revenues and Expenses (BE-37). This survey collects data from U.S. airline operators involved in international transportation if their total revenues or expenses are $500,000 or more. Reports must be submitted using BEA's electronic system, and they are due 30 days after the end of each quarter. The survey aims to measure U.S. trade in transport services and is authorized by the International Investment and Trade in Services Survey Act.

The Board of Governors of the Federal Reserve System has proposed to extend the Reporting Requirements for Regulation TT for another three years without any changes. They are seeking public comments on this proposal, particularly on whether the information is necessary, the accuracy of burden estimates, and ways to improve the information collection process. The regulation involves collecting fees from certain large financial institutions to cover the Board's supervisory and regulatory responsibilities. The Federal Reserve is accepting comments until April 7, 2025, and these comments will help determine if any modifications to the proposal are needed.

The U.S. Environmental Protection Agency (EPA) has made changes to rules about aerosol sprays to reduce pollution that contributes to smog. These new amendments focus on using less reactive compounds in aerosol products, and they update testing methods, reporting requirements, and compliance dates for the industry. Companies that make or sell these aerosol products, especially those not operating in California, need to comply by mid-2025, but they can start using the new standards earlier if they choose. The EPA believes these changes won't harm the environment and will help align national and state regulations.

The Farm Credit Administration (FCA) has released a document addressing comments about reducing regulatory burdens on Farm Credit System (FCS) institutions, such as the Federal Agricultural Mortgage Corporation. It explains the FCA's response to feedback received about rules considered unnecessary or burdensome. Key points discussed include changes needed for accounting practices and reporting requirements, and some suggestions that align with ongoing regulatory projects. The FCA also mentions willingness to evaluate certain comments further and emphasizes its commitment to maintaining necessary regulations to ensure safety and soundness while reducing unnecessary burdens.