The Department of the Treasury is seeking public comments on a revised information collection called the Treasury International Capital Form SLT. This form involves reporting data on the buying, selling, and changes in the value of long-term securities by U.S. and foreign residents. The revision aims to improve data accuracy by collecting all information from a single source and reducing the paperwork burden on custodians. The updated form will become effective from February 2022, and the Treasury requests feedback on its necessity, accuracy, and ways to reduce respondent burdens before March 29, 2021.
Simple Explanation
The Department of the Treasury wants to make their big money form (called Form SLT) better so they can count all the money-ins and money-outs from both friends nearby and from faraway places. They want to hear what people think about these changes by March 2021.