[Federal Register: February 11, 2005 (Volume 70, Number 28)] [Notices] [Page 7230-7231] From the Federal Register Online via GPO Access [wais.access.gpo.gov] [DOCID:fr11fe05-29] ======================================================================= ----------------------------------------------------------------------- DEPARTMENT OF COMMERCE Bureau of Economic Analysis Institutional Remittances to Foreign Countries ACTION: Proposed collection; comment request. ----------------------------------------------------------------------- SUMMARY: The Department of Commerce, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)). DATES: Written comments must be submitted on or before April 12, 2005. ADDRESSES: Direct all written comments to Diana Hynek, Departmental Paperwork Clearance Officer, Department of Commerce, Room 6625, 14th and Constitution Avenue, NW., Washington, DC 20230 (or via the Internet at dhynek@doc.gov). FOR FURTHER INFORMATION CONTACT: Michael Mann, Chief, Current Account Services Branch, Balance of Payments Division (BE-58), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, DC 20230; phone: (202) 606-9573; fax: (202) 606-5314; or via the Internet at michael.mann@bea.gov. SUPPLEMENTARY INFORMATION: I. Abstract The Bureau of Economic Analysis (BEA) is responsible for the compilation of the U.S. international transactions accounts (ITA's), which it publishes quarterly in news releases, on its Web site, and in its monthly journal, the Survey of Current Business. These accounts provide a statistical summary of all U.S. international transactions and, as such, are one of the major statistical products of BEA. They are used extensively by both government and private organizations for national [[Page 7231]] and international economic policy formulation and for analytical purposes. The information collected in this survey is used to develop the ``private remittances'' portion of the ITA's. Without this information, an integral component of the ITA's would be omitted. No other Government agency collects comprehensive data on private unilateral transfers of funds to foreign countries. The survey requests information from U.S. religious, charitable, educational, scientific, and similar organizations on transfers to foreign residents and their expenditures in foreign countries. The information is collected on a quarterly basis from organizations remitting $1 million or more each year and annually for organizations remitting at least $25,000 but less than $1 million each year. Organizations with remittances of less than $25,000 each year are exempt from reporting. The survey is voluntary. BEA is proposing a minor revision to Form BE-40 to change ``Other International Nations'' on the ``area/country'' list to ``Other International Organizations.'' II. Method of Collection Survey forms are mailed to potential respondents in January of each year; respondents expected to file on a quarterly basis are sent multiple copies. Quarterly reports are due 30 days after the close of each calendar or fiscal quarter and annual reports are due 90 days after the close of the calendar or fiscal year. Potential respondents are U.S. religious, charitable, educational, scientific, and similar organizations that voluntarily agree to provide data regarding transfers of cash grants to foreign countries and their expenditures in foreign countries. III. Data OMB Number: 0608-0002. Form Number: BE-40. Type of Review: Regular submission. Affected Public: Not-for-profit institutions. Estimated Number of Respondents: 790. Estimated Time Per Response: 1.5 hours annually for respondents filing annually, 6.0 hours annually for respondents filing quarterly. Estimated Total Annual Burden Hours: 2,100 hours. Estimated Total Annual Cost: $84,000 based on an estimated reporting burden of 2,100 hours and an estimated hourly cost of $40. Respondent's Obligation: Voluntary. Legal Authority: Bretton Woods Agreement Act, Section 8, and E.O. 10033, as amended. IV. Request for Comments Comments are invited on: (a) 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; (b) the accuracy of the agency's estimate of burden (including hours and cost) of the proposed collection of information; (c) ways to enhance the quality, utility, and clarity of the information to be collected; and (d) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or other forms of information technology. Comments submitted in response to this notice will be summarized and/or included in the request for OMB approval of this information collection; they also will become a matter of public record. Dated: February 8, 2005. Madeleine Clayton, Management Analyst, Office of the Chief Information Officer. [FR Doc. 05-2693 Filed 2-10-05; 8:45 am]