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Federal Register / Vol. 86, No. 143 / Thursday, July 29, 2021 / Notices Under the PRA 44 U.S.C. 35013520, Federal agencies must obtain approval from the OMB for each collection of information that they conduct or sponsor.
Collection of information is defined in 44 U.S.C. 35023 and 5 CFR
1320.3c to include agency requests or requirements that members of the public submit reports, keep records, or provide information to a third party. Section 3506c2A of title 44 requires Federal agencies to provide a 60-day notice in the Federal Register concerning each proposed collection of information, including each proposed extension of an existing collection of information, before submitting the collection to OMB
for approval. To comply with this requirement, the OCC is publishing notice of the proposed collection of information set forth in this document.
Title: Appraisal Management Companies.
OMB Control No.: 15570324.
Affected Public: Business or other forprofit.
Type of Review: Regular review.
Abstract: The OCC, Board of Governors of the Federal Reserve System FRB, Federal Deposit Insurance Corporation FDIC, National Credit Union Administration NCUA, Consumer Financial Protection Bureau Bureau, and Federal Housing Finance Agency FHFA collectively, Agencies have rules implementing the minimum requirements in section 1473 of the Dodd-Frank Wall Street Reform and Consumer Protection Act Dodd-Frank Act 2 to be applied by States in the registration and supervision of appraisal management companies AMCs. The Agencies also have implemented the requirement in section 1473 of the Dodd-Frank Act for States to report to the Appraisal Subcommittee of the Federal Financial Institutions Examination Council FFIEC the information required by the Appraisal Subcommittee ASC to administer the new national registry of appraisal management companies AMC National Registry or Registry.

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SUPPLEMENTARY INFORMATION:

State Recordkeeping Requirements States seeking to register AMCs must have an AMC registration and supervision program. Twelve CFR
34.213a requires each participating State to establish and maintain within its appraiser certifying and licensing agency a registration and supervision program with the legal authority and mechanisms to: i Review and approve or deny an application for initial 2 Public
Law 111203, sec. 1473, 124 Stat. 1376, 2190 2010.

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registration; ii periodically review and renew or deny renewal of an AMCs registration; iii examine the books and records of the AMC operating in the State and require the AMC to submit reports, information, and documents;
iv verify that the appraisers on an AMCs panel hold valid State certifications or licenses; v investigate and assess potential violations of appraisal-related laws, regulations, or orders; vi discipline, suspend, terminate, or deny registration renewals of AMCs that violate appraisal-related laws, regulations, or orders; and vii report violations of appraisal-related laws, regulations, or orders as well as disciplinary and enforcement actions to the ASC.
Twelve CFR 34.213b requires each participating State to impose requirements on AMCs that are not owned and controlled by an insured depository institution and regulated by a Federal financial institutions regulatory agency to: i Register with and be subject to supervision by a State appraiser certifying and licensing agency in each State in which the AMC
operates; ii engage only State-certified or State-licensed appraisers for Federally regulated transactions in conformity with any Federally regulated transaction regulations; iii establish and comply with processes and controls reasonably designed to ensure that the AMC, in engaging an appraiser, selects an appraiser who is independent of the transaction and who has the requisite education, expertise, and experience to competently complete the appraisal assignment for the particular market and property type; iv direct the appraiser to perform the assignment in accordance with Uniform Standards of Professional Appraisal Practices USPAP; and v establish and comply with processes and controls reasonably designed to ensure that the AMC conducts its appraisal management services in accordance with section 129Eai of the Truth in Lending Act.
Burden: 1 respondent; 1 response per year; 40 hours per response; 40 total burden hours.
State Reporting Burden
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Burden: 1,158 respondents; 2
responses per year; 1 hour per response;
2,316 total burden hours.
AMC Recordkeeping Requirements Twelve CFR 34.212b provides that an appraiser in an AMCs network or panel is deemed to remain on the network or panel until: i The AMC
sends a written notice to the appraiser removing the appraiser from the appraiser panel with an explanation of its action; or ii receives written notice from the appraiser asking to be removed from the appraiser panel or notice of the death or incapacity of the appraiser.
Burden: 1,239 respondents; 1
response per year; 0.08 hours per response; 99 total burden hours.
Total Estimated Annual Burden:
2,455 hours.
Comments submitted in response to this notice will be summarized and included in the request for OMB
approval. All comments will become a matter of public record. Comments are invited on:
a Whether the collection of information is necessary for the proper performance of the functions of the OCC, including whether the information has practical utility;
b The accuracy of the OCCs estimate of the information collection burden;
c Ways to enhance the quality, utility, and clarity of the information to be collected;
d Ways to minimize the burden of the collection on respondents, including through the use of automated collection techniques or other forms of information technology; and e Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.
Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency.
FR Doc. 202116149 Filed 72821; 8:45 am BILLING CODE 481033P

DEPARTMENT OF THE TREASURY
Internal Revenue Service
Twelve CFR 34.216 requires that each State electing to register AMCs for purposes of permitting AMCs to provide appraisal management services relating to covered transactions in the State must submit to the ASC the information required to be submitted under subpart H to part 34 and any additional information required by the ASC
concerning AMCs that operate in the State.

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Quarterly Publication of Individuals, Who Have Chosen To Expatriate, as Required by Section 6039G
Internal Revenue Service IRS, Treasury.
ACTION: Notice.
AGENCY:

This notice is provided in accordance with IRC section 6039G of the Health Insurance Portability and
SUMMARY:

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