Prior to subsequent renewals, FinCEN will a) clarify that the ICRs pertain to a recordkeeping requirement; b) incorporate language distinguishing between the burden of the program requirement vs. the burden of the documentation and recordkeeping requirement; c) solicit comment on the extent to which the recordkeeping requirement is requiring burden through the production of additional documentation not otherwise useful to the operation of the AMLprogram; and d) generate a burden estimate of the recordkeeping requirement in light of the responses received.
Inventory as of this Action
Requested
Previously Approved
10/31/2020
36 Months From Approved
04/30/2019
32,200
0
32,200
32,200
0
32,200
0
0
0
Regulation require Insurance companies and non-bank residential mortgage lenders and originators to establish and maintain a written anti-money laundering program. A copy of the written program must be maintained for five years. See 31 CFR 1025.210 and 1029.210
On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control number;
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
0035 AML-86iSupporting Statement 9-18-18.docx
Anti-Money Laundering Programs for Insurance Companies and Non-bank Residential Mortgage Lenders and Originators