Page 16 - April 2018

Mint reserves the right to limit or refuse a return or to
• FEMA announced it seeks comment on the charge a fee for excessive returns. In addition, the
information collection Manufactured Housing United States Mint reserves the right to suspend
Operations Forms. FEMA also gave notice that it accounts of customers with a pattern of excessive
sent the collection to OMB for review. returns. The notice may be viewed at:
Comments are due 06/04/2018. The notice may https://www.gpo.gov/fdsys/pkg/FR-2018-03-
be viewed at: 13/pdf/2018-05002.pdf. Federal Register, Vol. 83,
No. 49, 03/13/2018, 10950.
https://www.gpo.gov/fdsys/pkg/FR-2018-04-
04/pdf/2018-06807.pdf. Federal Register, Vol. Treasury Issues Correction to Regulation
83, No. 65, 04/04/2018, 14472-14473.
Regarding Allocation of Mortgage
FinCEN Releases FAQs Regarding Insurance Premiums.
Customer Due Diligence Requirements. Treasury has issued corrections to final regulations
related to allocating prepaid qualified mortgage
The Financial Crimes Enforcement Network insurance premiums to determine the amount of the
(FinCEN) issued Frequently Asked Questions to prepaid premium that is treated as qualified residence
assist covered financial institutions in understanding interest each taxable year. The final rule was
the scope of the Customer Due Diligence published in the Federal Register on 05/07/2012. The
Requirements for Financial Institutions, published in corrections are effective 03/13/2018. The notice may
the Federal Register on 05/11/2016, as amended on be viewed at: https://www.gpo.gov/fdsys/pkg/FR-
09/29/2017. The FAQs may be viewed at: 2018-03-13/pdf/2018-05011.pdf. Federal Register,
https://www.fincen.gov/sites/default/files/2018- Vol. 83, No. 49, 03/13/2018, 10785.
04/FinCEN_Guidance_CDD_FAQ_FINAL_508_2.p
df.
Treasury Issues Correction to Arbitrage
OFAC Makes Changes to Lists. Guidance for Tax-Exempt Bonds.

The Office of Foreign Assets Control (OFAC) has Treasury has issued a correction to final regulations
amended its lists of Specially Designated Global related to arbitrage restrictions under section 148 of
Terrorists, Specially Designated Nationals and the Internal Revenue Code applicable to tax-exempt
Blocked Persons, and Specially Designated Narcotics bonds and other tax-advantaged bonds issued by
Trafficker Kingpins. The documents listing these State and local governments originally published in
changes may be viewed at: the Federal Register on 07/18/2016. The correction is
www.treas.gov/offices/enforcement/ofac/actions. effective 04/03/2018. The notice may be viewed at:
https://www.gpo.gov/fdsys/pkg/FR-2018-04-
03/pdf/2018-06704.pdf. Federal Register, Vol. 83,
Treasury Finalizes Inflation Adjustments No. 64, 04/03/2018, 14175.
to Civil Monetary Penalties.
Treasury Issues 2018 TRIP Data Call.
The Department of the Treasury (Treasury) issued a
final rule that implements inflation adjustments to Treasury has directed insurers that participate in the
civil money penalties that are within Treasury’s Terrorism Risk Insurance Program (TRIP) to submit
authority to impose. The final rule is effective information for the 2018 TRIP Data Call for the
03/19/2018. The notice may be viewed at: reporting period from 01/01/2017 to 12/31/2017.
https://www.gpo.gov/fdsys/pkg/FR-2018-03- Participating insurers are directed to register and
19/pdf/2018-05550.pdf. Federal Register, Vol. 83, report information in a series of forms available on
No. 53, 03/19/2018, 11876-11881. the TRIP website. All insurers writing commercial
property and casualty insurance in lines subject to
Treasury Issues Notice of Change in TRIP are required to respond to the data call no later
Numismatic Customer Return Policy. than 05/15/2018, subject to certain exceptions
identified in the notice.
Treasury has modified its Numismatic Customer https://www.gpo.gov/fdsys/pkg/FR-2018-04-
Return Policy to address the issue of excessive 05/pdf/2018-06996.pdf. Federal Register, Vol. 83,
returns. Effective immediately, the United States No. 66, 04/05/2018, 14718-14721.

APRIL 2018
13