1. Explain the circumstances that make this collection of information necessary. Identify any legal or administrative requirements that necessitate the collection.
The information is necessary to support a request for substitute savings bonds in lieu of bonds that were purchased and not received.
2. Indicate how, by whom and for what purpose is this information used?
The information on the completed form is used by the Department of the Treasury, Bureau of the Public Debt to identify the securities involved and to establish the authority to issue substitute securities or payment in lieu thereof. Without the information, the transaction cannot be completed.
3. Describe whether, and to what extent, the collection of information involves the use of automated, electronic, mechanical, or other technological collection techniques or other forms of information technology? What consideration is given to use information technology to reduce burden?
The form is available from the Bureau of the Public Debt and also on the Internet as a fill-in PDF form.
4. Describe efforts are used to identity duplication? Why can’t any similar information already available be used or modified for use for the purposes described in Item 2 above?
The form is reviewed annually to assure duplicate information is not requested.
5. If this collection of information impacts small businesses or other small entities, what methods are used to minimize burden?
This collection of information does not impact small business or other small entities.
6. What consequences to Federal program or policy activities and what, if any, technical or legal obstacles to reducing burden will occur if this collection is not conducted or is conducted less frequently?
N/A
7. Is this collection of information conducted in a manner consistent with the guidelines of 5 CFR 1320.6?
The collection of information cannot be conducted less frequently because the collection is initiated for a single purpose.
8. What effort was made to notify the general public about this collection of information?
The Bureau’s notice was published in the Federal Register on June 27, 2012, page 38394. No comments were received.
9. What decision was made to provide any payment or gift to respondents, other than reenumeration of contractors or grantees?
N/A
10. What assurance of confidentiality was provided to respondents and what was the basis for the assurance in statute, regulations, or agency policy?
In accordance with the Privacy Act of 1974, information furnished by the public will be kept confidential to the extent permitted by law.
11. What justification is there for questions of a sensitive nature?
There are no questions of a sensitive nature.
12. What is the estimated hour burden of this collection of information?
The average time needed is 10 minutes per response multiplied by the estimated number of responses (15,000) reflects the total burden of 2,500 hours.
13. What is the estimated total annual cost burden to respondents or recordkeepers resulting from this collection of information?
Estimated cost burden to respondents is not available at this time, but will be provided when available.
14. What is the annualized cost to the Federal Government?
The following factors were used to estimate the annual burden to this agency:
Printing cost - estimated number of forms printed annually, multiplied by the unit cost of the forms.
Case processing cost – estimated number of forms completed, multiplied by a percentage of the unit cost of case processing.
Forms management cost - salary cost of forms management personnel.
Printing Cost 15,000@ $20.00/M = $ 300
Case Processing Cost: 15,000 1.50/form = 22,500
Forms Management Cost = 500.
Total Cost $ 23,300.
15. What is the reason for any program changes or adjustments reported in Items 13 or 14 of the OMB Form 83-I?
The form is used to request a substitute savings bonds purchased in paper form. The sale of paper savings bonds ceased at the end of 2011 so a decline in the use of the form is anticipated. The reduction of 1,675 burden hours is a program change due to agency discretion for a total of 2,500 hours requested.
16. For collections of information whose results will be published, outline plans for tabulation and publication.
The results of the collection of this information will not be published for statistical use.
17. If seeking approval to not display the expiration date for OMB approval of this information collection, what are the reasons that the display would be inappropriate?
The public interest will be better served by not displaying an expiration date on Form PD F 3062-4. The time period during which the current edition of the form will continue to be usable cannot be predicted. It could easily span several cycles of review and OMB clearance renewal. Displaying the expiration date would make it necessary to update the electronic form and website where it is accessed after each renewal. Additionally, not displaying the expiration date on the form will avoid confusion among members of the public who may have identical forms with different expiration dates in their possession. By not displaying the expiration date, supplies of the form could continue to be used regardless of when the OMB approval has expired. This would reduce costs incurred through additional printing and desktop publishing.
18. What are the exceptions to the certification statement?
There are no exceptions to the certification statement.
B. This collection does not employ statistical methods.
| File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| Author | ATF |
| File Modified | 0000-00-00 |
| File Created | 2021-01-30 |