Direct Deposit Sign-Up Form

Forms and Documents

Document Name	Status
Form FS Form 5396 Direct Deposit Sign-Up Form Form and Instruction	Modified
Supporting Stmt_1530-0050_2020.docx Supporting Statement A	2020-10-09

IC Document Collections

IC ID	Document Title	Status
16679	Direct Deposit Sign-Up Form Form and Instruction	Modified

ICR Details

OMB Control No: 1530-0050	ICR Reference No: 202008-1530-001
Status: Received in OIRA	Previous ICR Reference No: 201706-1530-003
Agency/Subagency: TREAS/FISCAL	Agency Tracking No:
Title: Direct Deposit Sign-Up Form
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 10/28/2020

	Requested	Previously Approved
Expiration Date	36 Months From Approved	01/31/2021
Responses	24,000	55,000
Time Burden (Hours)	4,000	9,167
Cost Burden (Dollars)	0	0

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Abstract: Used to request the direct deposit of Series HH or Series H bond interest payments or a savings bond redemption payment.

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Authorizing Statute(s): US Code: 31 USC 31 Name of Law: null
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 31282	05/22/2020
30-day Notice:	Federal Register Citation:	Citation Date:
	85 FR 68414	10/28/2020
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Direct Deposit Sign-Up Form	FS Form 5396	Direct Deposit Sign-up Form

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	24,000	55,000	0	0	-31,000	0
Annual Time Burden (Hours)	4,000	9,167	0	0	-5,167	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The form in this collection is used to request direct deposit of interest and redemption payments from Series HH and Series H savings bonds. Bonds of this type have not been issued since August 2004 but continue to earn interest 20 years after issue date, therefore, the inventory of unredeemed bonds will continue to diminish until 2024. A reduction of 5,167 burden hours is a program change due to agency discretion for a total of 4,000 hours.

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Annual Cost to Federal Government: $36,644

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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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:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(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;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

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.

Certification Date: 10/28/2020

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