Customer Research of Matured Unredeemed Savings Bonds Holders

Forms and Documents

Document Name	Status
Part A_MUD Customer Research_2021Apr08.docx Supporting Statement A	2021-04-08
Emergency Justification Memo to OMB_MUD Research_2021Mar30.pdf Supplementary Document	2021-04-07
Part B_MUD Customer Research.docx Supporting Statement B	2021-04-06

IC Document Collections

IC ID	Document Title	Status
246684	Online Diary Study Other-Survey	New
246683	Online MUD Survey Other-Survey	New

ICR Details

OMB Control No:	ICR Reference No: 202104-1530-001
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: TREAS/FISCAL	Agency Tracking No:
Title: Customer Research of Matured Unredeemed Savings Bonds Holders
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Emergency	Approval Requested By: 04/12/2021
Date Submitted to OIRA: 04/08/2021

	Requested	Previously Approved
Expiration Date	6 Months From Approved
Responses	530	0
Time Burden (Hours)	185	0
Cost Burden (Dollars)	0	0

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Abstract: The Bureau of the Fiscal Service will conduct customer research to determine why individuals do not redeem savings bonds upon maturity, any barriers individuals encounter when they do attempt to redeem their bonds, and the feasibility of modifying redemption methods or developing alternative redemption methods in order to mitigate, overcome, or avoid any such barriers.

Emergency Justfication: On December 18, 2020, the President signed Executive Order 13968, Promoting Redemption of Savings Bonds. The Order, among other things, directs Treasury to conduct customer research to determine why individuals do not redeem savings bonds upon maturity, any barriers individuals encounter when they do attempt to redeem their bonds, and the feasibility of modifying redemption methods or developing alternative redemption methods in order to mitigate, overcome, or avoid any such barriers. The Order also directs that, the Secretary of the Treasury shall publish a report on actions and initiatives undertaken by the Department to implement this order within 6 months of the date of the Order. OMB approval to conduct the required research is needed prior to the normal time periods established in 5 CFR 1320.10 because of the urgent deadlines in the Order.

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Authorizing Statute(s): EO: EO 13968 Name/Subject of EO: Promoting Redemption of Savings Bonds
  

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

Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 2

IC Title	Form No.	Form Name
Online Diary Study
Online MUD Survey

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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	530	0	0	530	0	0
Annual Time Burden (Hours)	185	0	0	185	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: Yes

Burden Increase Due to: Miscellaneous Actions

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

Burden Reduction Due to:

Short Statement: This is a new collection.

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Annual Cost to Federal Government: $420,000

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.     No

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.     No

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: 04/08/2021

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