Complementary Reinsurers and Alien Reinsurers

Forms and Documents

Document Name	Status
Form Not Assigned Annual Renewal for Complementary Reinsurers and Alien Reinsurers Form and Instruction	New
Form Not Assigned Initial Application for Complementary Reinsurers and Alien Reinsurers Form and Instruction	New
1530-NEW_Supporting Statement_v3.docx Supporting Statement A	2022-01-19

IC Document Collections

IC ID	Document Title	Status
252082	Annual Renewal for Complementary Reinsurers and Alien Reinsurers Form and Instruction	New
249763	Initial Application for Complementary Reinsurers and Alien Reinsurers Form and Instruction	New

ICR Details

OMB Control No:	ICR Reference No: 202110-1530-002
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: TREAS/FISCAL	Agency Tracking No:
Title: Complementary Reinsurers and Alien Reinsurers
Type of Information Collection: New collection (Request for a new OMB Control Number)	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 03/10/2022

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	142	0
Time Burden (Hours)	408	0
Cost Burden (Dollars)	0	0

---

Abstract: Proposed changes to 31 CFR, Part 223 add two new categories of companies that can receive recognition from Treasury as a complementary reinsurer or alien reinsurer and create a new collection of information. The collection of information will be necessary when a company applies for recognition by Treasury as a complementary or alien reinsurer or annual renewal of such recognition. The proposed changes require companies applying for initial recognition as a complementary reinsurer to submit to Treasury all information provided by the company or by the supervisory authority of the company’s domiciliary jurisdiction to any U.S. state regulator in the two most recently completed calendar years. For renewal of such recognition, companies will submit all semi-annual and annual filing information provided by the company or by the supervisory authority of the company’s domiciliary jurisdiction to any U.S. state regulator in the most recently completed calendar year. Companies applying for initial recognition as an alien reinsurer will submit to Treasury all information provided to any U.S. state regulator in the two most recently completed calendar years. For renewal of such recognition, companies will submit all annual filing information provided to any U.S. state regulator in the most recently completed calendar year.

---

Authorizing Statute(s): US Code: 31 USC Sections 9304-9308
  

Citations for New Statutory Requirements: None

---

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1530-AA20	Proposed rulemaking	87 FR 12003	03/03/2022

---

Federal Register Notices & Comments

Did the Agency receive public comments on this ICR? No

---

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

IC Title	Form No.	Form Name
Annual Renewal for Complementary Reinsurers and Alien Reinsurers	Not Assigned, Not Assigned	Application/Renewal for Recognition as a Complementary Reinsurer ,   Application/Renewal for Recognition as a Alien Reinsurer
Initial Application for Complementary Reinsurers and Alien Reinsurers	Not Assigned, Not Assigned	Application/Renewal for Recognition as a Complementary Reinsurer ,   Application/Renewal for Recognition as a Alien Reinsurer

---

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	142	0	0	142	0	0
Annual Time Burden (Hours)	408	0	0	408	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: Changing Regulations

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

Burden Reduction Due to:

Short Statement: This is a new collection.

---

Annual Cost to Federal Government: $2,800,107

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

---

Common Form ICR:  No

---

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: 03/10/2022

---