OFAC Sanctions Compliance Program (SCP) for Permitted Payment Stablecoin Issuers (PPSIs)

Forms and Documents

Document Name	Status
Genius NPRM OFAC SCP PRA Supporting Statement 2026-04-01.docx Supporting Statement A	2026-04-10

IC Document Collections

IC ID	Document Title	Status
279926	Recordkeeping - Sanctions Compliance Testing and Auditing Results	New

ICR Details

OMB Control No:	ICR Reference No: 202604-1505-001
Status: Received in OIRA	Previous ICR Reference No:
Agency/Subagency: TREAS/DO	Agency Tracking No:
Title: OFAC Sanctions Compliance Program (SCP) for Permitted Payment Stablecoin Issuers (PPSIs)
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: 04/10/2026

	Requested	Previously Approved
Expiration Date	36 Months From Approved
Responses	50	0
Time Burden (Hours)	100	0
Cost Burden (Dollars)	0	0

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Abstract: This information collection request is submitted to request approval by the Office of Management and Budget (OMB) for a new OMB control number for the specific, new information collection and recordkeeping requirements for permitted payment stablecoin issuers (PPSI). PPSIs will be required to maintain an effective sanctions compliance program (SCP) under a proposed rulemaking to implement provisions of the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act), 12 U.S.C. 5901–5916, of July 18, 2025, issued jointly by the Office of Foreign Assets Control (OFAC) and the Financial Crimes Enforcement Network (FinCEN) within the Department of the Treasury. Pursuant to the GENIUS Act, OFAC is proposing new regulations that would add a new part 502 under 31 CFR chapter V. Section 502 would set forth the recordkeeping, reporting and other information collection requirements for PPSIs to develop and maintain an effective SCP. Even though the SCP will require five categories of elements, only internal controls (maintaining a copy of PPSI’s SCP in writing to be made available to OFAC upon request and providing a PPSI certification to OFAC upon request) and maintaining the records of results from testing and auditing and any enhancements identified for the SCP will be covered by this information collection. However, the internal controls time and cost burden are part of overall anti-money laundering/counter-terrorist financing (AML/CFT) internal controls and are therefore accounted for under FinCEN’s requested new OMB control number 1506-XXXX. Other information collection and recordkeeping requirements pursuant to any OFAC sanctions program are approved by OMB under control number 1505-0164 and contained in § 501.901 of OFAC’s Reporting, Procedures and Penalties Regulations (31 CFR part 501), which pertains to the operation of the various economic sanctions programs administered by OFAC under 31 CFR chapter V.

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Authorizing Statute(s): US Code: 12 USC 5901-5916 Name of Law: Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act)
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1506-AB73	Proposed rulemaking	91 FR 18582	04/10/2026

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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: 1

IC Title	Form No.	Form Name
Recordkeeping - Sanctions Compliance Testing and Auditing Results

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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	50	0	0	50	0	0
Annual Time Burden (Hours)	100	0	0	100	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: OFAC is seeking a new OMB control number to add information collection requirements for a sanctions compliance program for Permitted Payment Stablecoin Issuers contained in 31 CFR part 502 in a joint proposed rule with FinCEN to implement the requirements of the Genius Act. Overall, the estimated number of total responses in this information collection and the burden for the entire information collection is expected to have minimal initial costs for the SSPIs adjusting for any updates to PPSIs sanctions controls and should lead to time and cost savings for PPSIs over time as the sanctions compliance program is just maintained.

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Annual Cost to Federal Government: $0

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: 04/10/2026

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