House Oversight — Estate records
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From: Richard Kahn
Sent: 2/15/2017 7:04:23 PM
To: jeffrey E. [jeevacation@gmail.com]
Subject: Fwd: Alert - TIC Form SHC Deadline Approaching
Importance: High
not sure if this applies to Leon
The reporting threshold for Schedule 2 is $200 million in total fair value of all foreign securities owned
by the SHC Reporter and not held with a U.S.-resident custodian
r
HOUSE OVERSIGHT 026663
REGULATORY & COMPLIANCE ALERT
FEBRUARY 15, 2017
TIC Form SHC Deadline Approaching - Form Deadline is
March 3, 2017
The U.S. Department of the Treasury recently released a revised Form SHC. Form SHC, which is part of
the Treasury International Capital ("TIC") data reporting system, is the mandatory five-year benchmark
survey of the ownership of foreign securities by U.S. residents. Absent an announcement of a delay
from the Trump administration, the report is due to the Federal Reserve Board of NY ("FRBNY") by March
3, 2017 for data reportable as of December 31, 2016.
HOUSE OVERSIGHT 026664
All U.S. resident custodians and end-investors with holdings of foreign portfolio securities above the
reporting thresholds must report. In addition, all U.S.-resident custodians and end-investors that are
notified by the FRBNY are required to file a report.
The reporting threshold for Schedule 2 is $200 million in total fair value of all foreign securities owned
by the SHC Reporter and not held with a U.S.-resident custodian. The reporting threshold for Schedule
3 is $200 million in total fair value of foreign securities held with any one unaffiliated U.S.-resident
custodian that is not a central securities depository.
Custodians are all organizations that hold securities in safekeeping for other organizations. Most U.S.-
resident custodians also invest in foreign securities for their own account. U.S.-resident custodians
should report both the foreign portfolio securities held in safekeeping for other U.S. residents and their
own foreign portfolio securities.
End-invest
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