Fiscal Service June 17, 2010 – Federal Register Recent Federal Regulation Documents

Federal law requires that, unless waived by the Secretary of the Treasury (Secretary), all Federal payments, other than payments made under the Internal Revenue Code of 1986, must be made electronically, that is, by electronic funds transfer (EFT). Direct deposit is the primary method that the Federal Government uses to make EFT payments. The Department of the Treasury (Treasury), Financial Management Service (FMS), is proposing to amend its regulation that describes the responsibilities of Federal agencies and recipients with respect to the electronic delivery of Federal payments and establishes the circumstances under which waivers from the EFT requirement are available.