Fiscal Service 2010 – Federal Register Recent Federal Regulation Documents

For the period beginning January 1, 2011, and ending on June 30, 2011, the prompt payment interest rate is 2\5/8\ per centum per annum.

The Department of the Treasury (Treasury), Financial Management Service (FMS), is amending its regulation to require recipients of Federal nontax payments to receive payment by electronic funds transfer (EFT), effective May 1, 2011. The effective date is delayed until March 1, 2013, for individuals receiving Federal payments by check on May 1, 2011; and for individuals who file claims for Federal benefits before May 1, 2011, and request check payments when they file. Individuals who do not choose direct deposit of their payments to an account at a financial institution would be enrolled in the Direct Express[supreg] Debit MasterCard[supreg] card program, a prepaid card program established pursuant to terms and conditions approved by FMS. Treasury waives the EFT requirement for recipients born prior to May 1, 1921, who are receiving payments by paper check on March 1, 2013; for payments not eligible for deposit to a Direct Express[supreg] prepaid card account; and for recipients whose Direct Express[supreg] card has been suspended or cancelled. In addition, this rule establishes the criteria under which a payment recipient may request a waiver if the EFT requirement creates a hardship due to his or her mental impairment or remote geographic location.

Treasury's retail electronic systems for holding Treasury marketable securities began with the goal of permitting investors to buy and hold marketable Treasury securities until maturity. As a cost- saving measure, Treasury is returning the Legacy Treasury Direct and TreasuryDirect systems to this initial vision by eliminating the SellDirect program that permits investors to sell their marketable securities on the open market through a Federal Reserve Bank. Investors will now need to transfer a marketable security to a broker or financial institution in order to effect a sale of the security prior to maturity.

The Financial Management Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on a continuing information collection. By this notice, the Financial Management Service solicits comments concerning the ``Tax Time Card Account Pilot Screening, Focus Groups, and Study.''

The Department of the Treasury (Treasury) is announcing a new fee schedule applicable to transfers of U.S. Treasury book-entry securities maintained on the National Book-Entry System (NBES) that occur on or after January 3, 2011.

This is Supplement No. 4 to the Treasury Department Circular 570, 2010 Revision, published July 1, 2010, at 75 FR 38192.

This is Supplement No. 3 to the Treasury Department Circular 570, 2010 Revision, published July 1, 2010, at 75 FR 38192.

Treasury is discontinuing the issuance of definitive (paper) savings bonds through payroll savings plans.

This is Supplement No. 1 to the Treasury Department Circular 570, 2010 Revision, published July 1, 2010, at 75 FR 38192.

This is Supplement No. 19 to the Treasury Department Circular 570, 2009 Revision, published July 1, 2009, at 74 FR 31536.

For the period beginning July 1, 2010, and ending on December 31, 2010, the prompt payment interest rate is 3\1/8\ per centum per annum.

This is Supplement No. 14 to the Treasury Department Circular 570, 2009 Revision, published July 1, 2009, at 74 FR 31536.

This is Supplement No. 15 to the Treasury Department Circular 570, 2009 Revision, published July 1, 2009, at 74 FR 31536.

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.

The Department of the Treasury, Financial Management Service (Service) is proposing to amend our regulation governing the use of the Automated Clearing House (ACH) system by Federal agencies. Our regulation adopts, with some exceptions, the ACH Rules developed by NACHAThe Electronic Payments Association (NACHA) as the rules governing the use of the ACH Network

This is Supplement No. 12 to the Treasury Department Circular 570, 2009 Revision, published July 1, 2009, at 74 FR 31536.

This is Supplement No. 10 to the Treasury Department Circular 570, 2009 Revision, published July 1, 2009, at 74 FR 31536.

Treasury, SSA, VA, RRB and OPM (Agencies) are publishing for comment a proposed rule to implement statutory restrictions on the garnishment of Federal benefit payments. The Agencies are taking this action in response to recent developments in technology and debt collection practices that have led to an increase in the freezing of accounts containing Federal benefit payments. The proposed rule would establish procedures that financial institutions must follow when a garnishment order is received for an account into which Federal benefit payments have been directly deposited. The proposed rule would require financial institutions that receive a garnishment order for an account to determine whether any Federal benefit payments were deposited to the account within 60 calendar days prior to receipt of the order and, if so, would require the financial institution to ensure that the account holder has access to an amount equal to the sum of such payments in the account or to the current balance of the account, whichever is lower.

This is Supplement No. 9 to the Treasury Department Circular 570, 2009 Revision, published July 1, 2009, at 74 FR 31536.

This is Supplement No. 6 to the Treasury Department Circular 570, 2009 Revision, published July 1, 2009, at 74 FR 31536.

The Financial Management Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on a continuing information collection. By this notice, the Financial Management Service solicits comments concerning the ``Final Rule Management of Federal Agency Disbursements''.

The Financial Management Service, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on a continuing information collection. By this notice, the Financial Management Service solicits comments concerning the form ``Assignment Form.''

The Department of the Treasury, Financial Management Service published a document in the Federal Register on Monday, December 28, 2009. That document inadvertently contained incorrect dates in the rule. This document corrects those dates.