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OMB Control No: 1505-0230	ICR Reference No: 201201-1505-002
Status: Historical Inactive	Previous ICR Reference No: 201102-1505-003
Agency/Subagency: TREAS/DO	Agency Tracking No:
Title: Garnishment of Accounts Containing Federal Benefit Payments
Type of Information Collection: Revision of a currently approved collection	Common Form ICR: No
Type of Review Request: Regular
OIRA Conclusion Action: Preapproved	Conclusion Date: 05/17/2013
	Date Received in OIRA: 03/07/2013
Terms of Clearance:

	Inventory as of this Action	Requested	Previously Approved
Expiration Date	05/31/2016	36 Months From Approved	02/28/2014
Responses	140,000	0	565,000
Time Burden (Hours)	24,167	0	130,417
Cost Burden (Dollars)	0	0	0

Abstract: Several Agencies are publishing a regulation to implement statutory restrictions on the garnishment of Federal benefit payments. Social Security benefits, Supplemental Security Income benefits, Veterans benefits and Federal Civil Service retirement benefits are exempt under Federal Law from garnishment orders. The intent of the Agencies is to address the hardships that recipients of federal benefits are encountering when financial institutions freeze an account and the difficulties that financial institutions have in determining whether funds deposited in an account are exempt from garnishment. The proposed rule establishes straightforward, uniform procedures that financial institutions must follow when a garnishment order is received for an account into which Federal benefit payments have been directly deposited. Financial institutions that comply with the required procedures are given a safe harbor under the rule. The rule requires a financial institution to review the account, to determine if any exempt benefit payments have been directly deposited within the 60 calendar days prior to the receipt of the garnishment order, and, if so, requires the financial institution to ensure that the account holder has access to a protected amount of funds in the account. Once the account review is completed the financial institution must notify the accountholder of the receipt of the garnishment order and provide certain additional information. In addition, a financial institution must maintain certain records of account activity and actions taken in response to garnishment orders sufficient to demonstrate compliance with the rule.

Authorizing Statute(s): US Code: 12 USC 1818 Name of Law: Federal Deposit Insurance Act
US Code: 12 USC 1786 Name of Law: Federal Credit Union Act

Citations for New Statutory Requirements: None

Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
1505-AC20	Final or interim final rulemaking

Federal Register Notices & Comments
Did the Agency receive public comments on this ICR? No

ICR Summary of Burden

	Total Request	Previously Approved	Change Due to Agency Discretion
Annual Number of Responses	140,000	565,000	-425,000
Annual Time Burden (Hours)	24,167	130,417	-106,250
Annual Cost Burden (Dollars)	0	0	0

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

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Changing Regulations

Short Statement: Treasury is reducing the burden estimate for producing the notice to reflect that fewer notices will be sent.

Annual Cost to Federal Government:

Does this IC contain surveys, censuses, or employ statistical methods? No

Is the Supporting Statement intended to be a Privacy Impact Assessment required by the E-Government Act of 2002? 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? Uncollected

Agency Contact: Barbara Wiss 2026225034

View ICR - OIRA Conclusion