View Rule

View EO 12866 Meetings

Printer-Friendly Version Download RIN Data in XML

TREAS/FMS

RIN: 1510-AB26

Publication ID: Fall 2010

Title: Management of Federal Agency Disbursements
Abstract: The Department of the Treasury, Financial Management Service (FMS), is amending 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 electronic funds transfer (EFT) requirement are available. Federal law requires that, unless waived by the Secretary of the Treasury, all Federal payments, other than payments made under the Internal Revenue Code of 1986, must be made electronically, that is, by EFT. The rule generally requires individuals to receive Federal nontax payments by EFT, effective March 1, 2011. Individuals receiving Federal payments by check on the effective date, however, may continue to do so until February 28, 2013. For Federal benefit recipients, this means that individuals who apply for Federal benefits on or after January 1, 2011, would receive their benefit payments by direct deposit. Individuals who do not choose direct deposit of their payments to an account at a financial institution would be enrolled in the Direct Express® Debit MasterCard® card program, a prepaid card program established pursuant to terms and conditions approved by FMS. Beginning on March 1, 2013, all recipients of Federal benefit and other non-tax payments would receive their payments by direct deposit, either to a bank account or to a Direct Express® card account.
Agency: Department of the Treasury(TREAS)	Priority: Economically Significant
RIN Status: Previously published in the Unified Agenda	Agenda Stage of Rulemaking: Final Rule Stage
Major: Yes	Unfunded Mandates: No
CFR Citation: 31 CFR 208
Legal Authority: 5 USC 301 12 USC 90 12 USC 265 and 266 12 USC 1767 and 1789a 31 USC 321 31 USC 3122 31 USC 3301 to 3303 31 USC 3321 31 USC 3325 31 USC 3327 and 3328 31 USC 3332 31 USC 3335 and 3336 31 USC 6503 PL 104-208, 110 Stat 3009

Legal Deadline: None

Timetable:

Action	Date	FR Cite
NPRM	06/17/2010	75 FR 34394
NPRM Comment Period End	08/16/2010
Final Action	12/00/2010
Final Action Effective	01/00/2011

Regulatory Flexibility Analysis Required: No	Government Levels Affected: Federal
Federalism: No
Included in the Regulatory Plan: No
RIN Data Printed in the FR: No
Related RINs: Merged with 1510-AB13
Agency Contact: Walt Henderson Director, EFT Strategy Division Department of the Treasury Financial Management Service Room 337, 401 14th Street SW., Washington, DC 20227 Phone:202 874-6619 Email: eft.comments@fms.treas.gov Michelle Cordeiro Senior Counsel 401 14th Street SW., Washington, DC 20227 Phone:202 874-6680 Email: michelle.cordeiro@fiscal.treasury.gov