§ 313.122 Notification of debt to FMS.

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Title 12 CFR: Banks and Banking › Chapter III: FEDERAL DEPOSIT INSURANCE CORPORATION › Part 313: PROCEDURES FOR COLLECTION OF CORPORATE DEBT, CRIMINAL RESTITUTION DEBT, AND CIVIL MONEY PENALTY DEBT › Subpart E: Tax Refund Offset › § 313.122: § 313.122 Notification of debt to FMS.

This text was captured on Aug 14, 2026. It is a snapshot, not a live feed, so check the official code before relying on it.

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The FDIC shall notify FMS of the amount of any past due, legally enforceable non-tax debt owed to it by a person, for the purpose of collecting such debt by tax refund offset. Notification and referral to FMS of such debts does not preclude FDIC's use of any other debt collection procedures, such as wage garnishment, either separately or in conjunction with tax refund offset.

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