# 12 C.F.R. § 313.123 (2026): Certification and referral of debt

> Federal · Regulations · In force

URL: https://www.frixlaw.com/law-library/statutes/CFR_T12_P313_S313_123

## Section

- **Citation:** 12 C.F.R. § 313.123 (2026)
- **Heading:** Certification and referral of debt
- **Jurisdiction:** Federal
- **Kind:** Regulations
- **Status:** In force
- **Text as of:** August 14, 2026
- **Source:** Compiled text
- **Location:** 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 / § 313.123: § 313.123   Certification and referral of debt.

## Text

When the FDIC refers a past-due, legally enforceable debt to FMS for tax refund offset, it will certify to FMS that:
(a) The debt is past due and legally enforceable in the amount submitted to FMS and that the FDIC will ensure that collections are properly credited to the debt;
(b) Except in the case of a judgment debt or as otherwise allowed by law, the debt is referred for offset within ten years after the FDIC's right of action accrues;
(c) The FDIC has made reasonable efforts to obtain payment of the debt, in that it has:
(1) Submitted the debt to FMS for collection by administrative offset and complied with the provisions of 31 U.S.C. 3716(a) and related regulations;
(2) Notified, or has made a reasonable attempt to notify, the debtor that the debt is past-due, and unless repaid within 60 days after the date of the notice, will be referred to FMS for tax refund offset;
(3) Given the debtor at least 60 days to present evidence that all or part of the debt is not past-due or legally enforceable, considered any evidence presented by the debtor, and determined that the debt is past-due and legally enforceable; and
(4) Provided the debtor with an opportunity to make a written agreement to repay the debt; and
(d) The debt is at least $25.

## Nearby sections

- [12 C.F.R. § 313.120 (2026) § 313.120   Scope.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P313_S313_120.md)
- [12 C.F.R. § 313.121 (2026) § 313.121   Definitions.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P313_S313_121.md)
- [12 C.F.R. § 313.122 (2026) § 313.122   Notification of debt to FMS.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P313_S313_122.md)
- [12 C.F.R. § 313.123 (2026) § 313.123   Certification and referral of debt.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P313_S313_123.md)
- [12 C.F.R. § 313.124 (2026) § 313.124   Pre-offset notice and consideration of evidence.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P313_S313_124.md)
- [12 C.F.R. § 313.125 (2026) § 313.125   No requirement for duplicate notice.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P313_S313_125.md)
- [12 C.F.R. § 313.126 (2026) § 313.126   Referral of past-due, legally enforceable debt.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P313_S313_126.md)
- [12 C.F.R. § 313.127 (2026) § 313.127   Correcting and updating referral.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P313_S313_127.md)
- [12 C.F.R. § 313.128 (2026) § 313.128   Disposition of amounts collected.](https://www.frixlaw.com/law-library/statutes/CFR_T12_P313_S313_128.md)

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Source: Frix Law Library, https://www.frixlaw.com/law-library/statutes/CFR_T12_P313_S313_123. Check the current official text before relying on it. Not legal advice.