31 C.F.R. § 203.4 Designation of financial institutions as Treasury Tax and Loan depositaries.
Title 31 - Money and Finance: Treasury
(a) Parties to the agreement. To be designated as a TT&L depositary, a financial institution shall enter into a depositary agreement with Treasury's fiscal agent, the FRB. By entering into this agreement, the financial institution agrees to be bound by this part, and procedural instructions issued pursuant to this part. (b)(1) Application procedures. An eligible financial institution seeking designation as a depositary and, thereby, the authority to maintain a TT&L account and/or a note balance shall file with the FRB, Financial Management Service Form 458, “Financial Institution Agreement and Application for Designation as a TT&L Depositary,” and Financial Management Service Form 459, “Resolution Authorizing the Financial Institution Agreement and Application for Designation as a TT&L Depositary,” certified by its board of directors. Financial Management Service Forms 458 and 459 are available upon request from the FRB of the district. (2) Depositaries processing tax payments in the FTD system are required to elect either the remittance or the note option. (c) Designation. Each financial institution satisfying the eligibility requirements and the application procedures will receive from the FRB notification of its specific designation as a TT&L depositary. A financial institution is not authorized to maintain a TT&L account or note balance until it has been designated as a TT&L depositary by the FRB.
Title 31: Money and Finance: Treasury
PART 203—PAYMENT OF FEDERAL TAXES AND THE TREASURY TAX AND LOAN PROGRAM
Subpart A—General Information
§ 203.4 Designation of financial institutions as Treasury Tax and Loan depositaries.
