{"data":{"id":"us/12-cfr-313.123","jurisdiction":"us","citation":"12 CFR 313.123","heading":"Certification and referral of debt.","body":"When the FDIC refers a past-due, legally enforceable debt to FMS for tax refund offset, it will certify to FMS that:\n(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;\n(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;\n(c) The FDIC has made reasonable efforts to obtain payment of the debt, in that it has:\n(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;\n(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;\n(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\n(4) Provided the debtor with an opportunity to make a written agreement to repay the debt; and\n(d) The debt is at least $25.","path":["Title 12—Banks and Banking","CHAPTER III—FEDERAL DEPOSIT INSURANCE CORPORATION","SUBCHAPTER A—PROCEDURE AND RULES OF PRACTICE","PART 313—PROCEDURES FOR COLLECTION OF CORPORATE DEBT, CRIMINAL RESTITUTION DEBT, AND CIVIL MONEY PENALTY DEBT","Subpart E—Tax Refund Offset"],"source_url":"https://www.ecfr.gov/api/versioner/v1/full/2026-08-25/title-12.xml","current_through":"2026-08-25","vintage":"","retrieved_at":"2026-08-27T02:24:16Z","sha256":"de2bbb440ee5889347425f3303724d8e4bf34a8327fc70f100e5fe8cc6be6877","source_id":"us-cfr","stale":true,"prev":"us/12-cfr-313.122","next":"us/12-cfr-313.124"},"notice":"GroundRules: Original legal text. Not legal advice."}