Cash and Check Deposits

Requirements for Using Depositaries to Hold Public Money

Overview

Scope and Applicability

This guidance is being issued to ensure Federal agencies:

Comply with all statutes regarding public money;

Collateralize all public money; and

Report properly all public money held outside of the U.S. Treasury on all financial statements.

Authority

31 United States Code (U.S.C.) 321, 3302-3304, 3327, 3336; 12 U.S.C. 90, 265-266, 332, 391, 1434, 1452(d), 1464(k), 1767, 1789a, 2013, 2122, and 3101-3102; and 31 Code of Federal Regulations (CFR) Parts 202 and 206 provide the authority for this chapter.

Guidance

Federal agencies receiving public money from any source are statutorily required to deposit these funds into the U.S. Treasury, unless otherwise specifically authorized by law. Consequently, Federal agencies may not hold public money outside of the U.S. Treasury without specific statutory authority to do so. Federal agencies without specific statutory authority to hold public money outside of the U.S. Treasury must deposit all public money into an account in the name of the U.S. Treasury using one of the various mechanisms established by the Department of the Treasury, including, but not limited to, the Treasury General Account Network (TGA Network), General Lockbox Network, and Pay.gov. Please refer to the section below about depositing domestic checks and cash received in over the counter collections, which provides instructions for Federal agencies to deposit domestic checks and cash.

In rare cases, a Federal agency may have statutory authority to hold money without depositing it to the U.S. Treasury or into an account at a depositary designated by the Department of the Treasury. However, the agency still must report these funds on its monthly Statement of Transactions (224) and in its audited financial statements. Please refer to Volume I, Part 2, Chapter 3400, Accounting for and Reporting on Cash and Investments Held Outside of the U.S. Treasury, which provides accounting and reporting policies and procedures on cash not deposited in a Treasury General Account and investments in non-Federal securities.

Except as noted below, Federal agencies holding public money outside of the U.S. Treasury pursuant to specific statutory authority are required to place such public funds at a financial institution that the Secretary of the Treasury has designated as a depositary and financial agent of the Federal Government. See 31 CFR Part 202. These Federal agencies must hold such funds in an official account other than an account in the name of the U.S. Treasury. They must comply with all Federal regulations and TFM policies, procedures, and instructions governing public money held outside of the U.S. Treasury and the use of depositaries to hold public money. For example, Federal agencies holding funds in an account at a depositary are responsible for the following:

Ensuring that acceptable collateral is pledged to secure the public money on deposit in excess of recognized insurance coverage (refer to Volume I, Part 6, Chapter 9000, Securing Government Deposits in Federal Agency Accounts, which describes Federal agency requirements for securing public money on deposit at depositaries); and

Properly reporting funds held in accounts at designated depositaries on their monthly Statement of Transactions (224) or other designated accounting reports, and in their audited financial statements.

Additional Guidance

As stated above, Federal agencies must have statutory authority to hold public money outside of the U.S. Treasury. If a Federal agency experiences exceptional circumstances requiring a specific need to hold public money outside of the U.S. Treasury and, after consulting with agency counsel, is unsure whether it has the requisite statutory authority, the agency can request guidance from Fiscal Service in determining whether, and under what conditions, it may hold funds outside of the U.S. Treasury.

The agency's request for guidance should:

Be written;

Provide detailed information about the nature of the funds and where the funds will be held;

Provide the statutory basis that the agency believes may permit it to hold public money outside of the U.S. Treasury; and

Provide an analysis of other options and why they fail to meet the agency's needs.

Agencies should send requests for guidance to Fiscal Service's Bank Policy and Oversight Division (see Contacts). Fiscal Service will provide guidance on a case-by-case basis. Agencies must provide Fiscal Service with written notice of any subsequent changes to the statutory basis of any request for which Fiscal Service provided guidance.

Agency Depository Requirements

Accounts of Agency Contractors

Unless an agency has specific statutory authorization, the general statutory requirement that Federal entities must deposit all public money into the U.S. Treasury does not permit Federal entities to deposit public money into a bank account of an agency contractor or vendor. This rule applies irrespective of whether the funds subsequently would be transferred into the U.S. Treasury. The rule applies equally to Federal agency contractors providing payment assistance and similarly prohibits agencies from depositing funds into a contractor or vendor account for subsequent disbursement. For example, a Federal agency must make payments directly to the USPS for postage and may not place public money in a postal vendor's account to be used for postage payment.

Fiscal Sevice Assistance

The Bureau of the Fiscal Service (Fiscal Service) will assist Federal agencies with the appropriate mechanism for managing the inflow and outflow of public money. This discussion should occur prior to a Federal agency issuing a Request for Proposal for collecting or disbursing public money. Fiscal Service also establishes collateral accounts for Federal agencies to use for securing public money held outside of the U.S. Treasury.

Voucher Date, Deposit Date, and Funds Availability

Authority

31 U.S.C. § 321

Definitions of Voucher Date, Deposit Date, and Funds Availability Date

As provided by law, the Bureau of the Fiscal Service (Fiscal Service) can designate commercial financial institutions and Federal Reserve Banks to serve as depositaries and agents of the Government and to provide collection services to federal entities. This section refers to “depositaries” and “agents” interchangeably. Financial institutions that have been designated as depositaries or agents of the Government deposit all revenue that the Fiscal Service collects. All revenue collected through a depositary or an agent has a voucher date, a deposit date, and a funds availability date.

Voucher Date

The voucher date is the date that a federal entity's funds are credited to or to have been debited from a Department of the Treasury (Treasury) account. A federal entity uses this date for reconciliation with the Bureau of the Fiscal Service (Fiscal Service). Federal entities must treat this date as if it were the deposit date. Even in those situations where a federal entity is allowed to consider funds as deposited on the voucher date for accounting purposes, the actual deposit date is still used to determine the funds availability date.

Deposit Date

The deposit date is the banking date that a depositary or an agent credits funds to a Treasury account. A depositary or an agent uses this date for reconciliation with the Fiscal Service.

Funds Availability Date

The funds availability date is the banking date that deposited funds can be disbursed or otherwise withdrawn or transferred from a Department of the Treasury (Treasury) account at a depositary or an agent. The funds availability date can be early as the deposit date, but no earlier.

Definitions of Banking Date, Processing Date, and Bank Posting Date

The focus of this section is on voucher dates, deposit dates, and funds availability dates, but these dates are often expressed as banking dates and can be associated with processing dates and bank posting dates as well.

Banking Date

The banking date is that part of any calendar day that an office of a bank is open to the public for carrying on substantially all of its banking functions. The banking date excludes:

Saturdays and Sundays;

January 1;

The third Monday in January;

The third Monday in February;

The last Monday in May;

July 4;

The first Monday in September;

The second Monday in October;

November 11;

The fourth Thursday in November; and

December 25.

If January 1, July 4, November 11, or December 25 fall on a Sunday, the banking date also excludes the following Monday.

Processing Date

The processing date is the banking date that deposit processing occurs. For instance, if a bank processes a transaction on a given Monday after the banking date cutoff time, the processing date of the transaction is considered to be Tuesday.

Bank Posting Date

The bank posting date is the banking date that a depositary or an agent credits funds to or debits funds from a Treasury account. A depositary or an agent uses this date for reconciliation with the Fiscal Service. The deposit date is a type of bank posting date.

Resolution When Transactions Are Not Processed in a Timely Manner

If the Fiscal Service or its depositaries and agents are unable to process transactions in a timely manner, the Fiscal Service works with the affected federal agency or entities to address the problem. Among other things, this may include changing the voucher date associated with the transaction.

GLN - General Lockbox Network

Overview

Scope and Applicability

This chapter prescribes the procedures to be observed by all federal entities involved with the lockbox paper check and/or remittance processing (electronic or paper) of federal entity receipts.

Authority

See, inter alia, 12 U.S.C. § 90 “Depositaries of public moneys and financial agents of Government,” 12 U.S.C. § 265 “Insured banks as depositaries of public money; duties; security; discrimination between banks prohibited; repeal of inconsistent laws,” 12 U.S.C. § 266 “State-chartered banks and other institutions as depositaries of public money; fiscal agents; duties,” 31 U.S.C § 321 “General authority of the Secretary,” 31 U.S.C § 3301 “General duties of the Secretary of the Treasury,” and 31 U.S.C § 3720 “Collection of payments."

Background and Concepts

Treasury Lockbox processing is accomplished by Treasury designated financial agents that provide lockbox and remittance services to the Treasury on behalf of federal entities. The financial agents are strategically located to minimize mail, processing, and collection float. Remittances are mailed directly to a P.O. Box (lockbox) established by the financial agent to collect federal entity mail for processing. The lockbox accelerates the deposit of funds into the Treasury's account and provides secure, accurate, and efficient data capture of financial and remittance data.

Types of Lockbox Activity

There are three basic types of lockbox services available to federal entities:

  1. Wholesale Lockbox. A wholesale lockbox involves the multi-stage processing of invoice documents and is best suited for high-dollar, low-volume remittances. Data of key financial information is captured, and deposits via Electronic Check Processing (ECP) are processed and credited to the proper Agency Location Code (ALC), upon receipt of the materials at the lockbox site.
  2. Retail Lockbox. A retail lockbox uses machine readable documents for automated processing through optical character recognition (OCR) equipment. It is best suited for low to moderate dollar, high-volume remittances. High speed equipment captures specific remittance information upon receipt of payment documents at the lockbox site.
  3. Specialty Lockbox. Specialty lockboxes provide a range of intricate services in addition to lockbox processing services. Designated specialty lockbox financial agents provide collection and processing services to Treasury on behalf of agencies that administer major national level programs, such as those involving passport applications, healthcare payments, or immigration benefit requests. The additional special services provided include handling and processing identification documents; applying complex business, processing, and sorting rules; and interactingwith required federal entity internal systems.

IRS Lockbox Network

The IRS Lockbox Network consists of a limited number of financial agents that serve as collection points for various IRS taxes. The IRS Lockbox Network handles business master file (BMF) and individual master file (IMF) tax transactions. The financial agents process the tax receipts and transmit information to IRS service centers. The financial agents also send to IRS the original tax forms that accompanied the transactions.

Electronic Check Processing (ECP)

Since most mail transactions involve paper checks or money orders, Treasury lockboxes use the ECP system to automate deposits through the capture and conversion or truncation of checks. The Financial Agent (FA) opens the envelopes, and then digitally scans all associated checks to capture the electronic image of the checks. At this time, they would also scan any remittance data. The FAs then send all image and data files to ECP for processing. The FA must follow all minimum ECP processing guidelines concerning image quality. In cases where image quality in excess of the minimum ECP guidelines is required, such specifications shall be included in the Statement of Required Services (SRS) between the FA and Fiscal Service. After receiving information from the lockbox financial agents, ECP forwards the check information to Revenue Collections Management’s Debit Gateway application, which settles the transactions electronically.

Lockbox Implementation

Determining if a Paper Lockbox is Suitable

Fiscal Service is committed to maximizing electronic revenue collections, and federal entities should exhaust the possibility of electronic collection options prior to requesting lockbox services. Fiscal Service establishes and provides lockbox services at its sole discretion. Factors in determining whether lockbox services are appropriate include what electronic options are available, volume and dollar size of cash flows, and the legal need or requirement for paper remittances or original documents.

Requesting Lockbox Services

To request lockbox services, federal entities must submit an official request for a new lockbox or new lockbox services in writing to the Revenue and Remittance Management Division. The request must include the potential number and dollar amount of items, an explanation why federal entities cannot manage the cash flow electronically including specific legal requirements, and a copy of any required coupon or form that would accompany a receipt. The Fiscal Service will perform an analysis, and in its sole discretion, determine if lockbox services are necessary. If denied, the Revenue and Remittance Management Division will recommend an alternative collection mechanism.

Product Initiation

In many instances a lockbox application is identifiable by program entities’ requests for changes in depositary arrangements. In some cases, lockbox requests or needs arise due to audits by the federal entities’ Inspectors General.

Federal entities desiring to use lockbox services should contact:

Department of the Treasury
Bureau of the Fiscal Service
Agency Relationship Engagement Division

Standard Lockbox Services

If a request for a lockbox is approved, Fiscal Service offers a standard suite of lockbox services at no charge to the federal entity. The process of setting up or converting to a paper lockbox begins with the federal entity review of the standard general specifications for all lockbox services, or the model SRS. Working in collaboration with Fiscal Service, the federal entity shall fill in detailed federal entity specifications where required. Fiscal Service and the federal entity shall sign the SRS. The SRS will serve as instructions to the FA. If volumes drop too low, Fiscal Service reserves the right to close a lockbox or move it to an electronic collection service.

Reimbursable Services

If a request for a lockbox is approved, Fiscal Service will provide a range of standard lockbox services at no cost to the federal entity. In some cases, Fiscal Service may offer to other federal entities, on a reimbursable basis, specialized services that are related to but outside the basic collection process. For details on the criteria used for determining whether Fiscal Service will provide a financial service on a reimbursable or non- reimbursable basis, see TFM Volume I, Part 6, Chapter 3200, Section 3235 “Criteria for Determining Whether a Financial Service Will Be Provided on a Reimbursable or Non-reimbursable Basis”. If a federal entity receives reimbursable services, then Fiscal Service and its FA, in coordination with the federal entity, will add further lockbox processing requirements to the SRS that reflect these added reimbursable services. Fiscal Service requires the federal entity receiving these services to also enter into an Interagency Agreement (IAA) with them.

Interagency Agreement (IAA)

In accordance with the Economy Act, if Fiscal Service conducts work for another federal entity that is outside the collection process, and hence Fiscal Service will be reimbursed for those services, then that federal entity must complete an Interagency Agreement (IAA) Form. (See FS Form 7600A and FS Form 7600B.)

Obtaining Lockbox Services

Fiscal Service has the exclusive authority to obtain lockbox services with the selected bank and the federal entity. A federal entity is prohibited from entering into contractual agreements, modifications of existing contracts, or renewal of existing contracts for federal entity collection systems without the prior approval of Fiscal Service.

Financial Agent Roles and Agreements

Financial Agency Agreement (FAA)

All qualified financial institutions tasked by the Fiscal Service with providing lockbox services to federal entities enter into Financial Agency Agreements (FAA) with Fiscal Service, in advance of doing so. Under these FAAs, Fiscal Service designates the financial institutions as depositaries and financial agents of the United States. The FAA specifies the terms and conditions under which the FA will perform lockbox services.

Service Level Agreement (SLA)

A Service Level Agreement (SLA) shall be part of every FAA and it, along with a Performance Scorecard, shall communicate expectations and goals for services to be provided by the FA, define measurements of performance by the FA in meeting these expectations and goals, set out specific metrics to be used in support of these measurements, and outline a process or methodology for how the FA’s overall performance in the delivery of lockbox services shall be measured. Fiscal Service monitors the FA performance through these tolls and measurements.

Pay.gov: Credit Card Settlement

Remitters can submit credit card information through the mail for processing by the financial agent at the lockbox site. Credit card transactions received at the lockbox will be processed via Pay.gov®.

Federal Entity Monitoring Requirements

General Accountability of Funds and Performance

The federal entity is responsible for the accounting requirements of all transactions and funds transferred. Federal entities are required to monitor lockbox execution of the SRS on a daily basis to ensure quality service, reconciliation of detail remittance data, and the timely transferring of funds. Federal entities are to prepare the necessary financial statements and reports to Fiscal Service (I TFM Part 2).

Changes to the SRS

The federal entity shall provide to Fiscal Service advance written request of any requested changes to the operating process or lockbox services. Fiscal Service will review this request, reach a decision and convey it within 30 days. A federal entity cannot negotiate or implement, without prior approval of Fiscal Service, changes in the processing specification (as detailed in the SRS) and pricing.

Reconciliation Inquiries

The federal entity shall pursue inquiries concerning reconciliation of detail data/documents processed through the lockbox directly with the lockbox bank customer representative. Federal entities should report operational problems to Fiscal Service.

Required Services

In accordance with the SRS if the lockbox bank fails to perform the required services, then the federal entity shall inform Fiscal Service in writing within 10 calendar days.

Evaluation

The federal entity shall respond to periodic Treasury surveys for evaluation of services provided by both Fiscal Service and the FA bank.

Escalation of Issues

Report to Fiscal Service immediately incidents that include fraud, waste, abuse, theft, compromise of sensitive data, identity theft, accidental or malicious destruction of documents, suspected or actual data breach, or lost mail. In addition, the federal entity shall inform Fiscal Service as soon as practical, if the FA fails to perform the required services in conformity with the SRS or experiences other operational problems.

Domestic Checks and Cash (Over The Counter)

Agency Requirements for Deposits

Authority

12 U.S.C 90, 265-266, 1767, 1789a, and 31 U.S.C 3301-3303, 3720.

Making Deposits

Deposit Reporting

The agency must prepare an OTCnet Deposit Ticket, print it, and forward it to the financial institution along with the check or cash deposit. The deposit must reach the financial institution by its designated cut-off time. When creating an OTCnet Deposit Ticket, the agency must enter the voucher date (which shows when the deposit is created), not the date the agency expects it to arrive at the financial institution. Agencies must not post-date the voucher date, even if they are going to mail or send the deposit by courier. If the deposit arrives before the date entered on the OTCnet Deposit Ticket, the financial institution will not be able to confirm the agency’s deposit in a timely manner.

Agencies should make copies or digital images of all checks. Copies/images should be safeguarded and retained based on the agency’s internal policies. Treasury recommends that agencies retain copies/images for up to 10 business days, which will enable agencies to recreate deposits if checks are ever lost or stolen.

Check Capture

Agencies must process checks via OTCnet Check Capture. The following items cannot be processed through OTCnet’s Check Capture: Foreign items drawn on non-US financial institutions and Savings Bonds.

[Note: Since these items are not deposited at the agency’s financial institution, there is no need to endorse the back of the check.]

Daily deposits must be received by 9:30 PM ET for next-day settlement.

After being scanned, Treasury recommends retaining physical checks for up to 5 business days to ensure that there are no problems with file transmission, image quality, and processing of the checks. Checks should be safeguarded prior to destruction, and shredding is the method by which checks should be destroyed.

Depositors' Endorsement on Checks Deposited at a Financial Institution

Depositors' endorsements on checks deposited at financial institutions for credit to the Treasury's account must, at a minimum, include:

The agency location code (ALC); and

The words “For credit to the U.S. Treasury.”

Depositors must show the same ALC as shown on the OTCnet Deposit Ticket in the endorsement on checks deposited at a financial institution.

Designated Financial Institutions for TGA Deposits

Agencies must deposit funds at their designated financial institution. Agencies must hand-deliver the deposits to their designated financial institution, or hire a courier or armored car service to make scheduled deliveries. Except as provided in Section 2050.10, deposits must not be mailed to a financial institution, nor will ACH or Fedwire deposit activity be accepted. Agencies cannot make deposits at a Federal Reserve Bank.

[Note: For ACH or Fedwire deposits, federal agencies should refer to TFM Volume I, Part 5, Chapter 7500, “Fedwire and Automated Clearing House (ACH) Credit Deposits to the Account of the Bureau of the Fiscal Service”.]

Agencies must request permission to establish or change their financial institution from the St. Louis Federal Reserve Bank (FRB St. Louis). See the Contacts section for more information. In order to establish or change a financial institution, the following information will need to be provided to FRB St. Louis:

Name of the agency;

OTCnet endpoint name;

Agency location code (ALC);

Name, mail address, phone number, and address of the local agency contact;

Name and location of the agency’s current financial institution;

Time and manner in which the agency makes deposits with the current financial institution;

Name and location of the proposed financial institution;

Name and phone number of a contact person at the proposed financial institution;

Total dollar amount deposited monthly;

Total number of checks deposited monthly;

Dollar amounts and number of Treasury checks deposited monthly;

Amount of cash deposited monthly; and

A brief justification statement.

After the appropriate arrangements have been made, FRB St. Louis will notify the requesting agency that the setup is complete.

[Note: The requested financial institution has 10 business days from the date of receipt of the agency profile sheet to respond to the request. Agencies requesting a financial institution need to provide FRB St. Louis with a 30 day notice prior to the agency’s first deposit.]

Mail In Treasury General Account (MITGA)

The MITGA Program was developed to provide federal agencies with an alternative to make TGA deposits when access to a local FI is unavailable. Federal agencies that wish to use MITGA must contact FRB St. Louis to obtain an agency profile sheet, which must be filled out and returned to FRB St. Louis. The agency profile sheet is sent to the commercial bank administrator of the MITGA program. The MITGA commercial bank will send the agency instructions for sending deposits through the U.S. Postal Service. The agency will update its profile in OTCnet with the MITGA commercial bank’s routing and transit number and the account number. The agency will process a deposit in OTCnet and send the deposit to the MITGA commercial bank for confirmation.

Postage, registration, and other expenses incurred in mailing deposits may not be deducted from the amount of the deposit.

Funds Received for Another Agency

If an agency receives funds that must be deposited under another ALC, it must:

  1. Deposit the funds under its own ALC;
  2. Classify the transaction to its budget clearing account F3875; and
  3. Intra-Governmental Payment and Collection funds to the ALC for which the funds were deposited.

Remitter Requirements for Inscription on Checks

Remitters must inscribe checks to the order of the specific organization maintaining the account to be credited, not to the Department of the Treasury (Treasury). The payee organization must be sufficiently identified to ensure prompt delivery. However, if a check is made payable to Treasury, the agency must accept and process it immediately. Under no circumstances should remitters make checks payable by name to individual officers or employees of the federal government.

Agency Depositing Limitations, Recording, and Reporting

Daily Deposit Limitations

Agency depositors must limit deposits to one per day. Agencies must make deposits for credit to the U.S. Treasury's account without delay following the procedures below:

Coordinate processing schedules that allow deposits to reach the financial institution before that financial institution's designated cut-off time;

Agencies must deposit receipts totaling $5,000 or more on the same day received prior to depositary cutoff time. Deposits will be made as late as possible prior to the specified cutoff time to maximize daily deposit amounts. Collections totaling less than $5,000 may be accumulated and deposited when the total reaches $5,000. However, deposits must be made by Thursday of each week, regardless of the amount accumulated; and

If using OTCnet Check Capture, the agency must scan checks daily even if the checks total less than $5,000.

Record of Checks Received

Agency depositors must keep records of checks received, including the following information:

Amount;

Name of the drawer;

Name of the person from whom received (if other than the drawer);

Bank on which drawn;

Date drawn;

Check number (if cashier's check or similar item);

Checking account symbol and serial number (if drawn on Treasury); and

Serial number (if postal money order).

If a check is lost, mutilated, or destroyed, refer to the instructions in TFM Volume I, Part 5, Chapter 5000, Section 5035 (Uncollected, Lost, Destroyed, and Mutilated Checks).

Reporting Large Deposits

Agencies must report daily aggregate deposits (excluding Treasury checks) of $50 million or more to the Bureau of the Fiscal Service’s Cash Reporting Branch. See "Cash Forecasting Requirements" chapter at TFM Volume I, Part 6, Chapter 8500, section 8530, for instructions. However, agencies must not accept any check written for more than $99,999,999.99, as the Federal Reserve banks will not process checks over that amount. See Federal Reserve Banks Operating Circular 3, “Collection of Cash Items and Returned Checks,” section 3.3.

Unpaid Checks

Introduction

Checks unpaid for any reason by the bank on which they are drawn, except as specified by the Department of the Treasury (Treasury), will be processed for fund recovery according to the procedures in this chapter and the Over-the-Counter Channel Application Network (OTCnet) Adjustment, Correction, or Rescission procedures as appropriate. Checks that have been lost, destroyed, or mutilated after receipt by the government will be managed in accordance with Section 5035.

Authority

The Secretary of the Treasury’s authority to make and deliver Agreements of Indemnity is found at section 17306 of the Government Losses in Shipment Act, 40 U.S.C. § 721.

Return Items or Dishonored Checks

Federal Agency Depositors

Upon receipt of an unpaid check from the depositary, agency depositors will:

  1. Log into OTCnet to get the corresponding debit voucher data;
  2. Follow any internal agency guidelines and procedures to collect the amount as though no check had been received; and
  3. Log into CIR to view the debit to the appropriate Agency Location Code (ALC).
Depositaries

When a check is returned unpaid (i.e., checks returned for insufficient funds, stop payment, or closed accounts) to the depositary with which the check was originally deposited, the depositary will create a return item adjustment in OTCnet.

Charges to Wrong ALC

If the amount of an unpaid check to Treasury's General Account is charged to the wrong ALC, the depositary should request from the Fiscal Service OTC Customer Support the appropriate ACR Request Form to initiate the correction or adjustment.

The federal agency whose ALC has been charged in error should contact the depositary to request from Fiscal Service OTC Customer Support the appropriate ACR Request Form by email to correct the debit (see Contacts).

For any corrections that cannot be made in OTCnet, the ACR Request Form should be used.

Uncollected, Lost, Destroyed, and Mutilated Checks

Replacement without an Agreement of Indemnity

The federal agency must attempt to obtain a replacement without an Agreement of Indemnity, immediately upon discovering loss, destruction, or mutilation of checks. If a check is lost, whether before or after deposit, federal agency depositors will notify the drawer to stop payment on the check and reissue a replacement check, and follow any internal guidelines and procedures. New checks received will be processed for deposit as new business.

Agreement of Indemnity for Replacement

When a replacement cannot be obtained without an Agreement of Indemnity, the federal agency should request an Agreement of Indemnity from Fiscal Service.

The following information must be included in the federal agency’s request for an Agreement of Indemnity:

  1. Copy of the check or money order, if available,
  2. Complete description of the check including the type of check, issue date, amount, and payee,
  3. Amount requested for reimbursement,
  4. Name and address of the bank that will receive the Agreement of Indemnity, (i.e., the bank that will issue the replacement check),
  5. Memo from the issuing bank, stating the check or money order has not been cashed, and
  6. Complete address of the federal agency to which the replacement check is to be delivered.

Upon approval of the federal agency's request, the Fiscal Service will execute and deliver the Agreement of Indemnity to the bank issuing the replacement check.

Fiscal Service will send a copy of the Agreement of Indemnity and the transmittal letter to the federal agency that requested the Agreement of Indemnity, and to the federal agency that will receive the replacement check (if different from the requesting agency).

Issue Resolution and Emergency Procedures

Counterfeit Currency

Financial institutions must surrender to the Secret Service any suspected counterfeit currency deposited to Treasury's General Account. In such cases, the agency will receive from the financial institution a photocopy of the Secret Service Form 1604: Counterfeit Note Report, and/or any other documentation that accompanied the surrendered currency. At that point, the agency must contact the Secret Service to find out if the surrendered currency was determined to be counterfeit. The agency must ensure that the financial institution processes an OTCnet Deposit Ticket for the amount of surrendered currency that the Secret Service determines is not counterfeit. See the Contacts section for more information.

Emergency Procedures

The CMITGA program was developed to provide federal agencies a contingency solution to their standard OTCnet deposit reporting process. This contingency is used in the event the federal agency’s designated financial institution is unable to accept deposits for any reason, including (but not limited to) the following reasons:

Will not open for business;

Will be delayed in opening;

Will have limited hours of operation; and

Is affected by an environmental limitation that prevents the physical delivery of the federal deposits.

Contact the OTCnet Customer Service Team at 866-945-7920 and notify the customer service representative that your agency intends to use the CMITGA program. This notification will ensure that the agency is set up properly in the OTCnet application prior to mailing deposits to the CMITGA commercial bank for contingency purposes. Once the CMITGA commercial bank receives a mailed deposit from the agency, the CMITGA commercial bank will confirm it in OTCnet.

Foreign Checks

Overview

Authority

31 U.S.C. 321, 3301, 3302; 12 U.S.C. 90, 265

General Information

Federal agencies should require payment in U.S. dollars whenever possible, especially with checks or money orders.

All foreign collection services for TGA deposits will be processed by one or more financial agents. The financial agent for foreign check processing will initially accept and process all foreign checks (see List of Currencies, subsection 6065.10) from Federal agencies, regardless of USD equivalent value.

The financial agent for foreign currency processing will purchase foreign banknotes (including coins) of various countries from Federal agencies. The financial agent will publish the exchange rates for all traded foreign currencies (see List of Currencies, subsection 6065.30).

Determine Whether the Check is a Foreign or Domestic Item

The Federal agency depositor must determine whether the deposit item is a foreign check or a domestic check prior to creating a deposit in OTCnet.

Foreign Check

All of the following attributes appear on a foreign check:

A foreign bank drawee name;

The address of a foreign bank drawee located outside the U.S.; and

A non-consecutive nine digit routing transit number.

Domestic Check

The following attribute(s) appear on a domestic check:

A U.S. bank drawee name; and/or

A consecutive nine digit routing transit number.

Ineligible Check Items

The following items are ineligible for processing as a domestic or foreign check:

Checks with dates missing and/or incomplete information

Checks previously dishonored and so marked on the face of the item

Checks post-dated or stale-dated (i.e., six months or greater)

Traveler checks

Stop payment on checks

Checks written on closed accounts

Fraudulent/counterfeit checks

Record and Endorsement of Checks

Record of Checks

The agency depositor must keep a description of each check to permit duplication in the event a check becomes lost, destroyed, or mutilated. If such records are adequate and support duplication of the original check data (e.g., photocopy or digital images), additional record maintenance is unnecessary.

At minimum, the maintenance record must include the following information:

Currency amount

Currency type

Bank drawee name

Bank drawee address

Drawer/Check writer name

Date on check

Check number, if applicable

Check Endorsement

Checks drawn on foreign banks and branches of U.S. banks, whether payable in U.S. dollars or foreign currency, must be endorsed by the Federal agency. The endorsement must include, at minimum, the following information for checks deposited to a Treasury’s General Account:

ALC

The words “For Credit to the U.S. Treasury”

Deposit Foreign Checks Payable in Foreign Currency

Foreign Checks Listed

Checks that are drawn on foreign banks, payable in foreign currency, and listed on the tradable currency list (Section 6065), or listed in OTCnet’s currency code drop down box, will be processed in OTCnet as foreign check items. These items will be treated as cash letter items. Cash letter items are immediately cleared and are granted provisional credit within two business days following the day the financial agent receives the check.

A separate deposit must be created for each type of foreign currency.

The agency depositor will:

  1. Log into OTCnet Deposit Processing
  2. Create a deposit for a foreign check item
  3. Select the appropriate currency code (under Foreign Currency Information)
  4. Enter the foreign currency amount (under Foreign Currency Information)
  5. Mail the OTCnet deposit ticket and foreign check to:

Bank of America
Foreign Transit Items
GA 4-004-02-02

6000 Feldwood Road
College Park, GA 30349

The exchange rate and USD conversion amount will be determined and entered into OTCnet by the financial agent. The financial agent will confirm the deposit in OTCnet, and field #4 (Amount) on the OTCnet deposit ticket will be populated.

Foreign Checks Not Listed

Foreign checks not listed on the foreign check tradable currency list (Section 6065) will be treated as collection items. Collection items are forwarded to the foreign banks that the checks are drawn on for clearance, prior to credit being granted. This collection process takes approximately six to eight weeks to complete.

The agency depositor will:

  1. Log into OTCnet Deposit Processing;
  2. Create a deposit for a foreign check item;
  3. Select the appropriate currency code (under Foreign Currency Information);
  4. Enter the foreign currency amount (under Foreign Currency Information); and
  5. Mail the OTCnet deposit ticket and foreign check to:

Bank of America
Foreign Clean Collections
GA 4-004-02-02

6000 Feldwood Road
College Park, GA 30349

Once the check item clears, the financial agent will enter the USD equivalent amount and confirm the deposit in OTCnet.

Cash letter items and collection items can both be mailed in the same envelope to the same address. However, cash letter and collection items must have separately created OTCnet deposit tickets (i.e., vouchers). They cannot be listed on the same voucher.

Deposit Foreign Checks Payable in U.S. Dollars

Foreign checks drawn on Canadian and specific United Kingdom (UK) clearing banks (subsections 6065.10 and 6065.20), payable in U.S. dollars, will be processed as foreign check items (subsection 6040.10) in OTCnet. The agency depositor must select the currency code for United States (i.e., USD).

Foreign checks drawn on foreign banks outside of Canada and the UK, payable in U.S. dollars, will be processed as collection items (subsection 6040.20) in OTCnet.

Checks drawn on foreign banks made payable through a bank in the U.S. or reflecting a consecutive 9-digit routing number will be processed in the same manner as checks in U.S. currency.

Return Items and Collection Charges

The depositary will reprocess all items over $200 not successfully cleared on initial presentation, unless the item is ineligible (subsection 6025.30).

Eligible return items are reprocessed as collection items and will be subject to a six to eight week processing period. In such cases, the Federal agency will receive a notice and the check. If a foreign check is returned for any reason, the financial agent will use the Returned Item Adjustment in OTCnet. The amount of the debit will equal the credit that was given to the agency because the exchange rate applied when the item is returned will be the same exchange rate applied when provisional credit was given. The Federal agency will receive a copy of the debit advice along with the foreign check.

Federal agencies may incur foreign collection charges or bank fees that are deducted from the proceeds by the foreign bank, prior to the settlement of the credit. Foreign collection fees (usual and customary fees) assessed after credit has been given in OTCnet may be charged back to the Federal agency upon notification from the Fiscal Service. Federal agencies may wish to consider setting higher minimum check limitations because of these substantial charges associated with foreign checks.

Deposit Foreign Currency

Foreign Currency Listed

Separate deposits must be created in OTCnet for each type of foreign currency.

The agency depositor will:

  1. Log into OTCnet Deposit Processing;
  2. Create a deposit for foreign currency;
  3. Select the appropriate currency code (under Foreign Currency Information);
  4. Enter the foreign currency amount (under Foreign Currency Information); and
  5. Mail the OTCnet deposit ticket and foreign currency, if under $5000.00 (5K) USD value, by registered mail, to:

Bank of America GBN-LA
Mail Code: CA9-924-01-11

2706 Media Center Drive
Los Angeles, CA 90065-1733

Foreign Currency Not Listed

The agency depositor will:

  1. Log into OTCnet Deposit Processing;
  2. Create a deposit for foreign currency;
  3. Select the appropriate currency code (under Foreign Currency Information);
  4. Enter the foreign currency amount (under Foreign Currency Information);
  5. Mail the OTCnet deposit ticket and foreign currency, if under 5K USD value, by registered mail to:

Bank of America GBN-LA
Mail Code: CA9-924-01-11

2706 Media Center Drive
Los Angeles, CA 90065-1733

Once the currency clears, the financial agent will enter the USD equivalent amount and confirm the deposit in OTCnet.

Foreign Currency Over 5K USD Value

If the foreign currency deposit is over 5K USD value, OTCnet will prompt the agency depositor to call the financial agent’s Banknote Trading Desk for an armored courier pick up. The foreign currency deposits will be delivered to a specific location of the financial agent (see Contacts).

The agency depositor must confirm the legitimacy of the armored courier prior to releasing the foreign currency deposit. Once the deposit has been picked up and signed for by the financial agent’s armored courier, responsibility and liability of the deposit transfers to the TGA bank. The armored courier acts as the agent of the financial institution, not the Federal agency.

Place Orders to Sell Foreign Currency Banknotes

Federal agencies may place orders to sell banknotes and selected coins in OTCnet to the financial agent. The agency depositor will communicate the appropriate instructions to the financial agent, who will receive the information in OTCnet and act upon it.

Federal agencies will send the shipment of foreign currency banknotes to the financial agent in the same manner as foreign currency deposits for under and over 5K USD (subsections 6055.10 and 6055.30).

Deposit Corrections

If a Federal agency discovers an error after the deposit was submitted for confirmation in OTCnet, the agency depositor should call the Foreign Currency Customer Service desk (see Contacts) and/or request from the Fiscal Service OTC Customer Support the appropriate ACR Form to initiate the correction or adjustment.

List of Currencies

Foreign Check Tradable Currencies

Country Currency Currence Code
Australia Australian Dollar AUD
Austria Euro EUR
Belgium Euro EUR
Canada Canadian Dollar CAD
Denmark Danish Kroner DKK
European Community Euro EUR
Finland Euro EUR
Germany Euro EUR
Germany Euro EUR
Greece Euro EUR
Hong Kong Hong Kong Dollar HKD
Ireland Euro EUR
Italy* Euro EUR
Japan Yen JPY
Mexico Pesos MXN
New Zealand New Zealand Dollar NZD
Norway Norwegian Kroner NOK
Portugal Euro EUR
Saudi Arabia Saudi Arabian Riyal SAR
Scotland Pound Sterling GBP
Singapore* Singapore Dollar SGD
Spain Euro EUR
Sweden Swedish Kronor SEK
Switzerland Swiss Franc CHF
Tahiti/French Polynesia CFP Franc XPF
United Arab Emirates Dirham AED
United Kingdom Pound Sterling GBP
United States* US Dollar USD

LIMITATIONS and EXCEPTIONS:

Italy: Checks $1,000.00 or higher must have an endorsement "Non-transferable."

Singapore: Non-transferable items must be processed on a collection basis.

United States: Only USD items drawn on a Canadian Bank or specific UK Clearing Bank can be processed as a cash letter item.

All other USD items drawn on foreign banks in other countries are to be processed as collection items (subsection 6040.20).

United Kingdom Clearing Banks

Items must be drawn on the eligible banks listed below:

ABC International Bank plc Fibi Bank (UK) LTD
Adam And Company plc Fortis Bank NV (Formerly Mees Pierson & Generale Bank)
Allied Irish Bank Ghana International Bank plc
Alpha Bank London LTD Girobank plc
Anz Banking Group Ltd (But Not Anz Grindlays) Hamburgische Landesbank Girozentrale
Banco Do Brasil S.A. Hanil Bank
Bangkok Bank Public Company LTD Hoare (C) & Co
Bank Leumi (UK) plc HSBC Bank plc
Bank Of America NT & SA Ing Bank N.V.
Bank Of Ireland Lloyds TSB Bank plc
Bank Of Montreal Mellon Bank NA
Bank Of Montreal Europe LTD Mizuho Corporate Bank
Bank Of New York Morgan Grenfell & Co LTD
Bank Of Scotland National Bank Of Egypt International LTD
Banque Nationale de Paris plc National Bank Of Greece SA
Barclays Bank plc NatWest Bank plc
Barclays Private Bank LTD Nedcor Bank LTD
Bayerische Hypo Und Vereinsbank AG Northern Trust Company
BFG Bank AG Rabobank
British Arab Commercial Bank LTD Riggs Bank Europe LTD
Brown, Shipley & Co LTD Riyad Bank
Bsi-Banca Della Svizzera Italiana Royal Bank Of Canada
Butterfield Bank (UK) LTD Royal Bank Of Canada Europe LTD
Charterhouse Bank Limited Silicon Valley Bank London
Chase Manhattan Bank N.A. Societe Generale
Citibank N.A. Standard Chartered Bank
Clydesdale Bank plc Svenska Handelsbanken
Co-Operative Bank plc Swiss Bank Corporation
Coutts And Co T.C. Ziraat Bankasi
Credit Lyonnais The Royal Bank Of Scotland plc
Den Danske Bank Aktieselskab Union Bank Of Nigeria LTD
Deutsche Bank AG United Overseas Bank LTD
EFG Eurobank Ergasias Wachovia Bank NA
Erste Bank Der Oesterreichischen Sparkassen AG

Foreign Currency

Country Currency Currency Code
Argentina Argentina Peso ARS
Aruba Aruba Florin AWG
Australia Australian Dollar AUD
Austria Euro/Austr Schilling EUR/ATS
Bahamas Bahamas Dollar BSD
Bahrain Bahrain Dinar BHD
Barbados Barbados Dollar BBD
Belgium Euro/Belgian Franc EUR/BEF
Belize Belize Dollar BZD
Bermuda Bermuda Dollar BMD
Bolivia Bolivian Boliviano BOB
Brazil Brazilian Real BRL
Brunei Brunei Dollar BND
Canada Canadian Dollar- Coin CAC
Canada Canadian Dollar CAD
Cayman Islands Cayman Islands Dollar KYD
Chile Chilean Peso CLP
China China Renminbi/Yuan CNY
Colombia Colombian Peso COP
Communaute Financiere Africaine (BCEAO) CFA Franc- Western African XOF
Communaute Financiere Africaine (BEAC) CFA Franc- Central African XAF
Comptoirs Francais du Pacifique CFP Franc XPF
Costa Rica Costa Rican Colon CRC
Croatia Croatian Kuna HRK
Cyprus Euro/Pound EUR/CYP
Czech Republic Czech Korunas CZK
Denmark Danish Krone DKK
Dominica Republic Dominican Peso DOP
East Caribbean East Caribbean Dollar XCD
Egypt Egyptian Pound EGP
Estonia Estonian Kroon EEK
Euro Member Countries Euro-Coin EUC
Euro Member Countries Euro EUR
Fiji Fiji Dollar FJD
Finland Euro/Pound EUR/CYP
France Euro/Franc EUR/FRF
Germany Euro/Deutsche Mark EUR/DEM
Gibraltar Gibraltar Pound GIP
Greece Euro/Drachma EUR/GRD
Guatemala Guatemalan Quetzal GTQ
Guernsey Guernsey Pound GUP
Honduras Honduras Lempira HNL
Hong Kong Hong Kong Dollar HKD
Hungary Hungary Forints HUF
Iceland Icelandic Krona ISK
India Indian Rupee INR
Indonesia Indonesian Rupiah INR
Ireland Euro/Pound EUR/IEP
Isle of Man Pound Isle of Man Pound IMP
Israel Israeli Shequel New ILS
Italy Euro/Lira EUR/Lira
Jamaica Jamaica Dollar JMD
Japan Japanese Yen JPY
Jersey Jersey Pound JEP
Jordan Jordan Dinar JOD
Kenya Kenyan Shilling KES
Korea-South Korean Won KRW
Kuwait Kuwaiti Dinar KWD
Latvia Euro/Latvian Lats EUR/LVL
Lebanon Lebanese Pound LBP
Lithuania Lithuanian Litas LTL
Luxemburg Euro/Luxemburg Franc EUR/LUF
Malaysia Malaysia Ringgit MYR
Malta Euro/Maltese Lira EUR/MTL
Mauritius Mauritius Rupee MUR
Mexico Mexican Peso- Coin MXC
Mexico Mexican Peso MXN
Morocco Moroccan Dirham MAD
Nepal Nepal Rupee NPR
Netherlands Antilles Guilder ANG
Netherlands Euro/Florin EUR/NLG
New Zealand New Zealand Dollar NZD
Nicaragua Nicaragua Cordo NIO
Norway Norwegian Krone NOK
Oman Oman Rials OMR
Pakistan Pakistan Rupee PKR
Papua New Guinea Papua New Guinean Kina PGK
Paraguay Paraguay Guarani PYG
Peru Peru Nuevo Sol PEN
Philippines Philippine Peso PHP
Poland Poland Zloty PLN
Portugal Euro/Portuguese Escudo EUR/PTE
Qatar Qtar Riyal QAR
Romania New Romania Leu RON
Russia Russian Ruble RUB
Saudi Arabia Saudi Riyal SAR
Scotland Scottish Pound SCO
Singapore Singapore Dollar SGD
Slovakia Euro/Slovak Krona EUR/SKK
Slovenia Euro/Slovenia Tolars EUR/SIT
South Africa South African Rand ZAR
Spain Euro/Spanish Peseta EUR/ESP
Sri Lanka Sri Lanka Rupee LKR
Sweden Swedish Krona SEK
Switzerland Swiss Franc CHF
Taiwan Taiwan Dollar New TWD
Tanzania Tanzania Shilling TZS
Thailand Thailand Baht THB
Tonga Tonga Pa'anga TOP
Trinidad and Tobago Trinidad and Tobago Dollar TTD
Tunisia Tunisian Dinar TND
Turkey Turkish Lira-Old TRL
Turkey Turkish Lira-New TRY
UAH
United Arab Emirates UAE Dirham AED
United Kingdom British Pound Sterling- Coin GBC
United Kingdom British Pound Sterling GBP
Uruguay Uruguay N Peso UYU
US US Dollar-Coin USC
US US Dollar USD
Vanuatu Vanuatu Vatu VUV
Vietnam Vietnam Dong VND
Western Samoa Western Samoa Tala WST

Federal Financial Management Standards

Functions and Activities

Public Receipt Processing (FFM.060.030)

Receive direct payments made by public or payment information from Treasury;

Match payments received to invoices and payer account or determine they are miscellaneous receipts (e.g., user fees retained by the agency or other collections that must be deposited to the General Fund of the U.S. Government);

Prepare and record collection deposits;

Process credits for instances of overpayment;

Process returned negotiable instruments (e.g., returned check because of insufficient funds or closed account);

Includes receipt and processing of miscellaneous receipts, processing of billed and unbilled collections, and researching and resolving collections not clearly identified to an agreement

Federal Financial System Requirements (FFMSR)

Managing Revenues and Other Financing Sources (1.1.5)

Capture federal government revenue or other financing type (for example, exchange revenues, non-exchange revenues, budgetary resources), category (for example, taxes, duties, fines, user fees, and sale of goods and services), and subcategory (for example, income tax, excise tax, and donations) consistent with the FASAB Handbook.

Determine revenue classification (for example, exchange, non-exchange, and other financing sourcing) and value as specified in the FASAB Handbook.

Determine adjustments to budgetary and financial (proprietary) accruals consistent with the FASAB Handbook and OMB Circular No. A-11.

Provide revenue and other financing sources data to post General Ledger (GL) transactions consistent with United States Standard General Ledger (USSGL) attributes (for example, exchange/non-exchange indicator and program indicator), transaction codes, transaction categories (for example, collections and receivables), and transaction subcategories (for example, receivables/accrued revenue) as defined in the TFM.

Provide revenue and other financing sources disclosure and supplementary information for agency and government-wide reporting as specified in FASAB Handbook.

Establishing Receivables (2.2.4)

Capture federal government receivable information (for example, receivable type and customer information) to support agency management of and reporting on receivables to Treasury consistent with the TFM and as required by OMB Circular No. A-129 and the CFR.

Capture federal government unique payment information (for example, appropriation and fund) to support payment reports consistent with the TFM.

Determine proper payable amount and other payable information consistent with FASAB Handbook, 48 CFR Federal Acquisitions Regulations System (FARS) and as specified in the TFM.

Provide payable data required to post GL transactions consistent with USSGL transaction codes, transaction categories (for example, disbursements and payables), and transaction subcategories (for example, payments/purchases) as defined in the TFM.

Use Cases

Bill to Collect

Agree to Reimburse

Treasury Financial Manual (TFM)

TFM Volume I, Part 5, Chapter 4100; Requirements for Using Depositaries to Hold Public Money

TFM Volume I, Part 5, Chapter 4600; Treasury Lockbox Network

TFM Volume I, Part 5, Chapter 2000; Depositing Domestic Checks and Cash Received in Over the Counter (OTC) Collections

TFM Volume I, Part 5, Chapter 5000; Unpaid Checks

TFM Volume I, Part 2, Chapter 3400; Accounting for and Reporting on Cash and Investments Held Outside of the U.S. Treasury

TFM Volume I, Part 5, Chapter 6000; Foreign Checks and Currency Drawn on Foreign Banks

Other Resources

OTCnet

The Over-the-Counter Channel (OTCnet) is a web-based application that offers federal agencies flexible solutions to streamline management and reporting of payment transactions and deposits. OTCnet provides an all-in-one platform to automate deposit and payment processes, simplifying the classification of Treasury collections.

General Lockbox Network

The General Lockbox Network (GLN) is a collection and processing service provided by certain financial institutions to help federal government agencies process paper checks and other remittance documents (not relatedto taxes) that are received through the mail.

Contact Information

Contact Details

Direct inquiries concerning depositaries to hold public money to:

Department of the Treasury
Bureau of the Fiscal Service
Revenue Collections Management
Bank Policy and Oversight Division

3201 Pennsy Drive, Building E
Landover, MD 20785

202-874-8471


Direct questions regarding Treasury Lockbox Network to:

Department of the Treasury
Bureau of the Fiscal Service
Settlement Services Division

3201 Pennsy Drive, Building E
Landover, MD 20785

Financial Agent Contact/Help Desk assistance, call:

866-914-0558


Direct inquiries concerning domestic checks and cash received in OTC collections to:

Over the Counter Revenue Collection Division, Director:

202-874-5202

Federal Reserve Bank of St. Louis
OTC Support Team Telephone:

866-771-1842


Direct inquiries concerning counterfeit currency to:

Secret Service

U.S. Currency


Direct general inquiries concerning the ACR Request Form to:

OTC Customer Support Team

Toll Free Phone: 510-428-6824

Fax: 301-220-4588


Direct inquiries concerning Agreements of Indemnity in connection with the replacement of checks to:

Department of the Treasury
Bureau of the Fiscal Service
Financial Management Division
Warehouse and Operations Center, Dock 1

257 Bosley Industrial Park Drive
Parkersburg, WV 26101


Direct general inquiries concerning unpaid checks to:

Federal Reserve Bank of St. Louis
OTC Support Team

1-866-771-1842


Direct inquiries concerning accounting/reporting on cash, investments held outside the U.S. Treasury, and Statement of Transactions, CTA Module Reporting, or using Business Event Type Codes to:

Mike Davis, Manager
Cash Accounting Branch
Fiscal Accounting Operations
Bureau of the Fiscal Service

P.O. Box 1328
Parkersburg, WV 26106-1328


Direct inquiries concerning the ATB reporting to:

Jaime Saling, Director
Financial Reports and Advisory Division
Fiscal Accounting Operations
Bureau of the Fiscal Service

P.O. Box 1328
Parkersburg, WV 26106-1328

304-480-6485


Direct inquiries concerning the use of Treasury Account Symbols to:

Jerome Jackson, Manager
Budget Reporting Branch
Fiscal Accounting Operations
Bureau of the Fiscal Service

P.O. Box 1328
Parkersburg, WV 26106


Send foreign check items to:

Bank of America
Foreign Transit Items
GA 4-004-02-02

6000 Feldwood Road
College Park, GA 30349

Send foreign currency under $5K USD value, by registered mail, to:

Bank of America GBN-LA
Mail Code: CA 9-924-01-11

2706 Media Center Drive
Los Angeles, CA 90065-1733

Call the financial agent’s Banknote Trading Desk for foreign currency over $5K USD value:

1-800-387-1012


The foreign currency deposits over 5K USD value will be delivered by armored courier to:

Bank of America GBN-LA
Mail Code: CA 9-924-01-11

2706 Media Center Drive
Los Angeles, CA 90065-1733

Direct inquiries concerning foreign currency issues or concerns with specific transactions to:

Foreign Currency Customer Service

1-800-268-8144


Direct inquiries concerning foreign check deposit setup to:

Karen Dolores

888-715-1000, ext. 21600


Direct inquiries concerning foreign check concerns with specific transactions to:

Bank of America
Foreign Transit Items
GA 4-004-02-02

6000 Feldwood Road
College Park, GA 30349

Direct inquiries concerning the ACR Form to:

OTC Customer Support

1-866-945-7920


Direct inquiries concerning the placing of orders to sell banknotes to:

Bank of America Global Foreign Exchange

1-800-523-7860

Bank of America Global Foreign Exchange


Direct general inquiries concerning foreign checks and currency drawn on foreign banks to:

Over The Counter Division
TGA Program

202-874-7132>

or

Federal Reserve Bank of St. Louis
OTC Support Team

1-866-771-1842

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Revenue Collections

This page was last updated on September 29, 2021.