---
kind: "section"
citation: "12 C.F.R. § 313.123"
title: "12"
number: "313.123"
heading: "Certification and referral of debt."
url: "https://uscodex.org/cfr/12/313.123"
---

# §313.123. Certification and referral of debt.


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)](/usc/31/3716.md?p=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.**

## Notes

### Authority

Authority: 5 U.S.C. 5514; 12 U.S.C. 1818(i), 1819(a); Pub. L. 104-134, 110 Stat. 1321 (31 U.S.C. 3701, 3711, 3716).

### Source

Source: 67 FR 48527, July 25, 2002, unless otherwise noted.