§1639.54. Requests for offset to Federal agencies.
5 C.F.R. § 1639.54
The Executive Director may request that funds due and payable to a debtor by another Federal agency be paid to the Board in payment of a debt owed to the Board by that debtor. In requesting administrative offset, the Board, as creditor, will certify in writing to the Federal agency holding funds of the debtor:
That the debtor owes the debt;
The amount and basis of the debt; and
That the Board has complied with the requirements of 31 U.S.C. 3716, its own administrative offset regulations in this subpart, and the applicable provisions of 4 CFR part 102 with respect to providing the debtor with due process.
Notes, amendments, and revision history
Authority
Authority: 5 U.S.C. 8474 and 31 U.S.C. 3711, 3716, 3720A, and 3720D.
Source
Source: 62 FR 49417, Sept. 22, 1997, unless otherwise noted.