12 CFR § 313.123 - Certification and referral of debt.

---
identifier: "/us/cfr/t12/s313.123"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "12 CFR § 313.123 - Certification and referral of debt."
title_number: 12
title_name: "Banks and Banking"
section_number: "313.123"
section_name: "Certification and referral of debt."
chapter_name: "FEDERAL DEPOSIT INSURANCE CORPORATION"
subchapter_number: "A"
subchapter_name: "PROCEDURE AND RULES OF PRACTICE"
part_number: "313"
part_name: "PROCEDURES FOR COLLECTION OF CORPORATE DEBT, CRIMINAL RESTITUTION DEBT, AND CIVIL MONEY PENALTY DEBT"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
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)."
regulatory_source: "67 FR 48527, July 25, 2002, unless otherwise noted."
cfr_part: "313"
---


# 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) 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.