31 CFR § 370.5 - How can I appoint a financial institution to receive payments on my behalf?

---
identifier: "/us/cfr/t31/s370.5"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "31 CFR § 370.5 - How can I appoint a financial institution to receive payments on my behalf?"
title_number: 31
title_name: "Money and Finance: Treasury"
section_number: "370.5"
section_name: "How can I appoint a financial institution to receive payments on my behalf?"
chapter_name: "FISCAL SERVICE, DEPARTMENT OF THE TREASURY"
subchapter_number: "A"
subchapter_name: "BUREAU OF THE FISCAL SERVICE"
part_number: "370"
part_name: "ELECTRONIC TRANSACTIONS AND FUNDS TRANSFERS RELATING TO UNITED STATES SECURITIES"
positive_law: false
currency: "2026-04-05"
last_updated: "2026-04-05"
format_version: "1.1.0"
generator: "[email protected]"
authority: "12 U.S.C. 391; 31 U.S.C. chapter 31."
regulatory_source: "64 FR 40487, July 26, 1999, unless otherwise noted."
cfr_part: "370"
---


# 370.5 How can I appoint a financial institution to receive payments on my behalf?

You must name a financial institution to receive payments through credit entries using the ACH method. You also must identify the deposit account to which payments are to be made. To do this, you must use a form approved by us.