# Payment of Federal Taxes and the Treasury Tax and Loan Program
> **Fiscal Service** · Final rule. · Published 1998-02-03 · Effective 1998-03-05 · 63 FR 5644
## Document
- **Document number:** 98-2494
- **Category:** other
- **Sub-agency:** Fiscal Service
- **Federal Register citation:** 63 FR 5644
- **CFR reference:** 31 CFR 203
- **Publication date:** 1998-02-03
- **Effective date:** 1998-03-05
## Abstract

The Financial Management Service is issuing this final rule to implement provisions of the North American Free Trade Agreement Implementation Act (NAFTA), as amended. NAFTA requires the development and implementation of an electronic funds transfer (EFT) system for the collection of certain depository taxes. This regulation implements the Electronic Federal Tax Payment System (EFTPS) by prescribing rules for financial institutions and Federal Reserve Banks that use EFT mechanisms to process Federal tax payments through the EFTPS. The EFTPS began operation in the fall of 1996. This regulation also updates the rules governing the changes to the Treasury's investment program that were necessitated by the implementation of this EFT system.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/1998/02/03/98-2494/payment-of-federal-taxes-and-the-treasury-tax-and-loan-program)
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