# Management of Federal Agency Disbursements
> **Fiscal Service** · Final rule. · Published 1998-09-25 · Effective 1999-01-02 · 63 FR 51490
## Document
- **Document number:** 98-25667
- **Category:** tax-irs
- **Sub-agency:** Fiscal Service
- **Federal Register citation:** 63 FR 51490
- **CFR reference:** 31 CFR 208
- **Publication date:** 1998-09-25
- **Effective date:** 1999-01-02
## Abstract

This regulation implements the provisions of section 31001(x) of the Debt Collection Improvement Act of 1996 (Act) that require that, subject to the authority of the Secretary of the Treasury (Secretary) to grant waivers, all Federal payments (other than payments under the Internal Revenue Code of 1986) made after January 1, 1999, must be made by electronic funds transfer (EFT). This regulation establishes the circumstances under which waivers are available; sets forth requirements for accounts to which Federal payments may be sent by EFT; provides that any individual who receives a Federal benefit, wage, salary, or retirement payment shall be eligible to open a low-cost Treasury-designated account at a financial institution that offers such accounts; and sets forth the responsibilities of Federal agencies and recipients under the regulation. In addition, this regulation provides for the designation of financial institutions as Financial Agents for purposes of implementing electronic benefits transfer (EBT) programs. EBT is the provision of Federal benefit, wage, salary, and retirement payments electronically, through disbursement by a Financial Agent. EBT includes payment through an electronic transfer account (ETA<SUP>SM</SUP>) as well as payment through a Federal/State program.

## Source
- [Federal Register document](https://www.federalregister.gov/documents/1998/09/25/98-25667/management-of-federal-agency-disbursements)
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