Notice2021-25892
Application and Renewal Fees Imposed on Surety Companies and Reinsuring Companies; Increase in Fees Imposed
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
November 29, 2021
Issuing agencies
Treasury DepartmentBureau of the Fiscal Service
Abstract
The Department of the Treasury, Bureau of the Fiscal Service, is increasing the fees it imposes on and collects from surety companies and reinsuring companies, effective January 1, 2022.
Full Text
<html>
<head>
<title>Federal Register, Volume 86 Issue 226 (Monday, November 29, 2021)</title>
</head>
<body><pre>
[Federal Register Volume 86, Number 226 (Monday, November 29, 2021)]
[Notices]
[Pages 67788-67789]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-25892]
-----------------------------------------------------------------------
DEPARTMENT OF THE TREASURY
Bureau of the Fiscal Service
Application and Renewal Fees Imposed on Surety Companies and
Reinsuring Companies; Increase in Fees Imposed
AGENCY: Bureau of the Fiscal Service, Treasury.
ACTION: Notice of fees imposed on surety companies and reinsuring
companies.
-----------------------------------------------------------------------
SUMMARY: The Department of the Treasury, Bureau of the Fiscal Service,
is increasing the fees it imposes on and collects from surety companies
and reinsuring companies, effective January 1, 2022.
FOR FURTHER INFORMATION CONTACT: Melvin Saunders, at (304) 480-5108 or
<a href="/cdn-cgi/l/email-protection#a7cac2cbd1cec989d4c6d2c9c3c2d5d4e7c1ced4c4c6cb89d3d5c2c6d4d2d5de89c0c8d1"><span class="__cf_email__" data-cfemail="5e333b32283730702d3f2b303a3b2c2d1e38372d3d3f32702a2c3b3f2d2b2c2770393128">[email protected]</span></a>; or Bobbi McDonald, at (304) 480-
7098 or <a href="/cdn-cgi/l/email-protection#d5b7bab7b7bcfbb8b6b1babbb4b9b195b3bca6b6b4b9fba1a7b0b4a6a0a7acfbb2baa3"><span class="__cf_email__" data-cfemail="0a68656868632467696e65646b666e4a6c6379696b66247e786f6b797f7873246d657c">[email protected]</span></a>.
SUPPLEMENTARY INFORMATION: The Independent Offices Appropriations Act
of 1952 (IOAA), codified at 31 U.S.C. 9701, authorizes Federal agencies
to establish fees for a service or thing of
[[Page 67789]]
value provided by the agency to members of the public. Office of
Management and Budget Circular A-25 allows agencies to impose user fees
for services that confer a special benefit to identifiable recipients
beyond those accruing to the general public. Pursuant to 31 CFR 223.22,
Treasury imposes fees on surety companies and reinsuring companies
seeking to obtain or renew certification or recognition from Treasury.
The fees imposed and collected cover the costs incurred by the
Government for services performed reviewing, analyzing, and evaluating
the companies' applications, financial statements, and other
information. Treasury determines the amount of fees in accordance with
the IOAA and the Office of Management and Budget Circular A-25, as
amended. The change in fees is the result of a thorough analysis of
costs associated with the corporate federal surety bond program.
The new fee rate schedule is as follows:
(1) Examination of a company's application for a Certificate of
Authority as an acceptable surety or as an acceptable reinsuring
company on Federal bonds: $10,300.
(2) Determination of a company's continued qualification for annual
renewal of its Certificate of Authority: $6,000.
(3) Examination of a company's application for recognition as an
Admitted Reinsurer: $3,700.
(4) Determination of a company's continued qualification for annual
renewal of its authority as an Admitted Reinsurer: $2,600.
Questions concerning this notice should be directed to the Surety
Bond Branch, Special Assets and Liabilities Division, Bureau of the
Fiscal Service, 200 Third Street, Rm. 1010, Parkersburg, WV 26101,
Telephone (304) 480-6635.
Timothy E. Gribben,
Commissioner, Bureau of the Fiscal Service.
[FR Doc. 2021-25892 Filed 11-26-21; 8:45 am]
BILLING CODE 4810-AS-P
</pre><script data-cfasync="false" src="/cdn-cgi/scripts/5c5dd728/cloudflare-static/email-decode.min.js"></script></body>
</html>Indexed from Federal Register on November 29, 2021.
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.