Notice2023-26995
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
December 8, 2023
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, 2024.
Full Text
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<title>Federal Register, Volume 88 Issue 235 (Friday, December 8, 2023)</title>
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[Federal Register Volume 88, Number 235 (Friday, December 8, 2023)]
[Notices]
[Pages 85730-85731]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2023-26995]
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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.
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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, 2024.
FOR FURTHER INFORMATION CONTACT: Melvin Saunders, at (304) 480-5108 or
<a href="/cdn-cgi/l/email-protection#64090108120d0a4a1705110a0001161724020d170705084a101601051711161d4a030b12"><span class="__cf_email__" data-cfemail="a9c4ccc5dfc0c787dac8dcc7cdccdbdae9cfc0dacac8c587dddbccc8dadcdbd087cec6df">[email protected]</span></a>; or Bobbi McDonald, at (304) 480-
7098 or <a href="/cdn-cgi/l/email-protection#d6b4b9b4b4bff8bbb5b2b9b8b7bab296b0bfa5b5b7baf8a2a4b3b7a5a3a4aff8b1b9a0"><span class="__cf_email__" data-cfemail="65070a07070c4b0806010a0b04090125030c160604094b111700041610171c4b020a13">[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 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
[[Page 85731]]
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: $12,400.
(2) Determination of a company's continued qualification for annual
renewal of its Certificate of Authority: $8,000.
(3) Examination of a company's application for recognition as an
Admitted Reinsurer: $4,500.
(4) Determination of a company's continued qualification for annual
renewal of its authority as an Admitted Reinsurer: $3,200. Questions
concerning this notice should be directed to the Surety Bond Branch,
Special Assets and Liabilities Division, Bureau of the Fiscal Service,
Surety Bonds (A-1G), 257 Bosley Industrial Drive, Parkersburg, WV
26106, Telephone (304) 480-6635.
Timothy E. Gribben,
Commissioner, Bureau of the Fiscal Service.
[FR Doc. 2023-26995 Filed 12-7-23; 8:45 am]
BILLING CODE 4810-AS-P
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</html>Indexed from Federal Register on December 8, 2023.
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