Notice2024-17884
Application and Renewal Fees Imposed on Surety Companies and Reinsuring Companies; New Fee Categories Added
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
August 12, 2024
Issuing agencies
Treasury DepartmentBureau of the Fiscal Service
Abstract
The Department of the Treasury, Bureau of the Fiscal Service, is updating the schedule of fees it imposes on and collects from surety companies and reinsuring companies, effective August 9, 2024.
Full Text
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<title>Federal Register, Volume 89 Issue 155 (Monday, August 12, 2024)</title>
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[Federal Register Volume 89, Number 155 (Monday, August 12, 2024)]
[Notices]
[Page 65716]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2024-17884]
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DEPARTMENT OF THE TREASURY
Bureau of the Fiscal Service
Application and Renewal Fees Imposed on Surety Companies and
Reinsuring Companies; New Fee Categories Added
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 updating the schedule of fees it imposes on and collects from surety
companies and reinsuring companies, effective August 9, 2024.
FOR FURTHER INFORMATION CONTACT: Melvin Saunders, at (304) 480-5108 or
<a href="/cdn-cgi/l/email-protection#35585059435c5b1b4654405b5150474675535c465654591b414750544640474c1b525a43"><span class="__cf_email__" data-cfemail="0f626a63796661217c6e7a616b6a7d7c4f69667c6c6e63217b7d6a6e7c7a7d7621686079">[email protected]</span></a>; or Bobbi McDonald, at (304) 480-
7098 or <a href="/cdn-cgi/l/email-protection#80e2efe2e2e9aeede3e4efeee1ece4c0e6e9f3e3e1ecaef4f2e5e1f3f5f2f9aee7eff6"><span class="__cf_email__" data-cfemail="77151815151e591a14131819161b1337111e0414161b59030512160402050e59101801">[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 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 adding application processing fees for two new
categories of reinsuring companies to the corporate federal surety bond
program. The fees in the other categories are unchanged from the notice
published in the Federal Register December 8, 2023.
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.
(5) Examination of a company's application for recognition as an
Alien Reinsurer: $4,500.
(6) Examination of a company's application for recognition as a
Complementary Reinsurer: $4,500.
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. 2024-17884 Filed 8-9-24; 8:45 am]
BILLING CODE 4810-AS-P
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