[Code of Federal Regulations]

[Title 31, Volume 2]

[Revised as of July 1, 2005]

From the U.S. Government Printing Office via GPO Access

[CITE: 31CFR391.1]



[Page 525]

 

                  TITLE 31--MONEY AND FINANCE: TREASURY

 

         CHAPTER II--FISCAL SERVICE, DEPARTMENT OF THE TREASURY

 

PART 391_WAIVER OF INTEREST, ADMINISTRATIVE COSTS, AND PENALTIES--Table of Contents

 

Sec.  391.1  General.



    (a) Waiver of late charges. Late charges may be waived:

    (1) When the underlying claim is compromised in accordance with 4 

CFR part 103;

    (2) Where the underlying claim is not compromised but it is 

appropriate to waive late charges under the criteria of 4 CFR part 103 

relating to enforcement policy;

    (3) When collection of the underlying claim is terminated in 

accordance with 4 CFR part 104;

    (4) When a claim is suspended in accordance with 4 CFR part 104.

    (5) Where the cost of collecting the unpaid late charges would 

approach or exceed the amount of unpaid late charges to be collected and 

the amount of late charges does not qualify for referral to a collection 

agency or the Department of Justice;

    (6) Where the late charges pertain to claims involving savings bonds 

and notes arising under 31 U.S.C. 3105 and 3106 which are replaced 

pursuant to 31 U.S.C. 3126;

    (7) For reasons of equity or good conscience as provided in Sec.  

391.2.

    (b) Partial waiver. Late charges may be waived in full or in part.