[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: 31CFR391.4]



[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.  391.4  Documentary evidence.



    (a) When late charges are waived, the debtor's administrative file 

shall be properly documented with a memorandum. The memorandum shall 

contain a brief narrative statement describing the circumstances leading 

to the waiver and the reason(s) for granting the waiver.

    (b) A credit report or a financial statement sworn to by the debtor 

may be required before waiver of late charges is approved for a 

compromise, suspension, or termination, except where the cost of 

obtaining such a report or statement exceeds the late charges due.