[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.