Volume IV contains instructions to guide financial institutions that qualify as Treasury Tax and Loan (TT&L) depositaries and/or provide electronic tax deposit services. This chapter describes the purpose and plan of Volume IV.
Section 1010-Introduction
The TFM is the Department of the Treasury's (Treasury's) official publication for financial accounting and reporting of all receipts and disbursements of the Federal Government. Treasury's Financial Management Service (FMS) issues the TFM to provide policies, procedures, and instructions for Federal departments and agencies, Federal Reserve Banks (FRBs), and other concerned parties to follow in carrying out their fiscal responsibilities.
Volume IV instructs and guides institutions that qualify as TT&L depositaries.
Section 1015-Authority
Title 31 of the Code of Federal Regulations, Parts 203 and 380 (31 CFR 203 and 380), governs how financial institutions become TT&L depositaries and the agreements between these depositaries and Treasury.
Section 1020-Compliance With Executive Order 13224, Blocking Property and Prohibiting Transactions With Persons Who Commit, Threaten To Commit, or Support Terrorism
Executive Order 13224 prohibits transactions with persons who commit, threaten to commit, or support terrorism. The Department of the Treasury's Office of Foreign Assets Control (OFAC) maintains the Specially Designated Nationals (SDN) and Blocked Persons list, which provides a list of individuals and entities covered by Executive Order 13224. The SDN and Blocked Persons list also includes the additional restrictions found in the Foreign Assets Control regulations at 31 CFR Chapter V.
Agencies must not make or certify payments, or draw checks or warrants, payable to an individual or organization listed on the SDN and Blocked Persons list. Agencies should consult the SDN and Blocked Persons list at http://www.ustreas.gov/offices/enforcement/ofac/sdn/index.html before making payments.
Direct questions concerning Executive Order 13224 or the SDN and Blocked Persons list to OFAC. See the contact information at http://www.ustreas.gov/offices/enforcement/ofac/contacts.html or call 202-622-2490.
Section 1025-Types and Purposes of TFM Releases
The TFM publishes several types of releases: chapters (often accompanied by appendices), bulletins, announcements, and supplements.
1025.10-Chapters
TFM chapters cover a specific subject. Each chapter contains a summary paragraph explaining its purpose. Chapters update existing procedures or provide new instructions based on changes to systems or applicable laws. The first chapter of each volume describes the makeup of that volume, the procedures covered, and other included material. Transmittal letters accompany chapter releases.
1025.10a-Transmittal Letters
Sequentially numbered transmittal letters, signed by the FMS Commissioner, accompany TFM chapter releases. These letters:
1025.10b-Contacts Page
Each chapter has a Contacts page that lists the office name, address, and telephone number for inquiries concerning the included material. The first contact listed is the office primarily responsible for the chapter. If the chapter contains specific or technical material relating to other areas of responsibility, the Contacts page also lists sources for that information.
When making inquiries about a specific item, TFM users should cite the pertinent volume, part, chapter, and section numbers (for example, IV TFM, Part 1, Chapter 1000, Section 1020).
1025.10c-Appendices
TFM chapters may include appendices. These appendices generally contain forms, instructions, regulatory material, and other information helpful in implementing chapter procedures.
1025.20-Bulletins
TFM bulletins provide notice of immediately effective changes to instructions or requirements that, usually, are codified into a TFM chapter.
Bulletins list superseded or rescinded material. They are numbered sequentially by the fiscal year of issue, signed by the FMS Commissioner, and filed with the pertinent volume.
Bulletins generally have retention dates of no more than one year. The retention date prescribes the bulletin expiration date. FMS issues a Retention Bulletin at the beginning of each fiscal year that lists the TFM bulletins remaining in effect beyond their original retention date.
1025.20a-Inquiries
Each bulletin includes an inquiries section. This section provides the address and telephone number of the office users should contact for questions about the bulletin. When making inquiries about a specific item, TFM users should cite the pertinent bulletin number (for example, IV TFM Bulletin No. 2006-01).
1025.20b-Attachments
Bulletins may include attachments. These attachments generally contain forms, charts, or additional instructions.
1025.30-Announcements
TFM announcements convey information covering a temporary period of time or of an emergency nature. Readers use announcements as guidelines for one-time events, such as procedures to be used during a Government shutdown or dates for reporting requirements. Announcements generally are not codified into a TFM chapter.
The TFM identifies announcements with an "A" followed by the year and number. For example, A-2005-01 refers to the first announcement released in fiscal 2005.
1025.40-Supplements
TFM supplements are extensions of the TFM and include detailed instructions, worksheets, and guidelines for financial reporting and accounting procedures. They provide a ready reference for specific subject matter and contain tables and graphics to illustrate specific data.
Supplements cover such areas as cash management, credit administration, the U.S. Government Standard General Ledger, and CA$H-LINK operating instructions. For a listing of the TFM supplements, see Appendix 1 to I TFM, Part 1, Chapter 1000, at http://www.fms.treas.gov/tfm/vol1/v1p1c100.pdf.
Section 1030-Standard and Prescribed Forms
FMS is increasing its efforts to create electronic options for information submittals to and transactions with Treasury. The efforts reflect a changing business environment where electronic processes are becoming more common because of increased efficiency and convenience. These efforts also are the direct result of the Government Paperwork Elimination Act, which requires Federal agencies to provide electronic options for transactions with Government.
Treasury has developed a Web site at http://www.fms.treas.gov/forms.html that includes some of the forms produced by FMS or that support FMS products and services. All departments and agencies should use standard accounting and reporting forms and related procedures, including those prescribed by the Government Accountability Office, unless exempted by law or FMS.
Direct inquiries concerning this chapter to:
U.S. Standard General Ledger Division
Accounting Systems and Standards Directorate
Governmentwide Accounting
Financial Management Service
Department of the Treasury
3700 East-West Highway, Room 213A
Washington, DC 20782
Telephone: 202-874-6121/6135
1. Purpose
This transmittal letter releases revised IV TFM 1-1000: Purpose and Plan of Volume IV of the Treasury Financial Manual (TFM). Volume IV contains instructions to guide financial institutions that qualify as Treasury Tax and Loan depositaries and/or provide electronic tax deposit services.
2. Page Changes
| Remove |
Insert | |
| Table of Contents for Volume IV (T/L 6) | Table of Contents for Volume IV | |
| Table of Contents for Part 1 | ||
| IV TFM 1-1000 (T/L 6) | IV TFM 1-1000 |
3. Effective Date
This transmittal letter is effective immediately.
4. Inquiries
Direct questions concerning this transmittal letter to:
U.S. Standard General Ledger Division
Accounting Systems and Standards Directorate
Governmentwide Accounting
Financial Management Service
Department of the Treasury
3700 East-West Highway, Room 213A
Hyattsville, MD 20782
Telephone: 202-874-6121/6135
Date: February 13, 2006
Richard L. Gregg
Commissioner