12 CFR 313.121

§ 313.121 Definitions.

United States · 12 CFR — Banks and Banking · Status: effective

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Citation: 12 CFR 313.121, § 313.121 Definitions, United States, version 1 as recorded 2026-07-09, yourstate.us, https://yourstate.us/provision/46349
Permanent ID: ys:prov:46349@1
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Full text

For purposes of this subpart E: (a) Debt or claim means an amount of money, funds or property which has been determined by the FDIC to be due to the United States from any person, organization, or entity, except another federal agency. (b) Debtor means a person who owes a debt or a claim. The term “person” includes any individual, organization or entity, except another federal agency. (c) Tax refund offset means withholding or reducing a tax refund payment by an amount necessary to satisfy a debt owed by the payee(s) of a tax refund payment. (d) Tax refund payment means any overpayment of federal taxes to be refunded to the person making the overpayment after the Internal Revenue Service (IRS) makes the appropriate credits.

Legislative history

This is a federal regulation, adopted through agency rulemaking under the Administrative Procedure Act — not enacted by a recorded vote of Congress.