§ 1073.206. Interest, penalties, and administrative costs.
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/us/cfr/t12/s§ 1073.206·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)Pursuant to 31 U.S.C. 3717, the Director shall assess interest, penalties, and administrative costs on debts owed to the United States. Interest, penalties, and administrative costs will be assessed in accordance with 31 CFR 901.9.
(b)The Director shall waive collection of interest on a debt or any portion of the debt which is paid in full within 30 days after the date on which the interest began to accrue.
(c)The Director may waive interest accrued during a period a disputed debt is under investigation or review by the Bureau, i.e., from the date the Bureau receives a request for review until the date the Bureau issues a final agency decision. The Director may only grant this waiver for good cause shown by the debtor. This waiver must be requested by the debtor before the expiration of the 30-day waiver period described in paragraph
(b)of this section.
(d)The Director may at any time waive collection of interest, penalties, or administrative costs if he or she finds that one or more of the following conditions exists:
(1)The Debtor is unable to pay any significant sum toward the debt within a reasonable period of time;
(2)Collection of interest, penalties, or administrative costs will jeopardize collection of the principal of the debt;
(3)The Bureau is unable to enforce collection in full within a reasonable period of time through collection proceedings; or
(4)Collection is against equity and good conscience or is not in the best interest of the United States.
(e)The Director is authorized to assess interest, penalties, administrative costs, or other related charges on debts that are not subject to 31 U.S.C. 3717 to the extent authorized under the common law or other applicable statutory authority.
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