§ 203.1. Scope.
109 words·~1 min read·
/us/cfr/t31/s§ 203.1·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
The regulations in this part govern the processing by financial institutions of electronic and paper-based deposits and payments of Federal taxes; the operation of the Treasury Tax and Loan
(TT)program; the designation of TT depositaries; and the operation of the investment program. A financial institution may participate in the TT program by participating in the investment program or by accepting Federal tax payments, or both. A financial institution that accepts Federal tax payments may do so through the paper tax system (PATAX), or Electronic Federal Tax Payment System (EFTPS), or both. However, a financial institution is not designated as a TT depositary if it only processes EFTPS payments.