Treasury Seeks Feedback on Surety Company Paperwork Renewals
Published Date: 2/28/2025
Notice
Summary
The Treasury Department is asking for public feedback on renewing paperwork that insurance companies need to keep their special government certifications. This affects surety and reinsurer companies working with the U.S. government and helps ensure they meet important rules. Comments are due by March 31, 2025, so don’t miss your chance to weigh in!
Analyzed Economic Effects
3 provisions identified: 3 benefits, 0 costs, 0 mixed.
Replacing Lost or Stolen Savings Bonds
Treasury uses FS Form 1048 and FS Form 2243 to let owners request substitute U.S. savings bonds or payment if their securities are lost, stolen, or destroyed. The agency estimates 72,000 respondents will use these forms annually (20 minutes for FS Form 1048 and 5 minutes for FS Form 2243), with a combined annual burden of 20,352 hours. Comments on the information collection extension must be received by March 31, 2025.
Fiduciary Requests to Distribute Treasury Securities
FS Form 1455 is used by fiduciaries to establish entitlement and request distribution of U.S. Treasury securities or related payments due to events such as termination of a trust, estate distribution, attainment of majority, or restoration to competency. The Treasury estimates 9,500 respondents will use this form annually, taking about 30 minutes each, for a total burden of 4,750 hours per year. Comments on renewing this collection are due by March 31, 2025.
Waiver to Receive Federal Checks
Federal Treasury forms FS Form 1201W (and variants) let some people ask to receive federal payments by check instead of electronic funds transfer (EFT) if they have a mental impairment, live in a remote location without EFT support, or were born on or before May 1, 1921. The Treasury estimates 3,250 people will use these forms, each taking about 20 minutes, with a total annual burden of 1,083 hours. Comments on renewing this information collection are due by March 31, 2025.
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Key Dates
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