Treasury Reviews Forms for Dead Folks' Government Debts
Published Date: 2/27/2026
Notice
Summary
The Treasury Department is asking for public feedback on several paperwork forms they use to manage money owed and payments after someone passes away. These forms mostly affect banks and people who owe money to the government. Comments are due by March 30, 2026, and the paperwork won’t change, but the government wants to keep things running smoothly without extra hassle or cost.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
Notice to Banks to Reclaim Post-Death Payments
Treasury will continue using FS Form 133 to notify financial institutions when payments were issued after a beneficiary's death, and will send a debit request (Form 135) to the Federal Reserve Bank if the institution does not respond. The collection is an extension without change (OMB Control Number 1530-0003); Treasury estimates 26,895 financial institutions respond on average 8.3 times per year, for 223,128 annual responses, at about 8 minutes per response (29,750 total annual burden hours).
Forms to Set Up Government Debt Repayment
Treasury will continue using FS Forms 122 and 123 to evaluate a debtor's ability to pay and to collect ACH payment information to set up recurring electronic payments for debt repayment. This is an extension without change (OMB Control Number 1530-0075); Treasury estimates 60 respondents will provide these forms once, with Form 122 taking about 15 minutes and Form 123 about 45 minutes, for a total estimated annual burden of 35 hours.
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