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[Federal Register Volume 89, Number 232 (Tuesday, December 3, 2024)]
[Notices]
[Pages 95910-95911]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2024-28231]

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DEPARTMENT OF THE TREASURY

Bureau of the Fiscal Service

Application and Renewal Fees Imposed on Surety Companies and 
Reinsuring Companies; Increase in Fees Imposed

AGENCY: Bureau of the Fiscal Service, Treasury.

ACTION: Notice of fees imposed on surety companies and reinsuring 
companies.

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SUMMARY: The Department of the Treasury, Bureau of the Fiscal Service, 
is adding renewal fees for Complementary and Alien Reinsurers as well 
as Admitted Reinsurer--Reinsurance Market companies and increasing the 
existing fees it imposes on and collects from surety companies and 
reinsuring companies, effective January 1, 2025.

FOR FURTHER INFORMATION CONTACT: Melvin Saunders, at (304) 480-5108 or 
[email protected]; or Bobbi McDonald, at (304) 480-
7098 or [email protected].

SUPPLEMENTARY INFORMATION: The Independent Offices Appropriations Act 
of 1952 (IOAA), codified at 31 U.S.C. 9701, authorizes Federal agencies 
to establish fees for a service or thing of value provided by the 
agency to members of the public. Office of Management and Budget 
Circular A-25 allows agencies to impose user fees for services that 
confer a special benefit to identifiable recipients beyond those 
accruing to the general public. Pursuant to 31 CFR 223.22, Treasury 
imposes fees on surety companies and reinsuring companies seeking to 
obtain or renew certification or recognition from Treasury. The fees 
imposed and collected cover the costs incurred by the Government for 
services performed reviewing, analyzing, and evaluating the companies' 
applications, financial statements, and other information. Treasury 
determines the amount of fees in accordance with the IOAA and the 
Office of Management and Budget Circular A-25, as amended. The change 
in fees is the result of a thorough analysis of costs associated with 
the corporate Federal surety bond program.
    The new fee rate schedule is as follows:

[[Page 95911]]

    (1) Examination of a company's application for a Certificate of 
Authority as an acceptable surety or as an acceptable reinsuring 
company on Federal bonds: $1313,600.
    (2) Determination of a company's continued qualification for annual 
renewal of its Certificate of Authority: $8,800.
    (3) Examination of a company's application for recognition as an 
Admitted Reinsurer: $55,000.
    (4) Determination of a company's continued qualification for annual 
renewal of its authority as an Admitted Reinsurer: $3,500.
    (5) Determination of a company's continued qualification for annual 
renewal of its authority as an Admitted Reinsurer--Reinsurance Market: 
$17,500.
    (6) Examination of a company's application for recognition as an 
Alien Reinsurer: $55,000.
    (7) Determination of a company's continued qualification for annual 
renewal of its authority as an Alien Reinsurer: $3,500.
    (8) Examination of a company's application for recognition as a 
Complementary Reinsurer: $55,000.
    (9) Determination of a company's continued qualification for annual 
renewal of its authority as a Complementary Reinsurer: $3,500.
    Questions concerning this notice should be directed to the Surety 
Bond Branch, Special Assets and Liabilities Division, Bureau of the 
Fiscal Service, Surety Bonds (A-1G), 257 Bosley Industrial Drive, 
Parkersburg, WV 26106, Telephone (304) 480-6635.

Timothy E. Gribben,
Commissioner, Bureau of the Fiscal Service.
[FR Doc. 2024-28231 Filed 12-2-24; 8:45 am]
BILLING CODE 4810-AS-P
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