Financial Status Report

ICR 202306-2900-026

OMB: 2900-0165

Federal Form Document

IC Document Collections
IC ID
Document
Title
Status
44123 Removed
260945 New
ICR Details
2900-0165 202306-2900-026
Received in OIRA 201911-2900-007
VA 2900-0165
Financial Status Report
Revision of a currently approved collection   No
Regular 09/29/2023
  Requested Previously Approved
36 Months From Approved 10/31/2023
33,335 116,151
33,335 116,151
0 0

The major use of the form is to document and support eligibility determinations for waivers of collection, for the consideration of compromise offers, or to document information to assist in developing repayment plans.

US Code: 5 USC 5514 Name of Law: Installment deduction for indebtedness to the United States
   US Code: 38 USC 5302 Name of Law: Waiver of recovery of claims by the United States
   US Code: 38 USC 5314 Name of Law: Indebtedness offsets
   US Code: 31 USC 3711 Name of Law: Collection and compromise
   US Code: 38 USC 3716 Name of Law: Administrative offset
   US Code: 38 USC 3717 Name of Law: Interest and penalty on claims
   US Code: 38 USC 3718 Name of Law: Contracts for collection services
   US Code: 38 USC 5316 Name of Law: Authority to sue to collect certain debts
  
None

Not associated with rulemaking

  88 FR 43651 07/10/2023
88 FR 67452 09/29/2023
No

1
IC Title Form No. Form Name
Financial Status Report 5655 Financial Status Report
Financial Status Report 5655 Financial Status Report

  Total Request Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 33,335 116,151 0 -82,816 0 0
Annual Time Burden (Hours) 33,335 116,151 0 -82,816 0 0
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes
Miscellaneous Actions
During the Coronavirus 2019 (COVID-19) Pandemic, collection was paused on new debts effective April 2020 at the Debt Management Center (DMC) and restarted in January 2022. Additionally, DMC also no longer requires VA Form 5655 to approve repayment plans extending 60 months or fewer. Previously, VA Form 5655 was required to approve repayment plans extending greater than 12 months. Repayment plans on compensation and pension benefit overpayments now also automatically extend for 36 months instead of 12 months when over the minimum monthly payment threshold. Due to these reasons, form usage has fluctuated.

$1,105,269
No
    Yes
    Yes
No
No
No
No
Morgen Egesdal 612 725-4353 morgen.egesdal@va.gov

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
09/29/2023


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