Home | Contact the OCC | Directory | Subject Index | Site Map | Privacy and Security | Accessibility | |||||
Public Information | |||||
Frequently Asked Questions About the Assessment Process The following are examples of questions frequently asked by banking industry personnel. The corresponding answers will hopefully clarify issues with respect to the assessment process. How often do banks pay the assessment, when is it due, and who is subject to the assessment? The Comptroller of the Currency’s (OCC) assessment on national banks is paid semi-annually. Payments are due on January 31 and July 31 of each year. An assessment is based on an institution’s total assets and other information as reported in the call reports as of December 31 and June 30. An assessment is paid in advance. For example, the assessment due January 31 covers the period January 1 through June 30. All national banks that are under the OCC’s jurisdiction on December 31 or June 30 are subject to the full assessment. Institutions leaving the national banking system need to do so prior to December 31 (December 30 or prior) or prior to June 30 (June 29 or prior) in order to avoid paying the full assessment. How is the assessment calculated? How does the OCC notify the institutions that it supervises of the current fee structure? A bank’s assessment is calculated based on a fee schedule that is published at least annually. The Notice of Comptroller of the Currency Fees is made available to the public at least 30 days prior to becoming effective. The fee schedule is typically published (mailed to each national bank and made available on the OCC’s Web site) in December and is effective on January 1. It addresses all aspects of the OCC’s assessment and also includes a complete list of the OCC’s licensing fees. There are three types of assessments that banks are responsible for: the general assessment that applies to all institutions; the independent trust bank fee; and the independent credit card bank fee. The independent trust bank fee and independent credit card bank fee apply to only certain institutions. Trust banks that are not affiliated with a full-service national bank are subject to the independent trust bank fee. Similarly, credit card banks that are not affiliated with a full-service national bank are subject to the independent credit card bank fee. A bank’s assessment may be adjusted if it is considered a problem bank, or if it is a nonlead bank controlled by a company owning two or more national banks. Are national banks billed for their assessment? No. Prior to the due date for each semi-annual assessment, the OCC mails assessment returns to all national banks. The returns include detailed instructions for computing a bank’s assessment as well as instructions for submitting its payment electronically. Each national bank is responsible for computing and paying its assessment on or before the due date, regardless of whether the assessment return has been received. Copies of returns are always available on the OCC’s Web site and institutions can contact employees in the OCC’s Revenue Accounting unit for assistance. When final call report information is available for December 31 and June 30 (about 75 days after the call report date), the OCC calculates the assessment for each national bank and compares that amount to the amount the corresponding institution paid. Institutions that underpaid are contacted to make additional payments and institutions that overpaid are issued refunds. Is there assessment information available on the OCC’s Web site? Yes. For more detailed information concerning the OCC assessment, visit the links below.
– General Assessment.
For additional information, please contact someone in Revenue Accounting at the number indicated below:
Jane Brown - (202) 874-5093 Deborah Thomas - (202) 874-4785 Shelley Harvin - (202) 874-4547 You are entering an official United States government system, which may be used only for authorized purposes. Unauthorized modification of any information stored on this system may result in criminal prosecution. |
|||||