COLCFinal Rule
Electronic Payment of Royalties using Pay.gov
Finance & BankingTechnology
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Summary
This regulation allows people and companies to pay royalties owed to the federal government through Pay.gov, an online payment system. This makes it easier and more convenient to submit these payments rather than using older payment methods.
Key Points
- 1Royalty payments can now be made online through Pay.gov instead of by mail or in-person
- 2This applies to anyone who owes royalties to the federal government, such as companies extracting minerals or oil on public lands
- 3The online system provides a faster, more secure way to submit payments and get confirmation
- 4Payments made through Pay.gov can be processed more quickly than traditional methods
- 5This regulation went into effect on March 31, 2025
Impact Assessment
If you are an energy company or business owing federal royalties, this means you can now pay your obligations online through Pay.gov instead of using older payment methods, making the process faster and more convenient.
Impact Level
Routine
Geographic Scope
National
Compliance Cost
Minimal
Who is Affected
Energy CompaniesImporters/ExportersFinancial Institutions
Key Dates
Published
March 31, 2025
Regulatory Connections
Other Documents in This Rulemaking (COLC_FRDOC_0001)
This summary is for informational purposes only. It may not capture all nuances of the regulation. Always refer to the official text for authoritative information.
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