[Code of Federal Regulations]
[Title 27, Volume 1]
[Revised as of April 1, 2005]
From the U.S. Government Printing Office via GPO Access
[CITE: 27CFR53.158]

[Page 1022-1023]
 
            TITLE 27--ALCOHOL, TOBACCO PRODUCTS AND FIREARMS
 
 CHAPTER I--ALCOHOL AND TOBACCO TAX AND TRADE BUREAU, DEPARTMENT OF THE 
                                TREASURY
 
PART 53_MANUFACTURERS EXCISE TAXES_FIREARMS AND AMMUNITION--Table of 
Contents
 
    Subpart L_Refunds and Other Administrative Provisions of Special 
                   Application to Manufacturers Taxes
 
Sec. 53.158  Payment of tax by electronic fund transfer.

    (a) In general. For return periods after September 30, 1992, any 
taxpayer liable for firearms and ammunition excise taxes incurred under 
this part may elect to remit payments and deposits of the taxes 
(taxpayments) by electronic fund transfer (EFT). A taxpayer who elects 
to make remittance by EFT must use that method of remitting excise taxes 
on firearms and ammunition for a minimum of four consecutive calendar 
quarters. A taxpayer who makes remittance by EFT for a calendar quarter 
may not use any other method of remitting and ammunition excise taxes 
for that quarter.
    (b) Requirements. (1) On or before the 10th day of the calendar 
quarter preceding the calendar quarter in which the taxpayer will begin 
remitting taxes by EFT, each taxpayer who elects to make remittances by 
EFT of firearms and ammunition excise taxes incurred under this part 
shall give written notice to the appropriate ATF officer, indicating 
that remittances will be paid by EFT. Taxpayers who gave written 
notification in a previous calendar quarter electing to make remittances 
of tax by EFT are not required to give additional written notifications 
to continue remitting tax by EFT for succeeding calendar quarters.

[[Page 1023]]

    (2) For each deposit made or return filed in accordance with this 
subpart, the taxpayer shall direct the taxpayer's financial institution 
to make an EFT in the amount of the taxpayment to the Treasury Account 
as provided in paragraph (e) of this section. The request will be made 
to the financial institution early enough for the transfer of funds to 
be made to the Treasury Account no later than the close of business on 
the last day for making the deposit or filing the return as prescribed 
in Sec. Sec. 53.157 or 53.159, and 53.153. The request will take into 
account any time limit established by the financial institution.
    (3) Taxpayers who elect to discontinue making remittances by EFT of 
firearms and ammunition excise taxes may make such election at any time 
following four consecutive calendar quarters in which tax is remitted by 
EFT. Taxpayers electing to discontinue making remittances by EFT shall 
remit the tax with the next deposit or return as prescribed in 
Sec. Sec. 53.157 or 53.159, and 53.151 for remittances not made by EFT 
and notify the appropriate ATF officer by attaching a written 
notification to the tax deposit form or return stating that remittance 
of firearms and ammunition excise taxes will no longer be made by EFT.
    (c) Remittance. (1) Taxpayers who elect to make firearms and 
ammunition excise taxpayments by EFT shall file the deposit form and/or 
return with ATF in accordance with the applicable instructions on the 
forms.
    (2) Remittances will be considered as made when the taxpayment by 
EFT is received by the Treasury Account when it is paid to a Federal 
Reserve Bank.
    (3) When the taxpayer directs the financial institution to effect an 
electronic fund transfer message as required by paragraph (b)(2) of this 
section, the transfer data record furnished to the taxpayer through 
normal banking procedures will serve as the record of payment and will 
be retained as part of the required records.
    (d) Failure to make a taxpayment by EFT. The taxpayer is subject to 
penalties imposed by 26 U.S.C. 6651 and 6656, as applicable, for failure 
to make a payment or deposit of tax by EFT on or before the close of 
business on the prescribed last day for making such payment or deposit.
    (e) Procedure. Upon the notification required under paragraph (b)(1) 
of this section, the appropriate ATF officer will issue to the taxpayer 
an ATF Procedure entitled Payment of Tax by Electronic Fund Transfer. 
This publication outlines the procedure a taxpayer follows when 
preparing deposits, returns and EFT remittances in accordance with this 
subpart.

[T.D. ATF-330, 57 FR 40326, Sept. 3, 1992, as amended by T.D. ATF-365, 
60 FR 33671, June 28, 1995; T.D. ATF-447, 66 FR 19088, Apr. 13, 2001]