The Centralized Receivables Service (CRS) is currently a pilot service provided to federal agencies to assist them in managing accounts receivable. Treasury's goal is to provide a service that increases collections on current receivables, which contributes to the reduction of delinquent debt. The pilot is one of the Treasury Office of Financial Innovation and Transformation's (FIT's) high-impact initiatives identified as a potential area for cost savings and transparency improvements in federal financial management.
CRS is focused on managing pre-delinquent debt and debt in the early stages of delinquency before it is eligible for Debt Management Services (DMS) referral. CRS also focuses on leveraging Treasury's provision of collection and reporting services, specifically Pay.gov and Collections Information Repository (CIR), formerly the Transaction Reporting System (TRS). CRS services are provided by a financial agent using state-of-the-art collections practices, which integrate with existing complementary operations in Fiscal Service for complete and efficient program management and oversight.
CRS will facilitate the seamless transfer of eligible delinquent debt to DMS for Cross-Servicing as required under the Debt Collection Improvement Act of 1996 (DCIA).
The pilot period is expected to last three to five years. For more information on the pilot and participation, please contact:
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CRS Fact Sheet
