The Department of Defense, General Services Administration, and National Aeronautics and Space Administration have issued a notice regarding a request for the Office of Management and Budget to review and approve updates to an information collection requirement for electronic fund transfer payments. This requirement involves the contractors providing specific financial information to facilitate government payments via electronic funds transfer under the Federal Acquisition Regulation. The information collection is mandatory for contractors and is associated with OMB Control No. 9000-0144. Public comments on this matter are invited until February 4, 2021.
Simple Explanation
The government is asking businesses that work with them to give certain bank details so they can pay them electronically, and they want people to share their thoughts about this until February 4, 2021.