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USF Moving to Treasury from Private Bank

On August 8, 2017, USAC reported that they are “formulating the plan to transfer the funds of the Universal Service Fund (USF) to the U.S. Department of Treasury.”  The funds are “currently held at a third party banking institution.” Despite the move, USAC will continue to the be the Universal Service Fund administrator and this change does not impact the status of E-rate funds (i.e. universal service funds remain separate from the Federal budget.)
USAC anticipates that the transfer will be complete during 2018, and stated that no immediate action is required by E-rate program participants.
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