Treasury Department

The Alcohol and Tobacco Tax and Trade Bureau, statutorily named the Tax and Trade Bureau (TTB) was established under the Homeland Security Act of 2002 (the Act) on January 24, 2003. Rendering the functions of the Bureau of Alcohol, Tobacco and Firearms (ATF) into two new organizations with separate functions, the Act created a new tax and trade bureau within the Department of the Treasury, and shifted certain law enforcement functions of ATF to the Department of Justice. The Act called for the tax collection functions to remain with the Department of the Treasury; and the new organization was called the “Alcohol and Tobacco Tax and Trade Bureau.” The mission of TTB is to collect alcohol, tobacco, firearms, and ammunition excise taxes that are rightfully due; to protect the consumer of alcohol beverages through compliance programs that are based upon education and enforcement of the industry to ensure an effectively regulated marketplace; and to assist industry members to understand and comply with Federal tax, product, and marketing requirements associated with the commodities we regulate.

The Office of Fiscal Service helps formulate policy and develop systems for the collection, disbursement, management and security of public monies in the United States and abroad, and related government-wide accounting and reporting for those funds. Programs of interest in the Fiscal Service are cash and debt management and forecasting, accounting policy, and the Bureau of the Fiscal Service. The Fiscal Assistant Secretary leads this office.

The CDFI Fund was created for the purpose of promoting economic revitalization and community development through investment in and assistance to community development financial institutions (CDFIs). The CDFI Fund was established by the Riegle Community Development and Regulatory Improvement Act of 1994.

The Office of the Comptroller of the Currency was created February 25, 1863, (12 Stat. 665), as an independent bureau of the Department of the Treasury. Its mission is to ensure that national banks, federal savings associations, and federal branches and agencies of foreign banking organizations operating in the United States (banks) operate in a safe and sound manner, provide fair access to financial services, treat customers fairly, and comply with applicable laws and regulations. The Office is headed by the Comptroller, who is appointed for a 5-year term by the President with the advice and consent of the Senate. The Office has the power to supervise and examine banks; approve or deny applications for new bank charters, branches, or mergers; take enforcement action against banks that do not comply with laws and regulations; and issue regulations and interpretations pertaining to banks. The Office supervises approximately 1,200 banks. The Office is independently funded through assessments on the assets of banks.

Until March 2003, the United States Customs Service was an agency of the U.S. Federal Government that collected import tariffs and performed other selected border security duties. Before it was dissolved to form part of the U.S. Department of Homeland Security as the Bureau of Customs and Border Protection and Immigration and Customs Enforcement, the United States Customs Service had three major missions: collecting tariff revenue, protecting the U.S. economy from smuggling and illegal goods, and processing people and goods at ports of entry.

The Bureau of Engraving and Printing operates on basic authorities conferred by act of July 11, 1862 (31 U.S.C. 303), and additional authorities contained in past appropriations made to the Bureau that are still in force. Operations are financed by a revolving fund established in 1950 in accordance with Public Law 81-656. The Bureau is headed by a Director who is selected by the Secretary of the Treasury. The Bureau designs, prints, and finishes all of the Nation's paper currency and many other security documents, including White House invitations and military identification cards. It also is responsible for advising and assisting Federal agencies in the design and production of other Government documents that, because of their innate value or for other reasons, require security or counterfeit-deterrence characteristics.

The U.S. Department of the Treasury established the Financial Crimes Enforcement Network in 1990 to provide a government-wide multisource financial intelligence and analysis network. The organization's operation was broadened in 1994 to include regulatory responsibilities for administering the Bank Secrecy Act, one of the nation's most potent weapons for preventing corruption of the U.S. financial system. The mission of the Financial Crimes Enforcement Network is to enhance U.S. national security, deter and detect criminal activity, and safeguard financial systems from abuse by promoting transparency in the U.S. and international financial systems.

The Office of Financial Research (OFR) was established within the Department of the Treasury under Sec. 152 of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Public Law 111-203). The OFR was created to improve the quality of financial data available to policymakers and facilitate more robust and sophisticated analysis of the financial system. To execute these functions, the OFR has two primary operational centers: a Data Center to standardize, validate, and maintain the data necessary to help regulators identify vulnerabilities in the system as a whole, and a Research and Analysis Center to conduct, coordinate, and sponsor research to support and improve operational simplicity.

The Office of Foreign Assets Control ("OFAC") of the US Department of the Treasury administers and enforces economic and trade sanctions based on US foreign policy and national security goals against targeted foreign countries and regimes, terrorists, international narcotics traffickers, those engaged in activities related to the proliferation of weapons of mass destruction, and other threats to the national security, foreign policy or economy of the United States. OFAC acts under Presidential national emergency powers, as well as authority granted by specific legislation, to impose controls on transactions and freeze assets under US jurisdiction. Many of the sanctions are based on United Nations and other international mandates, are multilateral in scope, and involve close cooperation with allied governments.

The Department of the Treasury's Office of Inspector General (OIG) was established in 1989 by the Secretary in accordance with the Inspector General Act Amendments of 1988. The OIG is headed by an Inspector General who is appointed by the President of the United States with the advice and consent of the United States Senate. The Inspector General reports to the Secretary of the Treasury through the Deputy Secretary and provides the Secretary with independent and objective reviews of the department's operations.

The Office of the Commissioner of Internal Revenue was established by act of July 1, 1862 (26 U.S.C. 7802). The Internal Revenue Service (IRS) is responsible for administering and enforcing the internal revenue laws and related statutes, except those relating to alcohol, tobacco, firearms, and explosives. Its mission is to collect the proper amount of tax revenue, at the least cost to the public, by efficiently applying the tax law with integrity and fairness.

Name changed Nov. 21, 2008 (73 FR 70716) to Office of Investment Security.

The Investment Security office is responsible for the implementation of Treasury’s responsibilities as Chair of the Committee on Foreign Investment in the United States ("CFIUS").​ CFIUS is an interagency committee that can review certain foreign investments in the United States in order to identify and address any effects on U.S. national security that may arise from the transactions. The CFIUS review process, which operates in the context of the United States’ longstanding open investment policy, focuses solely on national security concerns. The Investment Security office also leads Treasury’s open investment initiatives and dialogues with other countries, particularly as they relate to foreign investment review processes, to promote open investment policies and discourage foreign barriers to U.S. investment.

A component of Treasury Department.

The Bureau of the Public Debt was established on June 30, 1940, pursuant to the Reorganization Act of 1939 (31 U.S.C. 306). The Bureau's mission is to borrow the money needed to operate the Federal Government, account for the resulting public debt, and provide reimbursable support to Federal agencies. The Bureau fulfills its mission through five programs: wholesale securities, Government agency investment, retail securities services, summary debt accounting, and franchise services. The Bureau auctions and issues Treasury bills, notes, and bonds and manages the U.S. Savings Bond Program. It issues, services, and redeems bonds through a nationwide network of issuing and paying agents. It provides daily and other periodic reports to account for the composition and size of the debt. In addition, the Bureau implements the regulations for the Government securities market. These regulations provide for investor protection while maintaining a fair and liquid market for Government securities.

The Office of Thrift Supervision (OTS) regulates Federal- and State-chartered savings institutions. Created by the Financial Institutions Reform, Recovery, and Enforcement Act of 1989, its mission is to effectively and efficiently supervise Thrift institutions in a manner that encourages a competitive industry to meet housing and other credit and financial services needs and ensure access to financial services for all Americans.

The establishment of a mint was authorized by act of April 2, 1792 (1 Stat. 246). The Bureau of the Mint was established by act of February 12, 1873 (17 Stat. 424), and recodified on September 13, 1982 (31 U.S.C. 304, 5131). The name was changed to United States Mint by Secretarial order dated January 9, 1984. The primary mission of the Mint is to produce an adequate volume of circulating coinage for the Nation to conduct its trade and commerce. The Mint also produces and sells numismatic coins, American Eagle gold and silver bullion coins, and national medals. In addition, the Fort Knox Bullion Depository is the primary storage facility for the Nation's gold bullion. The U.S. Mint maintains sales centers at the Philadelphia and Denver Mints and at Union Station in Washington, DC. Public tours are conducted, with free admission, at the Philadelphia and Denver Mints.