USF Funds to be Transferred to the Department of Treasury

USAC has announced:

“In coordination with the FCC, USAC is formulating the plan to transfer the funds of the Universal Service Fund (USF) to the U.S. Department of Treasury. The USF funds are currently held at a third party banking institution…”

“While no action is required by any USF program participants at this time, USAC is committed to proactively communicating with all stakeholders through the course of this transition and will provide detailed transition information beginning in November of 2017. We anticipate the transfer to be complete during 2018.”

Approximately $10 billion in funds will be transferred. E-rate accounts for $3.9 billion of the $10 billion available under the USF annually.