Treasury Announces Revised Coronavirus Relief Fund Final Rule


Treasury Announces Revised Coronavirus Relief Fund Final Rule

December 17, 2021

The U.S Department of Treasury has revised its guidance for the Coronavirus Relief Fund (CRF), which was established by the Coronavirus Aid, Relief, and Economic Security Act (CARES). The CRF is a $150 billion fund that provides for payments to State, Local, and Tribal governments navigating through the impacts of the COVID-19 pandemic. Payments from the CRF can only be used to cover necessary expenditures incurred due to the effect of the pandemic and were not accounted for in the budget most recently approved as of March 27, 2020 (the date of enactment of the CARES Act) for the Tribal government. The expenditures also had to have been incurred during the period between March 1, 2021 and December 31, 2021.

Treasury CRF Information
CRF Revision Announcement
Treasury's Guidance for CRF
Reporting and Recordkeeping requirements for CRF Payments

Treasury had previously determined that, for a cost associated with the acquisition of a good or service or the acquisition of or improvement to real estate to be considered to have been incurred within the covered period, performance or delivery must have occurred during the covered period.

Treasury is now revising the guidance to provide that a cost associated with a necessary expenditure incurred due to the public health emergency shall be considered to have been incurred by December 31, 2021, if the recipient has incurred an obligation with respect to such cost by December 31, 2021.  Treasury defines obligation for this purpose consistently with the Uniform Guidance definition in 2 C.F.R. 200.1 as an order placed for property and services and entry into contracts, subawards, and similar transactions that require payment.

Treasury’s reporting framework currently permits recipients to record their expenditures through September 30, 2022.  The CRF’s eligible use is restricted to “necessary expenditures incurred due to” the COVID-19 public health emergency. Treasury currently expects that this expenditure deadline will provide a sufficient amount of time for recipients to expend their funds in accordance with the eligible uses of the CRF.

Treasury has made certain adjustments to its frequently asked questions to reflect this revision and will provide recipients subsequent updates as to how this change will be reflected in the CRF reporting requirements.  The remainder of Treasury’s guidance remains in effect.

Questions on the Coronavirus Relief Fund can be sent hereFor any other questions or concerns, please contact Nicholas Lovesee, Senior Policy Advisor, at

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