Custodians failing to deposit moneys; persons affected
Official text prohibited actmental stateif conditionpenaltylegal term
(a) Whoever, having money of the United States in his possession or under his control, fails to deposit it with the Treasurer or some public depositary of the United States, when required so to do by the Secretary of the Treasury or the head of any other proper department or agency or by the Government Accountability Office, is guilty of embezzlement, and shall be or in a sum equal to the amount of money embezzled, whichever is greater, or imprisoned not more than ten years, or both; but if the amount embezzled is $1,000 or less, he shall be or imprisoned not more than one year, or both.
(b) This section and sections 643, 648, 650 and 653 of this title shall apply to all persons charged with the safe-keeping, transfer, or disbursement of the public money, whether such persons be charged as receivers or depositaries of the same.
History: (June 25, 1948, ch. 645, 62 Stat. 727 (PDF, 39 MB); Pub. L. 103–322, title XXXIII, §330016(1)(H), (2)(G), Sept. 13, 1994, 108 Stat. 2147 (PDF, 52 MB), 2148; Pub. L. 104–294, title VI, §606(a), Oct. 11, 1996, 110 Stat. 3511; Pub. L. 108–271, §8(b), July 7, 2004, 118 Stat. 814.)
Simplified explanation
It is a federal embezzlement crime for anyone holding U.S. government money to fail to deposit it with the Treasury or a public depository when properly ordered to by the Treasury, another agency head, or the Government Accountability Office. The section also makes several related embezzlement laws apply to everyone who keeps, moves, or pays out public money.