REVENUE MEMORANDUM ORDER NO. 29-2016 issued on June 27, 2016 revises the guidelines and procedures in the designation, assignment of Revenue Collection Officer (RCO) codes and issuance of fidelity bonds for RCOs authorized to accept tax returns and collect tax payments. Only revenue personnel (Collection) item shall be designated and assigned as RCO by the applicable approving officer authorized under the provisions of this Order, except revenue personnel designated as Special Collecting Officers who are duly authorized to receive tax collections, such as cash proceeds from loose documentary stamps. However, in cases of nonavailability of other collection revenue officers to discharge the functions of RCO, non-collection Revenue Officers under the concerned Revenue District Office (RDO) may be designated under the following instances: a. Absence of the RCO assigned to his or her designated area due to prolonged sickness, temporary physical disability or duly approved leave of absence; b. Death or permanent physical disability of the concerned RCO; and c. Temporary re-assignment to another location of the duly designated RCO. The appropriate RCO code shall be assigned to all duly designated RCOs, whether as new, permanent or temporary capacity, by filing with the Chief, Collection Programs Division the revised request form (Annex “A”) prescribed under Revenue Memorandum Order (RMO) No. 4-2007. The same form shall be used for any update and/or change or cancellation in the assignment of the concerned RCO, as prescribed by the same RMO. For all RCOs who shall be assigned to receive and handle internal revenue taxes, including the prescribed remittance thereof to the Authorized Government Depository Bank (AGDB), a fidelity bond shall be requested and issued to the duly designated RCO in the amount of not more than ONE HUNDRED MILLION PESOS (P100,000,000.00), pursuant to the provisions of Treasury Circular No. 02-2009 issued by the Bureau of Treasury (BTr). For purposes of determining the proper amount of the fidelity bond, whether for the initial bond for newly-designated RCO or for increasing or decreasing the same, the schedule relative to the amount of collection and frequency of deposits prescribed under No. 1.III. Policies and Guidelines of RMO No. 21-2014 shall be strictly observed. In the event that the designated RCO shall have in his/her custody internal revenue taxes prior to depositing the same with the AGDB exceeding the existing amount of the fidelity bond, the appropriate written application for increasing the amount of his/her bond shall be filed with the BTr within twenty four (24) hours immediately after the date of deposit of the said taxes with the AGDB. The applicable provisions of existing Treasury Circulars shall govern the request for the initial fidelity bond, renewal, increase or decrease, as well as the cancellation of the same, including the payment of the corresponding premiums therefor, as well as the enforcement of the said bond when the need thereof arises. The respective Administrative and Human Resource Management Division (AHRMD), in coordination with the Finance Division of the BIR Revenue Regions, shall monitor the amount of the respective fidelity bond of the RCOs under their respective jurisdiction. For this purpose, the copies of the Cash Receipts Record prescribed under the provisions of the Government Accounting Manual for National Government Agencies issued by the Commission on Audit covering the days of Monday to Friday of every week shall be transmitted by the Chief, Finance Division to the Chief, AHRMD on Monday of the immediately subsequent week.