has been served by the United States, that applies to an account into which an applicable payment that has not been encoded as provided in subparagraph (B) has been deposited electronically or by check on any date in the lookback period, the financial institution, upon the request of the account holder, shall treat the amount of the funds in the account at the time of the request, up to the amount of the applicable payment, as exempt under law from a garnishment order without requiring the consent of the party serving the garnishment order or the judgment creditor. (iii) Liability A financial institution that acts in good faith in reliance on clause (i) or (ii) shall not be subject to liability or regulatory action under any Federal or State law, regulation, court or other order, or regulatory interpretation for actions concerning any applicable payments. (D) Definitions For purposes of this paragraph: (i) Account holder The term account holder means a natural person whose name appears in a financial institution’s records as the direct or beneficial owner of an account. (ii) Account review The term account review means the process of examining deposits in an account to determine if an applicable payment has been deposited into the account during the lookback period. A financial institution shall perform an account review following the procedures outlined in section 212.5 of title 31, Code of Federal Regulations, and in accordance with the requirements of section 212.6 of such title 31. (iii) Applicable payment The term applicable payment means any payment of credit or refund by reason of section 6428 of the Internal Revenue Code of 1986 or subsection (c). (iv) Garnishment The term garnishment means execution, levy, attachment, garnishment, or other legal process. (v) Garnishment order The term garnishment order means a writ, order, notice, summons, judgment, levy, or similar written instruction issued by a court, a State or State agency, or a municipality or municipal corporation to effect a garnishment against