For application of monthly advance payments to residents of Puerto Rico, see subsection (b)(1)(A). . (B) Conforming amendments Subparagraph (C) of section 7527A(e)(4) of such Code is amended by striking with respect to taxable years beginning in 2021 both places it appears in clauses (i) and (ii) and inserting with respect to any taxable year . (5) Administrative provisions (A) In general Subsection (e) of section 7527A of such Code is amended by adding at the end the following new paragraph: (5) Assignment of benefits (A) In general The right of any person to any applicable payment shall not be transferable or assignable, at law or in equity, and no applicable payment shall be subject to, execution, levy, attachment, garnishment, or other legal process, or the operation of any bankruptcy or insolvency law. (B) Encoding of payments In the case of an applicable payment described in subparagraph (E)(iii)(I) that is paid electronically by direct deposit through the Automated Clearing House (ACH) network, the Secretary of the Treasury (or the Secretary's delegate) shall— (i) issue the payment using a unique identifier that is reasonably sufficient to allow a financial institution to identify the payment as an applicable payment, and (ii) further encode the payment pursuant to the same specifications as required for a benefit payment defined in section 212.3 of title 31, Code of Federal Regulations. (C) Garnishment (i) Encoded payments In the case of a garnishment order that applies to an account that has received an applicable payment that is encoded as provided in subparagraph (B), a financial institution shall follow the requirements and procedures set forth in part 212 of title 31, Code of Federal Regulations, except— (I) notwithstanding section 212.4 of title 31, Code of Federal Regulations (and except as provided in subclause (II)), a financial institution shall not fail to follow the procedures of sections 212.5 and 212.6 of such title with respect to a garnishment order merely because such order has attached,