According to the Wall Street Journal, which cited sources familiar with the matter, the bank has been looking to pay back the chief executive officer at Berkshire Hathaway since October last year.
He made the investment in the firm's stock during October 2008, a move which increased confidence in Goldman during the credit crisis and helped it raise a further $5 billion from its investor-base the following day.
Goldman Sachs is now looking to repay the investment as Mr Buffett has generated an estimated $1 billion in dividends during the two years since the original investment was made.
The delay is due to the Federal Reserve being unwilling to grant approval to the repayment until it has drawn up legislation dealing with dividend-increases for financial institutions in the US, the journal reported.
It is thought that paying back Mr Buffett would enable Goldman to save dividend payments of ten per cent per year on the investment.
Meanwhile, Bloomberg recently reported that Goldman Sachs has stopped providing clearing services for clients managing less than $5 million.
By Jim Ottewill