An economical fat, oil and grease removal assembly and method includes a container having a bottom, a top, at least one sidewall, an inlet and an outlet. The outlet is spaced above the bottom and below the top to define a static water level for liquid in the container. The container may include at least one divider. The container further includes a valve at an elevation such that F.O.G. floating on water in the container can flow from the container out through the valve when a valve control is engaged and opened. The assembly further includes an inlet baffle, an outlet baffle and a removable storage tank arranged to accept F.O.G. that is flowed out of the container.