P R E S E N T S P R E S E N T S NNeeww AACCHH RRuulleess IImmppaaccttiinngg CCCCoooorrrrppppoooorrrraaaatttteeee UUUUsssseeeerrrrssss © 2013 EPCOR. All rights reserved. This material is not intended to provide any warranties or legal advice, and is intended for education purposes only. NACHA owns the copyright for the NACHA Operating Rules & Guidelines. The Accredited ACH Professional (AAP) is a service mark of NACHA. © 2013 EPCOR. All rights reserved. About the Facilitator Karen Sylvester, AAP, NCP Manager, Compliance & Fraud [email protected] (cid:1) 13 years Financial Institution experience (cid:1) Accredited ACH Professional, 2005 (cid:1) National Check Payments Certification, 2012 (cid:1) Member of International Association of Financial Crimes Investigators (IAFCI) (cid:1) Member of NACHA’s Government Relations Advisory Group (GRAG) © 2013 EPCOR. All rights reserved. 2013 ACH Rules Update Objectives (cid:1) Identify the impacts that the most recently passed ACH Rules have on your institution’s day-to-day ooppeerraattiioonnss (cid:1) Update your financial institution’s policies and procedures as required to ensure compliance with the new ACH Rules And(cid:19)Originators, Third-Party Senders and Third-Party Service Providers © 2013 EPCOR. All rights reserved. FFeeddAACCHH SSaammeeDDaayy SSeerrvviiccee • Provides same day clearing and settlement for forward and Return ACH Entries • Opt-In for RDFI / ODFI • Commercial & Consumer ACH credits and debits • All SEC Codes, except IAT/TRC/TRX • $25,000 on ARC/BOC/POP •• $$22,,550000 RRCCKK//XXCCKK • Place today’s date in Effective Entry Date field • Deposit the FRB by 2:00 pm ET / Output files at 4:00 pm ET / Settlement at 5:00 pm ET • Returns deposit by 4:30 pm ET / Output files at 5:00 pm ET / Settlement at 5:30 pm ET • All ACH Rules apply to these entries • www.frbservices.org/help/fedach_sameday © 2013 EPCOR. All rights reserved. Third-Party Tax Payments Operations Bulletin Effective January 1, 2013 (cid:1) New TPP banking convention to standardize remittance information to state revenue authorities (cid:1) Uses: • Payroll service providers making quarterly employment tax payments • Income withholding payments made by a pass-through entity on behalf of a nonresident partner • Garnishments and other levies © 2013 EPCOR. All rights reserved. High-Risk Originators and Questionable Debit Activity Operations Bulletin (cid:1) Published March 13, 2013 •• RReessuulltteedd ffrroomm iinnaaccccuurraattee media attention to payday lenders • Highlights roles of ODFIs and RDFIs in the ACH network © 2013 EPCOR. All rights reserved. IAT Changes Effective March 15, 2013 (cid:1) Expand use of R16 return reason code (cid:1) New Return Reason Code – R85 (cid:1) New NOC Code – C14 (cid:1) Corrected Data for IAT Entries (cid:1) ODFI Warranties - Compliance with Foreign Payment System Rules © 2013 EPCOR. All rights reserved. RReessttrriiccttiioonnss oonn DDaattaa PPaassssiinngg Effective March 15, 2013 (cid:1) ODFI must not disclose the RReecceeiivveerr’’ss aaccccoouunntt nnuummbbeerr and routing number to any third-party to initiate a separate debit entry. © 2013 EPCOR. All rights reserved. RReessttrriiccttiioonnss oonn DDaattaa PPaassssiinngg Effective March 15, 2013 (cid:1) ODFI must ensure Originators aanndd aannyy TTPPSSPPss aaccttiinngg oonn behalf of the ODFI or its Originators not disclose the Receiver’s account number and routing number to any third-party to initiate a separate debit entry. © 2013 EPCOR. All rights reserved.