Details
 

January 29, 2015
1:00PM - 2:00PM

Tax Refunds:

ACH Postings, Exceptions & FI Liability

Webinar

Member $199 | Non-member $398

In 2014, the average IRS tax refund was $3,034 and over 80% of these were via Direct Deposit.  With these large dollar items and an ever increasing volume, it is imperative that your financial institution handle tax refunds with the utmost care and caution to avoid losses that can be caused by not understanding the unique requirements of IRS tax refunds.  These requirements address account number/name matching situations, deceased recipients, refunds posting to incorrect accounts, and refunds as exception items.  This session will cover the rights and obligations of the financial institution, accountholder, and tax preparer.

We'll cover:

  • What happens when the name and account number do not match?
  • What happens if the account is closed?
  • What happens is the account holder is deceased?
  • What happens if the payments posts to the wrong account and who is at fault?
  • What are the rights and obligations of the RDFI, customer and tax preparer?
  • Ensure you handle these exceptions correctly to minimize the liability of your financial institution. 

BONUS: Handouts will include a Quick Reference for Handling Federal Government Tax Refunds According to the Green Book 

This informative session is designed for ACH Operations, Branch Personnel, Compliance Officers and AAP Candidates

>>  AAP Credits: 1.8

Register Now

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Add to Calendar aCLuDhaqizCaPxAftmqF167204 01/29/2015 01:00 PM 01/29/2015 02:00 PM false Tax Refunds: Member $199 | Non-member $398 In 2014, the average IRS tax refund was $3,034 and over 80% of these were via Direct Deposit.  With these large dollar items and an ever increasing volume, it is imperative that your financial institution handle tax refunds with the utmost care and caution to avoid losses that can be caused by not understanding the unique requirements of IRS tax refunds.  These requirements address account number/name matching situations, deceased recipients, refunds posting to incorrect accounts, and refunds as exception items.  This session will cover the rights and obligations of the financial institution, accountholder, and tax preparer. We'll cover: What happens when the name and account number do not match? What happens if the account is closed? What happens is the account holder is deceased? What happens if the payments posts to the wrong account and who is at fault? What are the rights and obligations of the RDFI, customer and tax preparer? Ensure you handle these exceptions correctly to minimize the liability of your financial institution.  BONUS: Handouts will include a Quick Reference for Handling Federal Government Tax Refunds According to the Green Book  This informative session is designed for ACH Operations, Branch Personnel, Compliance Officers and AAP Candidates >>  AAP Credits: 1.8 Webinar