Processing ACH payments from the Federal Government can be challenging! In April 2020 there were updates to 31 CFR Part 210, which meant an update to the Green Book as well. This session will outline those details! Included will be the process for deceased account holders and your responsibilities to the Federal Government if they are receiving benefit payments.
The NACHA Operating Rules still apply when processing these payments but the Green Book outlines exceptions when handling DNEs (Death Notification Entries) and Federal Government Reclamations. A side by side comparison of Commercial vs. Government Reclamations will be included to know what the difference is and how to handle each one.
Processing ACH Federal Government payments differ slightly from the NACHA Operating Rules when it comes to benefit payments and the liability of the RDFI (Receiving Depository Financial Institution). There are updates (effective April 2020) to 31 CFR Part 210. The Green Book was also updated in 2020.
This 90-minute session will provide the details on what is different and how the Federal Government has adopted the NACHA Operating Rules and what the exceptions to those Rules incorporate for the Federal Government. You will learn what the Green Book is and how this valuable online tool will help you with processing DNE’s and Government Reclamations. Commercial Reclamations differ from Federal Government Reclamations; the speaker will cover the difference between the two, which also discusses the liability for the RDFI when handling both these types of reclamations. Examples used throughout the session will apply the rules discusses to help bring the details to life.