Automated Clearing House (ACH) Reclamation is a recovery procedure used by the U.S. Department of the Treasury, Bureau of the Fiscal Service, to obtain a refund (reclamation) from a presenting financial institution for federal government payments.
Reclamation notices (ACH Reclamation - FMS Form 133) are generated by the Fiscal Service Regional Financial Center. This session will identify how to complete the Federal Reserve Bank FedMail® Request Form to sign up for this email service. When processing ACH Federal Government payments, they differ slightly from the Nacha Operating Rules when it comes to benefit payments and the liability of the RDFI (Receiving Depository Financial Institution).
Chapter 5 of the Green Book has been updated making it mandatory for Financial Institutions to respond to all reclamations must be submitted through the Automated Reclamation Processing System (ARPS). Also noted in the Green Book -- Note: We will no longer accept remittances related to reclamation responses. Included will be a discussion on the process for deceased account holders and your responsibilities to the Federal Government if they are receiving federal government benefit payments. This 90-minute session will provide the details on what is different, 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 on-line 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 discussed to help bring the details to life.
By DONNA K OLHEISER