FedACH Risk® Returns Reporting Service Setup
Thank you for choosing the FedACH Risk Returns Reporting Service, provided via the FedACH Information Service on the FedLine Web® Solution. We are ready to work with you to make this a smooth and easy transition. Following are the steps to take to streamline your implementation process, including contacts to help you with questions at any step along the way. Depending on the FedLine® Solution and services to which you already subscribe, you may be able to omit several of these steps. Read the steps carefully to determine which apply to you. If you need advice or assistance at any step of the process, consult your relationship manager.
Step 1 – Assess Your Access Needs
Use the following links to determine which FedLine Solution provides the services/features your organization needs and the number and type of Subscribers who will need access to those solutions in your organization. If you transact FedACH files, you will access the FedACH Risk Returns Reporting Service, provided as part of the FedACH Information Service, through FedLine Advantage. If you outsource your ACH processing, you will access the service via FedLine Web.
- Review the 2024 FedLine Solutions Services Comparison Matrix (PDF)
- Determine FedACH Subscriber Access Levels needed
- Review your security and contingency procedures to ensure that appropriate safeguards are in place when using any FedLine Solution
Step 2 – Review Rules and Regulations
Federal Reserve Financial Services use is governed by applicable Operating Circulars. In addition, the Board of Governors of the Federal Reserve System has responsibility for implementing certain laws pertaining to a wide range of banking and financial activities. The following apply to FedACH Services:
- Operating Circular 4: ACH Items – governs clearing and settlement of commercial ACH credit and debit items
- Operating Circular 5: Electronic Access – covers terms for electronically accessing Federal Reserve Financial Services
- Regulation E – primarily addresses consumer rights pertaining to electronic funds transfers
- Regulation CC – includes regulations concerning availability of funds
Provides information regarding annual ACH rule changes, their operational impact and whether any software changes are required; includes a system of national fines; available through NACHA or your Payments Association (Off-site)
A comprehensive guide for institutions that receive ACH payments from the federal government and send payments (i.e., collections) to the federal government.
Step 3 – Review Hardware/Software Requirements
Evaluate all internal software/hardware systems and compare to Federal Reserve Bank requirements to determine if changes are needed for a successful production cutover.
Step 4 – Complete Forms/Agreements
Now that you've determined your FedLine® Solution, service features and Subscriber needs, you can proceed to document all your decisions in the required forms.
- Ensure that your organization has submitted Certificate of Resolution and Official Authorization List (OAL) using the standard form required by the Federal Reserve Banks
- If you are not yet signed up for FedACH Information Services, which is how you will access the Returns Reporting Service, contact your relationship manager.
Current FedLine customers:
- FedACH Information Services Subscribers automatically have access to the FedACH Risk Returns Reporting Service. Ensure that all staff needing access to this service has been assigned the proper FedACH Subscriber access levels.
- An End User Authorization Contact (EUAC) with authority to manage access for FedACH Services should submit a Subscriber request via the EUAC Center within FedLine Home to give new Subscribers access or to modify current Subscribers' access to include FedACH Information Services, which gives you access to the Returns Reporting Service. EUACs must define access levels for each FedACH Subscriber in your organization.
Questions? Contact FedACH and Check Services Customer Support.
- Otherwise, your organization must first submit a modified EUAC Form (PDF) to authorize your EUAC to manage access for FedACH Services.
Questions? Contact the Support Center
New FedLine Customers:
Questions? Contact the Support Center
Step 5 – Schedule Testing and Production Date
Once your paperwork is received, a representative from the Federal Reserve Banks will call you to establish a testing schedule and production date. Testing requirements will vary based on the services you have selected.
Questions? Contact your relationship manager.
Step 6 – Congratulations! Begin using your new Federal Reserve Financial Services
You can begin using the FedACH Risk Returns Reporting Service.