Your obligation to respond within three business days to claims of ACH non-receipt

April 1, 2021

As of result of the unprecedented payment volumes generated by Economic Impact Payments issued in 2020 and 2021, financial institutions are reminded of the importance of their timely responses to and cooperation with the U.S. Department of the Treasury’s Bureau of the Fiscal Service (Fiscal Service) claims of ACH non-receipt (FS Form 150.1 (Off-site)).

Per Chapter 3 (Off-site) of Fiscal Service’s Green Book (Off-site), financial institutions are expected to complete and return the Financial Institution section of the FS 150.1 form within three (3) business days of receiving the form from Fiscal Service.

The responses provided by financial institutions are critical to ensuring payment statuses and payee records for issuing agencies, such as the Internal Revenue Service, are up to date.

As stated on page 3-2 of the Green Book, Receiving Depository Financial Institutions (RDFIs) can be held liable for ACH payments that are not processed correctly or in a timely manner. If the federal government sustains a loss as a result of a financial institution’s improper handling of an entry, the financial institution is liable to the federal government for the loss, up to the amount of the entry.

FS Form 150.1 can be mailed to:

U.S. Department of the Treasury
Bureau of the Fiscal Service
P.O. Box 603
Bensalem, PA, 19020-9921

Or alternately faxed to:

F: (215) 516-8190
F: (215) 516-8071

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