Reclamation & Treasury

Question 1

List the situations in which a Treasury-disbursed Federal payment must be returned.

Answer 1

Account closed, No Account, Invalid Account, Death, Account Frozen, File Record Edit Criteria

Question 2

What types of Federal payments are subject to Reclamation?

Answer 2

Recurring benefit payments (contains XX’s)
Ex. SSA, SSI, Black Lung, Military, VA, Railroad, etc.

Question 3

Treasury will reclaim post-death payments within __?__ prior to the date of the notice of reclamation – with one exception.

Answer 3

six years

Question 4

An RDFI may limit its liability for post-death payments under what circumstances?

Answer 4

• No actual or constructive knowledge of death at the time of the deposits or withdrawals of post-death deposits
• All post-death payments are returned after RDFI learns of death
• RDFI responds completely and accurately within 60 days of date on Notice of Reclamation.

Question 5

RDFI liability can be limited to the amount of the account balance at the time the RDFI first received notice of death plus the amount of all post-death benefit payments received within __??__ following death.

Answer 5

45 calendar days

Question 6

An RDFI must immediately return __?__ received after the RDFI becomes aware of the death or legal incapacity of a recipient.

Answer 6

any post death benefit payments

Question 7

Which form number may be used to enroll a consumer in Direct Deposit of Social Security benefits?

Answer 7

SF 1200

Question 8

What form can the Federal Government use to enroll vendors in the FEDI program?

Answer 8

SF 3881

Question 9

What is the name given to the master list of financial institutions that receive Federal Government ACH payments?

Answer 9

Financial Organization Master File

Question 10

Form the Federal Government uses when tracing a lost Federal Government Payment?

Answer 10

FMS 150.1

Question 11

Which of the following is not included in the addenda record of a Death Notification Entry?
a. Date of Death
b. Social Security Number
c. Date of Enrollment
d. Amount of Payment

Answer 11

c. Date of Enrollment

Question 12

Which of the following Federal Government payments is Not subject to reclamation?
a. Social Security Benefit
b. Veterans Benefit
c. Supplemental Security Income
d. IRS Tax Refund

Answer 12

d. IRS Tax Refund

Question 13

How long does a Federal Government agency have to initiate a Notice of Reclamation?

Answer 13

120 CALENDAR days after receiving NOTICE of death

Question 14

What is the timeframe for response to a Notice of Reclamation?

Answer 14

60 days

Question 15

For which of the following reasons can a Notification of Change NOT be done for a Federal Government benefit payment?
a. Change a transaction code
b. Change an account number
c. Correct an account number
d. Change name of beneficiary

Answer 15

d. Change name of beneficiary

Question 16

A government agency benefit payments that is exempt from the Garnishment Rules will have __?__ encoded in Positions 54 and 55 of the “Company Entry Description” Field of the Batch Header Record

Answer 16

“XX”

Question 17

A Federal Tax Refund comes into your FI and shows up on your exception list because the savings account number is 232425 and there is no such savings account number. You should?

Answer 17

Return the entry R04