Treasury Services

Treasury announces the elimination of fax as a delivery option for check reclamations

April 15, 2012

In an effort to provide financial institutions with a more efficient and streamlined alternative to fax delivery, the Notice of Direct Debit (U.S. Treasury Check Reclamation) RECC and six other associated advices and reports will begin to be delivered to financial institutions via email delivery only.

This initiative will take place over the next several months. The Federal Reserve Banks will identify impacted financial institutions and then notify current fax and email recipients of these reports at the appropriate time to help ensure a smooth and timely transition.

 Reports that will no longer be delivered via fax are:

1. RECC – The Notice of Direct Debit (U.S. Treasury Check Reclamation) provides the ability to receive check reclamations and reports electronically;
2. CORA – The 1099C Cancellation of Debt Items provides uncollected amount of receivables at the end of the calendar year;
3. CORB – The Annual Corrected Cumulative Notice of Discharged Debt report that provides canceled debt at the end of February with modifications that will be reported to the IRS on Form 1099C;
4. CORC – The Annual Corrected 1099C Cancellation of Debt Items report that provides the uncollected amount of receivables at the end of February with Annual 1099C data modifications;
5. CORM – The Cumulative Notice of Discharged Debt monthly report of canceled debt that will be reported to the IRS on Form 1099C;
6. CORS – The Summary of Debt Statement monthly report of outstanding check reclamations and associated information;
7. CORW – The Abandonment Notice weekly report of check reclamations that have been abandoned.

Impacted institutions will be asked to complete the FedMail^® Request Form

Once contacted, financial institutions currently set up only for fax delivery will be asked to set up email addresses within 30 days of notification in order to continue to receive these notices. Page 1 of the Federal Reserve Bank FedMail Request Form (PDF) will need to be completed along with the Treasury Check Reclamations section at the top of page 5. In the same section, the fax number(s) associated with each institution that need to be deleted should be listed. The form must be signed by an authorized approver then submitted to the Customer Contact Center (CCC).

Similarly, financial institutions currently set up for both email and fax delivery will need to determine the number of individual recipients at each institution who need to continue to receive these notices and if the recipients via email are sufficient to process their reclamation volume. Should existing email recipients need to be modified, or additional email recipients need to be established, page 1 of the FedMail Request Form (PDF) will need to be completed along with the Treasury Check Reclamations section at the top of page 5. The form must be signed by an authorized approver then submitted to the CCC. The Federal Reserve Banks will automatically remove the fax number(s) associated with these institutions that are set up for both email and fax delivery 30 days from notification.

For contingency purposes, financial institutions should consider setting up a shared group email address that can be accessed by multiple recipients.

Please direct all questions about this change to TRS.RECL@phil.frb.org. 

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