Registration of IAT Contacts in the ACH Contact Registry
This Rule will require a Participating DFI to register their IAT- handling contact with either:
The name, title, email address, and phone number for at least one primary and one secondary contact person for the area of responsibility; or
Department contact information that includes an email address and a working telephone number.
Details
This Rule will require a Participating DFI to register their IAT- handling contact with either:
- The name, title, email address, and phone number for at least one primary and one secondary contact person for the area of responsibility; or
- Department contact information that includes an email address and a working telephone number.
Phone numbers and email addresses must be those that are monitored and answered during normal business hours for financial institution inquiries.
These are the same as the existing requirements for required contact registration fields (ACH Operations and Fraud/Risk Management).
If the same parties handle multiple functions, the parties may be repeated as contacts in the database as applicable. For example, an FI may use the same contact for IAT as for ACH Operations if that accurately reflects its internal processes.
Additionally, if a DFI has a specialized task/contact, there is free-form space available for the FI to add that information.
Technical
This amendment will become effective January 1, 2027.
Under this rule, Section 1.14 (Participating DFI Contact Registration) will be updated to include International ACH Transaction (IAT Entry) handling, in addition to the existing ACH operations; and fraud and/or risk management.
All existing requirements will apply to all contact types including:
- Information required for registration.
- Update and verification requirements.
- Information to be used internally only by permissive parties.
Impact
Anticipated Benefits
All ACH Network participants involved in IAT processing will benefit from this amendment by a reduction in time in determining who and how to contact another financial institution regarding an exception with an IAT Entry.
- Non-FI participants, such as Originators and Receivers, will benefit by faster processing of their international payments.
Potential Impacts
Impacts of this amendment are anticipated to be limited to the addition of IAT handling contact information to the registry and maintenance with the existing contact information required of every Participating DFI.
- All Participating DFIs are currently required to have ACH operations and risk/fraud management contacts registered, updated within 45 days of a change and verified annually.
