GN 02402.105: Correcting Routing Transit Numbers (RTNs) and Deposit Account Numbers (DANs)
Effective Dates: 04/24/2015 - Present TN 31 (01-08) GN 02402.105 Correcting RTNs and DANs
- A. Background
There are times when the DAN and RTN on beneficiary records must be changed. This may happen because:
- * The RTN and DAN for a beneficiary was entered incorrectly.
- * Two or more financial institutions (FI) are merging.
- * The FI has purchased one or more branches of another FI.
* The FI's DAN system is being changed.
- * The FI has been assigned a new RTN.
- * The FI is consolidating payment delivery for multiple branches to one location.
- B. Process
1. FI Input
- The FI uses a Notification of Change (NOC) to notify SSA of each RTN and DAN change.
IMPORTANT: The new information (from an NOC) will appear on the Title II or Title XVI record, but it will not lift an S6 or S06 suspense a. Where to Find NOC Instructions The Department of the Treasury's (DT) “Green Book”, Chapter 6, contains NOC instructions for FIs.
- NOTE: An FI or FO may view Treasury's “Green Book” online.
b. How NOCs are Transmitted to SSA FIs transmit NOCs to SSA electronically via the national automated clearinghouse (ACH) system. (The ACH is a computer network maintained by Federal Reserve, through which FIs transmit and receive credits and debits). 2. FO/TSC Input The FO/TSC inputs an RTN/DAN correction initiated by the beneficiary or representative payee. When a beneficiary with a representative payee requests a change or correction in direct deposit, the request is accepted but verified with the representative payee before input. The FI should use a Notification of Change (NOC) to make RTN/DAN changes. When an FI contacts an FO to report an RTN change, the FO: * advises the FI to use NOC procedures, and * asks the FI to contact the servicing Federal Reserve bank.
x← This means that the line was removed and was added – in other words, the "Effective Dates" line at the top of the document has been updated to reflect that the new version is effective as of the date the change was made.