GN 02402.105: Correcting Routing Transit Numbers (RTNs) and Deposit Account Numbers (DANs)
Effective Dates: 01/17/2018 - Present
- TN 89 (01-18)
- GN 02402.105 Correcting Routing Transit Numbers (RTNs) and Deposit Account Numbers (DANs)
- A. Background
There are times when the DAN and RTN on beneficiary records need updated. 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 has 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 a 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
- Chapter 6 of the Department of the Treasury's (Treasury) “Green Book”, 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 Automated Clearing House (ACH) system. (The ACH is a computer network maintained by the Federal Reserve, through which FIs transmit and receive credits and debits).
- 2. Field office (FO) and teleservice center (TSC) input
The FO and TSC inputs an RTN and DAN correction initiated by the beneficiary, recipient or representative payee. When a beneficiary or recipient with a representative payee requests a change or correction in direct deposit, verify that the payee is still acting prior to inputting the new information.
- The FI should use a NOC to make RTN and DAN changes. When a FI contacts a FO to report a RTN change, the FO advises the FI to use NOC procedures and asks 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.