Industry Alerts

Industry Alerts

Industry Alerts provides member financial institutions with critical information; such as changes to the NACHA Operating Rules, Requests for Comment, notices from Treasury, NEACH cancellations, and other important and often time-sensitive information. This is a members-only resource. Login for access.  


ALERT: EIPs by ACH Are In Process; Effective Date is January 4, 2021

The IRS and the U.S. Treasury have confirmed that 113 million EIPs by ACH are being processed this week, with an effective date of Monday, January 4, 2021. Under the Nacha Rules, RDFIs must make funds available by 9:00 a.m. (RDFI local time) on January 4. The EIPs by ACH will be identified with a Company Name of “IRS TREAS 310” and a Company Entry Description of “XXTAXEIP2”.

Additional Frequently Asked Questions have been added to the Nacha website to reflect this new public information.

The IRS also confirms that additional EIPs by check will begin to be mailed today, December 30. The estimated check volume is 5 to 7 million per week.

IRS Press Release 

EIP FAQs (Updated Dec. 30)

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