Federal Government Reclamations 2022 | Southern Financial Exchange (SFE) | 13 May 2022 | Online

The Federal Government uses Reclamations to recover benefit payments made via ACH to an account of a recipient who died or who has become legally incapacitated. Timing and accuracy are crucial when dealing with this sensitive process. Under 31 CFR 210, your Fed accounts may be debited the full amount of Reclamations if proper procedures are not followed, but a few simple procedures can dramatically reduce your financial institution’s liability.