Circular 74b
How to Make Statutory License Royalty EFT Payments via ACH Credit
Table of Contents
- Electronic Royalty Payments
- Procedure to Make an EFT Payment Via ACH Credit
- How to File the Statement of Account
- For Further Information
Electronic Royalty Payments
Cable systems, satellite carriers, and digital audio recording technology (DART) manufacturers and importers under the copyright statutory licenses must make their royalty fee payments by using electronic funds transfer (EFT). See the Federal Register, August 10, 2006 (71 fr 45739). An EFT payment provides advantages to the remitter and the Copyright Office as the agency responsible for the collection and distribution of the royalty fees. EFTs can be transmitted either as an Automated Clearing House (ACH) credit or a Fedwire (“wire”) transaction depending upon how you arrange the transfer through your financial institution, or as an ACH debit using the U.S. Treasury Department Financial Management Service’s webbased remittance system, Pay.gov. This circular contains instructions on how to originate an ACH credit through your financial institution.
Procedure to Make an EFT Payment Via ACH Credit
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Contact your financial institution to determine if it is capable of originating ACH payments. Many financial institutions offer personal computer-based ACH origination programs that allow you to input payment information directly into the prescribed format and to transmit the information to the financial institution.
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Do not send a prenotification.
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Settlement of the ACH must occur by the appropriate filing deadline. Settlement generally occurs the banking day after the ACH transmission. Check with your financial institution on timing to avoid interest payments.
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Provide your financial institution with the specific instructions below so that the ACH can be transmitted:
Financial Institution: Federal Reserve Bank of Richmond Location: 701 E. Byrd Street, Richmond, VA 23219 Receiving ABA Number: 051036706 Account Number: 303017 Account Name: Register of Copyrights Adenda Record: See “Payment-Related Instructions”
Payment-Related Instructions
The accounting period, number of statements of account, type of royalty payment (cable, satellite, or DART), and legal name of the owner of the cable system (and first community and state served from one statement of account), satellite carrier, or the DART manufacturer or importer covered by the electronic transfer must be provided here.
Example: APC-952/NSA-00001/TOF-Cable/LNR-ABC CABLE CO (ALBANY NY)/
A description of subfields and their order for payment-related information follows:
Subfield Description
| apc- | A 3-digit subfield indicating the accounting period covered by the electronic transfer. The second accounting period for 1995 is indicated by “952.” If the payment covers multiple accounting periods use “map” as the subfield and indicated on the cover letter the accounting period for each statement. |
| nsa- | A 5-digit subfield with leading zeros representing the number of statements of account the transfer covers, “00001” for 1 statement and “00095” for 95 statements. |
| tof- | Indicates the type of royalty fee payment (i.e., cable, satellite, or DART). |
| lnr- | The last subfield is for the legal name of the owner of the cable system or satellite carrier or the DART manufacturer or importer covered by the electronic transfer payment and one “community served” if a cable system. |
| Note: All subfields in the payment related information area must end with a “⁄ ”. The remitter should inform the financial institution that transmits the EFT to use care and ensure that all information is provided in the prescribed format. Failure to provide the information in the prescribed format may cause a delay of the transfer. |
How to File the Statement of Account
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The royalty fee must be remitted by electronic payment, and the related statement(s) of account must be filed by the appropriate deadline.
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A remittance advice must accompany the statements of account and be emailed or faxed to the Licensing Division indicating:
- The remitter’s name and address
- The name of a contact person, telephone number and extension, and email address
- The actual or anticipated date that the EFT will be transmitted
- The type of royalty payment (i.e., cable, satellite, or DART)
- The total amount to be submitted via an EFT
- The total amount to be paid by year and period
- The number of statements of account that the EFT covers
- ID number(s) assigned by the Licensing Division
- The legal name of the owner for each statement of account
- Identification of the first community served (city and state) (for cable systems only)
If additional information is needed concerning royalty payments via electronic transfer, you may contact a Financial Specialist on weekdays (except for federal holidays) between 8:30 am and 5:00 pm eastern time at:
Library of Congress
Copyright Office
Licensing Division
101 Independence Avenue SE
Washington, DC 20557-6400
phone: (202) 707-8150
fax: (202) 707-0905
email: licfiscal@loc.gov
web: www.copyright.gov
Important:
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Statements of account and electronic funds transfers received after the filing deadline are subject to an interest assessment.
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Failure to follow these instructions may result in return of the royalty fees to the remitter’s account.
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The Library of Congress, United States Copyright Office, Licensing Division is an agency of the United States government and is exempt from backup withholding (Taxpayer identification number: 53-6002532).
For Further Information
Information via the Internet
Circulars, announcements, regulations, other related materials, and all copyright application forms are available from the Copyright Office website at www.copyright.gov.
Information by telephone
For general information about copyright, call the Copyright Public Information Office at (202) 707-3000. The TTY number is (202) 707-6737. Staff members are on duty from 8:30 am to 5:00 pm, eastern time, Monday through Friday, except federal holidays. Recorded information is available 24 hours a day. Or, if you know which application forms and circulars you want, request them 24 hours a day from the Forms and Publications Hotline at (202) 707-9100. Leave a recorded message.
Information by regular mail
Write to:
Library of Congress
Copyright Office
Publications Section
101 Independence Avenue SE
Washington, DC 20559-6000
Circular 74b, Revised September 2006
This electronic version has been altered slightly from the original printed text for website presentation. For a copy of the original circular, consult the PDF version or write to Copyright Office, 101 Independence Avenue SE, Washington, DC 20559-6000.