Reclamations

Contents

Section 1. Background

Section 2: Liability of a Receiving Depository Financial Institution (RDFI)

A. Full Liability

Conditions for Full Liability

B. Limiting Liability

Conditions for Limiting Liability
Exception to Liability Rule

C. Calculating the Limited Liability Amount

45-day Liability Amount
Calculating the Limited Liability Amount: Example 1
Calculating the Limited Liability Amount: Example 2

Section 3: Reclamation Procedures

A. Notification of Death

Applicable Federal Regulation 31 CFR 210
What to do upon Notification of Death
Holding Payments
Repayment by Survivors
Handling Survivor Requests

B. Notice of Reclamation

Notice of Reclamation (FMS-133)
Sample (FMS-133)
General Reclamation Guidelines
Incomplete or Inadequate RDFI Replies
How to Respond to the Notice of Reclamation
Steps to Take Under Full Liability
Steps to Take Under Limited Liability
Time Limits for Federal Reclamations
Follow-up to the Notice of Reclamation (FMS-2942)
Federal Agency Collection from Withdrawers
Debit of the RDFI's Account (FMS-135)
Sample (FMS-2942)
Sample (FMS-135)
How to Prevent or Limit the Amount of a Debit to the Federal Reserve Account

C. Errors in Death

If the Person did not Die
Types of Evidence
Accepting the Proof
Rejecting the Proof
Restarting Payments
If the Date of Death is Wrong
Day of the Month is Wrong
Month or Year is Wrong
Learning of an Error After Completing a Reclamation
Worksheet for Adjusting the Outstanding Total if the Date of Death is Wrong

D. Subsequent Reclamations

What to do
Previous Debit

E. Contacts

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