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#2176491 - 05/03/18 03:03 PM Health Savings Accounts Reporting
KYAuditor Offline
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KYAuditor
Joined: Jan 2003
Posts: 138
Kentucky
We just funded our first health savings accounts. The accounts are interest-bearing. I am assuming they are reported as transaction accounts on Schedule RC-E of the Call Report and in calculating our reserve requirement. Are they also included in Line 10 on RC-K with NOW accounts and other transfer accounts?
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#2176497 - 05/03/18 03:11 PM Re: Health Savings Accounts Reporting KYAuditor
rlcarey Offline
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rlcarey
Joined: Jul 2001
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Galveston, TX
The name of the account is irrelevant. What are they? NOW or savings accounts?
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#2176545 - 05/03/18 05:53 PM Re: Health Savings Accounts Reporting rlcarey
KYAuditor Offline
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Kentucky
They are neither--it is an interest-bearing transaction account. It does not exactly fit any of the description for Line 10 of Schedule RC-K so I wasn't sure if it should be added to what is currently NOW accounts on that line.
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#2176548 - 05/03/18 06:00 PM Re: Health Savings Accounts Reporting KYAuditor
rlcarey Offline
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rlcarey
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Galveston, TX
RC-K Item 10 Interest-bearing transaction accounts (in domestic offices). Report the quarterly average for interest-bearing transaction accounts (in domestic offices): interest-bearing demand deposits, NOW accounts, ATS accounts, and telephone and preauthorized transfer accounts (as defined for Schedule RC-E, (part I,) column A, "Total transaction accounts").
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#2176549 - 05/03/18 06:00 PM Re: Health Savings Accounts Reporting KYAuditor
John Burnett Offline
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John Burnett
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Cape Cod
An interest-bearing transaction account can be either a demand deposit (DDA) or Negotiable Order of Withdrawal (NOW) account. If your deposit agreement includes a reservation of right to require 7 days' notice of intent to withdraw, it's a NOW account. If there is no such provision, it's a DDA.
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#2176550 - 05/03/18 06:10 PM Re: Health Savings Accounts Reporting John Burnett
KYAuditor Offline
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KYAuditor
Joined: Jan 2003
Posts: 138
Kentucky
Thank you--I will read the agreement.
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#2176557 - 05/03/18 06:26 PM Re: Health Savings Accounts Reporting KYAuditor
rlcarey Offline
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rlcarey
Joined: Jul 2001
Posts: 79,283
Galveston, TX
It doesn't really matter - it only matters if it is an actual savings account versus a transaction account for RC-K reporting.
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