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#2255282 - 06/14/21 09:40 PM "Missing" stimulus deposits subject to Error Res?
k8e Offline
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Joined: Sep 2012
Posts: 108
If the IRS informed a client that their Stimulus Payment (EIP 1-3) was deposited to their account on such-a-such date, and the client contacts us after that date stating the deposit to their account is missing...is that subject to Reg E Error Res investigation, timing, and notices?

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#2255284 - 06/14/21 11:25 PM Re: "Missing" stimulus deposits subject to Error Res? k8e
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 76,929
Galveston, TX
Yes - a missing deposit is a Regulation E error - however you are limited to investigating your own records to see if you received it. Do they have a record to which deposit account they instructed them to deposit it to?
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#2255326 - 06/15/21 05:32 PM Re: "Missing" stimulus deposits subject to Error Res? k8e
John Burnett Offline
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John Burnett
Joined: Oct 2000
Posts: 39,285
Cape Cod
If the IRS informed them, it should also inform them of the date the payment should have been credited and the last four digits of the account number. That should take you right to the correct places in your account records and ACH files.
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John S. Burnett
BankersOnline.com
Fighting for Compliance since 1976
Bankers' Threads User #8

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