Answer:
The answer depends on the Settlement Date for the original PPD transaction. If the Settlement Date was 6/23/11, the R01 return of the transaction should have been available for your pickup from your ACH operator at the opening of business on 6/27/11, the second banking day following the Settlement Date. If the Settlement Date of the PPD entry was 6/24/11, your receipt of the R01 on 6/28/11 was timely.
Review the PPD transaction to find out its Settlement Date. According to NACHA rules, the Settlement Date will be the same as the Effective Entry Date you included in the entry unless the Effective Entry Date is the same date as the processing date of the originating ACH operator (or earlier). In such cases, the Settlement Date is advanced to be the banking day that follows the ACH operator's processing date. Since you submitted the PPD on 6/23, the Settlement Date would have been 6/24/11. That makes it likely that the return was not late.
First published on BankersOnline.com 7/18/11
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