Abrigo

MAY 20, 2020

FinCEN issued an advisory on May 18, 2020 to alert financial institutions to medical scams related to the COVID-19 pandemic as well as new SAR key terms for reporting these scams. Crisis Business Membership Strategy in 2020: Adapting Technology and Executing in the New Normal. C&I Loans. Lending & Credit Risk. SBA Lending.

Transactions 78

Transactions Electronic Funds Transfer Credit Risk 78

Fundera

MARCH 14, 2019

January 15, 2020 (covering the period from September 1 to Dec. Businesses are required to use electronic funds transfer ( EFTPS ) to make all federal tax deposits. This year’s deadlines for quarterly business tax payments are: April 15, 2019 (covering the period from January 1 to March 31). Employment Tax Deadlines.

Electronic Funds Transfer 81

Electronic Funds Transfer Small Businesses Deductions 81

Fundera

APRIL 14, 2020

Fortunately, most small businesses only have to concern themselves with 1099-MISC and 1099-NEC (new for 2020). Starting in 2020, nonemployee compensation will be reported on Form 1099-NEC instead of in Box 7 of 1099-MISC. They are not a corporation or an LLC that has elected to be taxed as a corporation.

Electronic Funds Transfer 52

Electronic Funds Transfer Deductions Default Small Businesses 52

Fundera

MAY 22, 2019

This being said, the deadline to file Form 944 is January 31 for the previous tax year—the return covering the 2019 year, therefore, would be due January 31, 2020. Your deposit schedule will depend on the size of your business’s tax liability and must be made by electronic funds transfer.

Electronic Funds Transfer 40

Electronic Funds Transfer Deductions Small Businesses Transactions 40

Abrigo

NOVEMBER 22, 2021

Regulation E, implementing the Electronic Funds Transfer Act (EFTA). Consumer Lending Compliance under Reg Z Violations of TILA/Reg Z were among the most frequently cited violations in 2020, according to the FDIC’s March 2021 Consumer Compliance Supervisory Highlights.

Credit and Collections 78

Credit and Collections Debt Collections Credit Unions Electronic Funds Transfer 78

Abrigo

SEPTEMBER 18, 2020

The advisories were issued May 18, July 7, and July 30, 2020, showing the fluidity of the scams in this unprecedented time. When filing a COVID-19 related SAR, FinCEN requests that SAR field 34(z) (Fraud Other) be selected and the key term “COVID19 MM FIN-2020-A003” in SAR field 2 (Filing Instruction Note to FinCEN) and in the narrative.

Electronic Funds Transfer 78

Electronic Funds Transfer Cybersecurity Transactions Credit Risk 78

Abrigo

MARCH 3, 2021

The same IP address is used to transfer funds from several EIP debit cards to a bank account, especially if that IP address is located outside of the United States or associated with a business. Other frauds and thefts occurring in an account receiving EIPs.

Electronic Funds Transfer 78

Electronic Funds Transfer Debt Collections Transactions 78