TN 13 (05-03)
A. INTRODUCTION - FORT/CCFORT
The FORT controls the mailing of remittances from the FO to the Mid-Atlantic Program Service Center (MATPSC). The FORT establishes a control and audit trail between the receipt of a remittance in the FO and receipt of the remittance in the MATPSC. Under the new process, all remittances received in the FO are sent to the MATPSC, along with the FORT and the payment coupon automatically generated by DMS. DMS generates a separate credit card payment FORT (CCFORT) for all credit card remittance payments received during the day, and that form will accompany credit card payments sent to MATPSC.
B. PROCESS - FORT/CCFORT
The FORTs are generated by the automated system based on remittance clerk or FO management request. It is a printed listing of the remittances for which automated FO receipts were issued that day, or when the processing date was changed.
The remittance supervisor has specific duties related to the FORT (POMS GN 02403.002E.). The remittance supervisor:
Reviews the FORT and CCFORT against all programmatic remittances received and resolves discrepancies,
Ensures that all remittances have an associated coupon,
Ensures that the correct and usable coupon(s) have been included. The scanner in MATPSC relies on the data contained in the scanline. (The scanner can only read a scanline placed 1/2 inch from the bottom of the coupon.) If any corrections were made to the daily receipts, ensure that the most recent coupon is included with the remittance,
Verifies that no unendorsed returned benefit checks are included in the mailing to MATPSC. (These items should be returned to Treasury and are listed on the FODRL. On RFOR these items should be input with reason Code = B (Unendorsed Returned Benefit Check). DMS will then generate an instruction sheet bearing the Treasury addresses),
Verifies that no fee remittances are included in the mailing to the MATPSC,
Mails FORT and CCFORT each day to MATPSC. If the day’s FORT and remittances cannot be mailed the same day that the FORT is produced, they should be secured and mailed the next business day. If remittances come in after FORT is produced, they must be held in a secure location overnight and mailed the next business day.
1. When To Use FORT
The FORT(s) are used to transmit the following:
Title II and title XVI remittances are combined on the FORT.
money gifts from the FO to MATPSC, and
Medicare overpayment refunds in response to a request for assistance from a PSC.
The FORT is normally requested at the end of the day for reconciliation of receipts and forwarding to the MATPSC.
2. When To Use CCFORT
The Credit Card FORT (CCFORT) is used to transmit credit card payments. See GN 02403.006. Be sure to include the DMS-generated coupon indicating the name of the credit card, the credit card account number, and the cardholder's signature. If the remitter presents a RECOOP or ROAR generated coupon, discard it and use the coupon generated by DMS.
Remember to enter the RECOOP bill number in the bill number field of the RFOR screen.
3. When NOT To Use FORT/CCFORT
The FORT/CCFORT is not used:
to transmit fees to the Office of Finance (OF) or to the Office of Earnings Operations (OEO). Use the SSA-414-U3 as discussed in GN 02403.013 to transmit fees.
to transmit Medicare contractor's checks, unendorsed benefit checks or premium payments forwarded to CMS's lockbox. See GN 02403.030.
for saving bonds received as conserved funds. See GN 02403.015.
C. REFERENCE
How to request the FORT and CCFORT and an explanation of the contents, MSOM DMS 004.008
Processing remittances after the FORT has been requested, GN 02403.025
D. EXHIBIT
Field Office Remittance Transmittal
FIELD OFFICE REMITTANCE TRANSMITTAL
PAGE 1
SOCIAL SECURITY ADMINISTRATION073090
PC: 2 PO BOX 3430
PHILADELPHIA, PA 19122-9985
ACCTIDNAMERECEIPT# # OF REMIT AMTCREDIT AMT
LASTFSTACCTS
123456789A SMITH JOH 9021110000101100.00100.00
001012940A JONES THO 902111000020150.0050.00
010056983A ALLEN RON 902111000030260.0045.00
010056983B ALLEN VER 9021110000415.00
******************************END OF REPORT**************************
CREDIT
TOTAL: 210.00
FO SIGNATURETITLE
NAME
(PRINT) PHONE*
FO SIGNATURE TITLE
NAME (PRINT) PHONE*
FO:100SOCIAL SECURITY ADMINISTRATION
237 W 48 STREET
NEW YORK, NY 10036
NOTE: DMS will propagate the telephone numbers.
EXHIBIT E Credit Card Field Office Remittance Transmittal
CREDIT CARD FIELD OFFICE REMITTANCE TRANSMITTALPAGE 999
PC:2SOCIAL SECURITY ADMINISTRATION073090
MID-ATLANTIC PSC
P.O. BOX 3430
PHILADELPHIA, PA 19122
[4][5] [6][7] [8][9]
ACCTIDNAMERECEIPT ## OFREMITAMTCREDIT AMT
LASTFSTACCTS
12345678901 MILLER WIL 90211100006 01$100.00$100.00
***********************************END OF REPORT*******************
[10]
CREDIT
TOTAL: 100
[11]
FO SIGNATURETITLE
NAME
(PRINT) PHONE*
FO SIGNATURE TITLE
NAME (PRINT) PHONE*
[12][13]
FO:100SOCIAL SECURITY ADMINISTRATION
237 W 48 STREET
NEW YORK, NY 10036
FAQs
The migrant sender pays the remittance to the sending agent using cash, check, money order, credit card, debit card, or a debit instruction sent by e-mail, phone, or through the Internet. • The sending agency instructs its agent in the recipient's country to deliver the remittance.
What is the meaning of remittance payment? ›
What is the meaning of Remittance? Payment remittance is a money exchange using a transfer. One party will send funds to another individual or entity, typically using electronic transfer or wire submission. Transactions of this kind are often done internationally and can be completed almost immediately.
What is an example of a remittance? ›
It can be money sent for payment of a bill, for example. However, today, it's more commonly seen as money sent by a person in one country to relatives or friends in another.
What is the meaning of remittance facility? ›
Remittance Facility . Means the facility provided to the customer for remitting money to the beneficiary for the purpose of (i) Family Maintenance (ii) Credit to NRE/NRO account (iii) Gifting.
What is remittance processing? ›
Remittance processing involves capturing payment and account data from scanned images of remittance stubs, coupons, invoices and the accompanied payment source such as check/cheque, cash, credit card, ACH, wire or other electronic payment sources. This process includes balancing the transaction for deposit and posting.
What is the process of remittance of money? ›
The process of sending a remittance usually begins with the sender depositing money into a financial institution, such as a bank or a money transfer service. The recipient then receives the money in their home country, either through a bank account, cash pickup location, or mobile money account.
What is the difference between remittance and transfer payment? ›
Payment is made via banknotes and coins (cash), deposits and credit on an account by a financial institution or a similar institution. A remittance is a sum of money transferred from another party as a payment or gift. It is often used to describe a sum of money sent by someone working abroad to their family back home.
What does payment remittance look like? ›
What Does Remittance Advice Look Like? Remittance advice notifies the recipient of a payment, with the details included. Paper remittances include a detailed check stub, perforated invoice, or billing account statement section that is detached and mailed with the payment indicating the amount paid.
What are the different types of remittances? ›
Remittance is one of the important source of revenue for a country and plays a vital role in its economic growth and development. There are two types of remittance: Inward Remittance and Outward Remittance.
Is remittance proof of payment? ›
In short, remittance advice is a proof of payment document sent by a customer to a business. Generally, it's used when a customer wants to let a business know when an invoice has been paid.
Speed of Transaction: Remittance services often excel in speed, ensuring recipients gain immediate access to funds. Conversely, bank transfers may involve longer processing times, potentially delaying fund availability. Lower Fees/Charges: Remittance services offer competitive advantages in cost-efficiency.
Who sends remittances? ›
International money transfers made by migrant workers and immigrants sending a portion of their earnings to their families in their country of origin are known as remittances.
How do you remit a payment? ›
You may send a payment remittance to meet a bill or invoice obligation. Transfers sent abroad from foreign workers to their family in a native country are also known as remittances. There are several methods of sending a remittance, such as through the Automated Clearing House (ACH) Network or via a wire transfer.
How do you explain remittance? ›
Remittances are the transfer of funds between parties as a bill, an invoice, or even a gift. However, "remittance" refers more broadly to the funds migrants send to their relatives in their home country while working and living abroad.
How long does a remittance payment take? ›
Sending a Bank Remittance
These can take anywhere from 3-5 business days or longer, especially when sending overseas. However, be sure to do some currency research before sending out the international wire transfer. You need to confirm whether the bank is able to send funds in the local currency of your receiver.
How long does it take to get a remittance? ›
Generally speaking, international bank transfers will arrive within one to five working days. Let's explore what this looks like. To send an international payment, you simply need to gather all the necessary information (IBAN number, BIC/SWIFT number, recipient's banking details, etc.)
How do I receive remittance money? ›
Steps to collect your money
- Ask your sender to provide your preferred bank account details while sending remittance.
- Receive remittance directly into your bank account in any commercial bank, development bank, finance companies or co-operatives.
In most cases the remittance process occurs in three phases, the funds capture phase, the funds disbursem*nt phase and the communications and settlement phase. In the funds capture phase an individual goes to the MTO and provides funds to be transferred to a third party overseas.
