How To Complete Step 11: Approve Electronic Funds Transfer (EFT) Information - New 05/10/2007
The following document refers to reconciliation and provides questions and answers regarding Step 11. This section contains information about who may complete the step, when and how the step should be completed and other information related to reconciliation. This document includes information about the following:
- What is the purpose of Step 11: Approve EFT Information?
- When can Plan Sponsors begin Step 11: Approve EFT Information?
- Who is allowed to complete Step 11: Approve EFT Information?
- How can I tell if Step 11: Approve EFT Information has been completed?
- Can Step 11: Approve EFT Information be undone after it is completed?
- What happens when Step 11: Approve EFT Information is completed?
- What if the Authorized Representative disagrees with the EFT information?
- What happens if the EFT information is rejected?
- How does a Plan Sponsor complete Step 11: Approve EFT Information?
What is the purpose of Step 11: Approve EFT Information?
The purpose of this step is for the Authorized Representative to confirm any changes made to the EFT Information in Step 10. If information is changed in Step 10, the Authorized Representative will be required to approve or reject the information in this step. This ensures that the Authorized Representative is aware of where the EFT payment will be sent and provides confirmation of that information.
When can Plan Sponsors begin Step 11: Approve EFT Information?
Step 11 cannot be started until Step 1 through Step 10 has been completed and the EFT information has been changed in Step 10. If the EFT information is not changed in Step 10, then Step 11 will automatically be marked "Complete." Step 11 must be marked "Complete" on the Reconciliation Checklist to proceed to the remaining step.
Who is allowed to complete Step 11: Approve EFT Information?
Step 11 can only be completed by the Authorized Representative. The Account Manager and Designees with both the Complete EFT Information and Request Payment privileges will have View Only access to this step.
How can I tell if Step 11: Approve EFT Information has been completed?
The Reconciliation Checklist displays as follows:
- Step 11 is marked with a green check to indicate that the step is complete and Step 12 is marked with a blue arrow to indicate that it is the next step.
- The status of Step 11 is marked "Complete" on the Reconciliation Checklist.
- The Last Updated Date and Last Updated By fields are updated accordingly.
- The status of the application will remain "Reconciliation Cost Reporting Closed."
Can Step 11: Approve EFT Information be undone after it is completed?
Yes. Step 11 can be revisited after it is marked "Complete." By making a change to the EFT information using Step 10 (account type, account number, and/or routing number), Step 11 will automatically be marked "Incomplete." Step 11 will also be marked "Incomplete" if the Authorized Representative rejects the reconciliation payment request in Step 12.
What happens when Step 11: Approve EFT Information is completed?
After Step 11 has been completed, CMS' RDS Center will validate the EFT information and the Authorized Representative may proceed to Step 12. The application status remains "Reconciliation Cost Reporting Closed."
What if the Authorized Representative disagrees with the EFT information?
If the Authorized Representative disagrees with the EFT information (entered or modified in Step 10), select Reject to decline the information. This action will mark Step 10 "Incomplete" and Step 10 must be completed again.
What happens if the EFT information is rejected?
If the Authorized Representative rejects the banking information in Step 11, an e-mail will be sent to the Account Manager and Designees with the Complete EFT Information privilege to inform them of the rejection and direct them to return to Step 10 and make the necessary changes. Step 10 will be marked as "Incomplete" until the user revisits and completes the step.
How does a Plan Sponsor complete Step 11: Approve Electronic Funds Transfer (EFT) Information?
- The Authorized Representative must log into the RDS Secure Web Site.
- The Plan Sponsor List With Application Summary page displays.
- Select the appropriate Plan Sponsor ID. The Application List page displays.
- From the Application List page, find the Application Number to reconcile. To access reconciliation, select Reconciliation from the Actions dropdown and select Go.
- The Reconciliation Checklist displays. Select Step 11: Approve Electronic Funds Transfer (EFT) Information.
- The Step 11: Approve Electronic Funds Transfer (EFT) Information page displays. Carefully review the EFT information.
- If the EFT information is correct, select Approve. If the information is incorrect, go to: instruction 9.
- The Reconciliation Checklist displays. The status of Step 11: Approve Electronic Funds Transfer (EFT) Information changes to "Complete" and the Last Updated Date and Last Updated By fields are updated accordingly. Step 11 is marked with a green check to indicate that the step is complete and Step 12 is marked with a blue arrow to indicate that it is the next step.
- Select Reject if the EFT information is incorrect.
- The Reconciliation Checklist displays. Step 11 remains "Incomplete." Step 10: Review EFT Information is now "Incomplete" and marked with a blue arrow to indicate that is the next step.
