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1.
There is a IRS reporting requirement that states that companies that process credit and debit card payments are required to submit IRS Form 1099-K. Will CU*Answers be producing this form?
No. This law actually pertains to merchant card programs where the merchant is collecting payments for services and goods sold. Since we do not run merchant programs on our platform, this reporting requirement does not apply to us.
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2.
Can CU*BASE produce 1099-MISC forms for payments I make to my vendors?
Yes. The annual Year-End Processing Guide includes specific steps on preparing your A/P vendors for annual 1099-MISC reporting. Certain configuration settings are needed to ensure that the system calculates the amount paid to the vendor for the year and places it into the Previous year 1099-MISC amount field on the vendor record during year-end processing. Prior to year-end: Verify the setting of the Create a form 1099-MISC year end flag on each vendor (via Tool # 990 Work with A/P Vendors ) More...
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3.
Reports or forms from CU*BASE are printing with random characters or corrupt pages.
CU*BASE is designed in such a way that most programs are common between clients and menus. If a particular report has issues across multiple different printers, report the the issue to CU*Answers to investigate whether there is a programming error. However, the issue is typically isolated to a single workstation or to a single printer. Confirm the CU*BASE configuration of the printer The first step in the troubleshooting process is to ensure that the printer is configured correctly from top to More...
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4.
How does the A2A process get started? Once the form is filled out what do I do?
The first step is to make sure your credit union has filled out the three required forms: Sign Up Form, Electronic Payment Service Agreement, and Fed ACH Participation Agreement. There is also a non-disclosure agreement to sign to receive a copy of Magic-Wrighter's SSAE-16 audit results. Once the Client Service and Education team has received the forms from your credit union, they will send the form to our third party processor, Magic-Wrighter. Magic-Wrighter will submit a confirmation with More...
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5.
If our tax forms are uploaded to "It's Me 247", how will members who are not enrolled in eStatements receive their tax documents?
Regardless of whether a member is enrolled in eStatements, the member will receive a paper copy of their tax documents in the mail, provided they earned enough dividends (or paid enough interest) through the tax year to qualify for a tax form. The presentation of tax documents in the My Documents section of It's Me 247 is an additional convenience that makes the forms readily available online, often earlier than they are provided by via mail. If you are not currently offering this feat More...
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6.
With Deposit Secured Loans, do members sign a Promissory note before the loan is funded? What happens if they do not sign the form?
Yes, if an online note is programmed in CU*BASE, it will be presented to and signed digitally prior to the loan funding. If the member cancels out and does not sign the form, the loan will not be created. Instead, the system will submit a loan application to be worked in the LOS Loan Queue (Tool #2). Deposit Secured loans do require special loan forms specifically coded for this type of offer. Your standard loan forms cannot be used with this feature without the special coding. f you are anx More...
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7.
I have just set up a printer for printing loan documents. However, the forms are not duplexing. I can print Windows jobs that duplex, but not CU*BASE.
First check the device configuration to make sure CU*BASE knows the printer is capable of duplexing. Using Tool #326 CU Hardware Configuration, choose P for Printer and double-click on the printer ID. The Duplex setting should be checked. If this setting is already correct, you will need to contact a Systems client service representative and we will verify that the Duplexing option is set to Yes in the credit union configuration library for that printer model. (Keep in mind that this may no More...
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8.
My Auditors are requesting that I provide them with a 1096 form. What is this and where can I find it?
A 1096 IRS Tax Form is required if an institution is filing your IRS Tax file using paper format. Since CU*Answers transmits your IRS Tax File electronically this form is not required to be completed. Reports (P1099 x, P1098 x , P5498 x) are generated automatically for each form type are generated when our Operations Team creates the files for the IRS in February and May. These reports contain the totals for each tax form type created.
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9.
On some of my 1098 tax forms, members who just opened a loan this year are seeing an amount under “Box 2. Outstanding Mortgage Principal” that they don’t understand. Where does this figure come from?
The IRS, which makes changes to tax form layouts almost every year, recently added this new informational box to form 1098 to report the balance on a mortgage account as of January 1 of that same tax year. Each year on January 1 we capture the loan balance on all loan accounts in a special file, and then when tax forms are created at the end of the year we can use that figure. Therefore, for loans that were opened in a prior tax year, this balance is usually easy for members to understand. More...
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10.
I received a notification that there are changes being made to CTR forms. In August 2017, new fields are being added to CTR forms that are required to be in compliance. What is CU*Answers doing to be in compliance with these changes?
You are referring to this announcement released by FinCEN in May. We currently have a project sheet (#45201) to comply with these required changes. NOTE: The deadlines refer to when FinCEN will begin being able to receive the new data, not the date when the new data must be sent. We continue to track this project with FinCEN and will alert clients when changes have been made that will affect their day-to-day activities.
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11.
What determines where my GOLD documents print?
This comes from the Workstation Device Configuration in CU*BASE. To view or change this: Launch Tool #326 CU Hardware Configuration Select Terminal/Workstation In the list of workstations, locate the ID of the workstation you are looking up and double click on it (or just type the ID and press Enter) This will open up the terminal's configuration in CU*BASE. In the middle is the list of default printers where your documents will print: General Printer - this will be the printer to which a More...
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12.
Why is the member's credit score not pulling into the "Price You Pay for Credit" form when I print the form from CU*BASE?
Only a Full Pull will populate the credit information into this form. In order to see if the credit score came in via a Soft Pull or a Full Pull, you can use either of the tools listed below: Using Tool #319 Credit Score History Dashboard , enter in the date range for when the credit report was pulled and use enter. On the resulting screen the Method column will show either Soft Pull or Full Pull for each of the scores found in the history. This dashboard analyzes scores across all your memb More...
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13.
Why can't everything in CU*Talk be read in Spanish?
There are four ways that information is communicated to the caller in CU*Talk: Static Audio Prompts/Custom Prompts – these are the CU-defined welcome messages, hours and locations. (NO SPANISH OPTION CURRENTLY.) Text to Speech – a custom option for the credit union in which information is grabbed from CU*BASE and communicated via a text to speech program in CU*Talk. This can include the welcome message, hours and locations, and rate descriptions and their corresponding rates. (NO SPA More...
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14.
How do I reconfigure a CU*BASE print session to use encryption?
Configuring Encryption ***IMPORTANT: You must have local administrator privileges on the PC to complete these procedures.*** 1. Download the Configure Encryption utility from http://updates.cubase.org 2. Run the tool as an administrator 3. After running the tool, launch the print session and navigate to “Communication > Configure” 4. Click the “Properties” button 5. Select “Use System iNavigator default”, “Use Secur More...
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15.
How do I use CU*BASE tools to keep track of the beneficial owners on my business accounts and other memberships?
Using CU*BASE to Comply with New Rules for Tracking Beneficial Ownership FinCEN has issued new rules under the Bank Secrecy Act that require financial institutions to identify and verify the identity of the beneficial owners of all legal entity members (corporations, etc.). Under the final rule, credit unions are required to have written procedures to identify and verify beneficial owners of legal entity members who open new accounts on or after May 11, 2018. In addition to identifying and coll More...
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16.
What do I need to do to allow an employee to download or upload data between CU*BASE and their PC?
If you need to allow an employee to perform upload and/or download tasks (FinCEN, AIRES, ALM, uploading G/L entries to post, etc.), you must first complete the iShield Security Access Request form and have it signed by your credit union’s designated Security Officer to sign. Once our Client Services team receives your signed form and verifies it, a request will be submitted to our System i administrators, and you will be notified when the new permissions have been granted. This process wi More...
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17.
What is CU*Forms?
CU*Forms is a web application that allows credit unions to build their own form templates that staff can use to prepare documents for signing. Once documents are prepared, members may sign with Topaz signature pads and/or eDOCSignature’s eSign. The template creator has access to over 150 CU*BASE data points, including account, SSN, first name, last name, and address, to automatically fill forms.
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18.
Do I have to activate online banking and audio response automatically for all my new members?
No, you do not have to automatically activate OLB or ARU for new memberships. Actually, you can default all new memberships to deactivate online banking and/or audio response access until the member specifically requests it. This is highly recommended as it helps to protect members who join the credit union but never get around to using your online tools right away. These accounts may be your most vulnerable since the member hasn't set up a private password or security questions. By deact More...
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19.
What columns/fields, files/tables, and programs are included in the File Maintenance Inquiry "Critical Monitoring?"
When you use the filter buttons on the File Maintenance Inquiry dashboard (Tool #159: Audit File Maintenance Inquiry (CUFMNT)), indicators note which programs, fields/columns, and files/tables AuditLink has flagged as “critical” for auditing teams to monitor on a daily basis. You can quickly sort by that indicator and select only those items for a quick scan of maintenance that directly affects member accounts. Below is a listing of these critical items. Columns/Fields Field Why More...
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20.
Explain how the Secondary Names (SECNAMES) file works to store joint owner names, especially in cases where a membership doesn't really have "joint owners" per se (like a Representative Payee).
The Secondary Names (SECNAMES) file stores instructions that link a membership account to another member or non-member record. The file stores links to joint owner names and beneficiary names for all non-IRA account types. (IRA beneficiaries are stored in a completely different file because they are linked to an IRA Plan Type, not specific individual sub-accounts.) The file also stores a third type referred to as miscellaneous owner which can be used for any purpose you wish. The most co More...
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21.
Does CU*Answers provide any helpful information or services to assist credit unions in testing their disaster recovery plans?
We do. In addition to information we can provide, we have services that will help you plan and execute your recovery test. Helpful information about Disaster Recovery/Business Continuity planning and testing can be viewed on our website at: https://www.cuanswers.com/solutions/business-continuity/ Services to help credit unions build and test their Disaster Recovery/Business Continuity plans can be found on our website at: https://store.cuanswers.com/store/business-continuity-services/business-co More...
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22.
Where does property tax or PMI information get entered into CU*BASE?
This data comes from the TAX file. This file is created automatically at year-end and populated with things like dividends, interest paid, and other details to be reported to the IRS and printed on tax forms. When it comes to Property Tax and PMI, things get a little complicated. Over the years the IRS has shifted back and forth as to (a) whether we are obligated to report this data to the IRS or (b) whether it can simply be reported to members via the 1098 form, regardless of whether the IRS More...
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23.
What happens if I enter a rate into the Audio Banking rate configuration screen but there is no recorded message that goes with that rate?
The following applies only to CUs that do NOT use the Text-To-Speech (TTS) engine for CU*Talk Audio Response. In order to read a rate message to a member in CU*Talk Audio Response, the system must find both a recorded message for that position and a rate greater than 0.000 on the corresponding position in your configuration (Tool #882 Update ARU Interest Rates ). For example, message #1 and rate #1 must both exist in order to read the rate message to the member. Remember that in order for mes More...
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24.
What is the Internet Retailer Support Center (IRSC)?
The Internet Retailer Support Center (IRSC) is a support desk at CU*Answers for credit union virtual channel project managers. It brings together several digital strategy products into one cohesive location and a single point of contact—no more searching across CU*Answers’ websites for forms saved in different places! Credit unions looking to expand their virtual channel marketplace will be able to shop and explore the offerings online as well as check project development status. The More...
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25.
Does CU*BASE automatically generate CTRs for large dollar transactions?
Yes, CU*BASE automatically generates CTRs for large dollar transactions. You will need to configure the Bank Secrecy Act Monitoring Configuration with this setting. You can also select to have only a warning message appear, if you prefer. Warning messages or CTR forms will appear when posting on the following teller screens (depending on which transaction types are being tracked for BSA in the Bank Secrecy Act Monitoring Configuration): Teller Funds In Teller Deposits/Withdrawals Teller Misc. More...
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