EFT Form Instructions

 

Preparation of Electronic Funds Transfer (EFT) Disbursement Payment Request Form

University Departments must prepare an EFT (Electronic Funds Transfer) Disbursement Payment Request Form when seeking electronic delivery of a payment. No EFT disbursement request will be processed unless the required form is properly completed. Guidelines for completing the EFT Disbursement Payment Request Form appear below. Note that rows 16, 19, and 20 have been formatted to treat numbers as if they were text so a leading zero is not dropped.

Line # Line Description Specific Instruction
1 Date Date form is prepared.
2 Preparer’s name The name of the individual initiating the wire transfer payment. This person cannot be the same as the individual who approves the request on line 11.
3 Preparer’s phone # Number we can call with any questions.
4 Preparer’s email address Email address we can contact you at with any questions.
5 Payment due date Date the money is to be received by payee.
6 Purchase order # If a PO exists and is known, please complete this field. Please refer to University policies governing purchase orders. In the event funds are to be transmitted in a foreign currency, and purchase order cannot be issued, please attach contractual documents to the EFT form.
7 Payment explanation Provide a brief explanation (for internal use) for the EFT request. Be as specific as possible.
8 Department The name of the office initiating the request.
9 Authorizer’s name (not #2) The name of the person authorizing the payment.
10 Authorizer’s email address (not #4) Email address at which we can contact the approver with any questions.
11 Authorized signature The signature of the authorizing individual within the department indicating approval of the payment. The general rule is that the person who has budgetary responsibility (or their designee) is the authorized signer. EFTs that will be charged against account strings that include an “E” fund must be countersigned by Treasury Management. As noted above, the person authorizing the transaction should not be the same as the preparer on line 2.
12 OVPR signature and stamp Payments that are being charged to a Sponsored Project must be signed by an authorized individual in the Office of the Vice President of Research.
13 Payee name The name exactly as it appears on the bank account.
14 Payee address Should include, at a minimum, the city and state where payee lives. For payees outside of the US a complete address is requested.
15 Other payee information Additional information that may be required, such as a phone number or Tax ID. See country specific information below for details.
16

16a

16b
Name on payee bank account

Payee bank account # (US)

Payee foreign bank account # or IBAN # (Foreign)
Name of payee as it appears on the bank account.

US payments – enter the payee’s US bank account number.

Foreign payments - For payments, regardless of currency, that are going to a European country, the 24 character International Bank Account Number (IBAN) is required. A helpful IBAN decoder website to determine if you have a correctly formatted IBAN is http://www.xe.com/idt
17 Payee bank name The name of the bank or financial institution.
18 Payee bank address The street address, city, and state for the bank. This information will help sending bank’s wire room confirm the exact bank location to which the payment will be delivered.
19








19a
Payee bank routing number (US)








Payee bank SWIFT code (Foreign)
From the dropdown box, select the routing type (ACH OR FedWire) for transfers within the US). On the blank line next to the dropdown box, enter the routing information. By way of explanation, all banks have unique identifiers that assist in routing electronic payments to them. Within the US, the routing number is called an ABA number and is 9 digits long. For some banks, the ABA number is different for ACHs and FedWires. For other banks, only one routing number is used.

For international payments the routing information is in the form of a SWIFT code (a combination of digits or letters that are 8 or 11 characters long). A helpful website to verify the SWIFT code is http://www.swiftbic.com.
20 Other bank information Branch code, bank code, etc. should be put here. See country specific information below for details. Special requirements for Chili, China, and Mexico are on the dropdown menu and after selecting requirement, indicate information on line underneath.
21 Remittance message Include any remittance message that needs to be included in the EFT payment. Examples of remittance messages are “For further credit to XXX,” “Invoice # XXX,” “Rent for January XXX,” etc. Some countries have specific requirements; see country specific information section below.
22 Payee email address Email of payee if additional information is needed.
23 Other email address Other interested parties that need notification alerting them that the payment has been initiated.
24 Oracle Alias / Natural Account #, currency, disbursement amount Use these lines to inform University Payables department of the individual account code combinations and the payment amount to be charged to each combination. Note: any account code combinations that include an “E” fund must be countersigned by Treasury Management. Also include the currency code and the amount you want transferred. Use as many lines as you need.
25 Total Summation of the amounts that appear on line 24. Be sure to include currency code.
26 Regions For foreign accounts only, select region from dropdown.
27 Type of activity (foreign accounts only) For foreign accounts only, select type of activity from dropdown.
28 Internal notes Any other information you wish to include. Comments on this line will not be included in the EFT or email addresses on lines 22 or 23.


Supporting Documentation

Each EFT form must include an attachment of supporting documentation that has been signed by an authorized signer. The supporting documentation must provide a source document with accurate banking information and must match the EFT form.

Documentation must also include sufficient information to substantiate the amount and currency of the payment as well as the business purpose, the payee’s name, address, and the date and nature of the transaction. Examples of acceptable supporting documentation include an approved invoice or a signed contract. The documentation needs to support the exact amount on line 25. Create a spreadsheet if necessary to show how the support adds to the total on line 25.

Supporting documentation for wires that are processed by Treasury Management must include support for the banking instructions. Acceptable examples include wire instructions on the invoice, a Supplier Registration Form, a bank letter with the instructions, or an email from the payee with the instructions.

Documentation for Tax Compliance

Each EFT form will be reviewed by Supplier Maintenance, University Payables, and the Tax department for tax compliance and application of tax treaty benefits.

Payments to non-US individuals and organizations are subject to different IRS rules than those to US individuals and organizations. A W-8 series form is required for all payments with the only exception being a valid expense reimbursement supported by receipts (i.e. for travel related expenses). The absence of a properly completed form may subject the non-US individual or organization to federal withholding tax. US-sourced activity may require federal withholding tax even with the form depending on circumstances.

Any questions may be directed to the Tax Department at 571-553-8313.

Additional Instructions

The originating office will email completed copies of the EFT Disbursement Payment Request Form and supporting documentation to University Payables at [email protected]. It is recommended that the originator retain a copy for their records as well.

Upon receipt of an authorized EFT form and supporting documentation, the University Payables department will review the request for appropriate tax documentation; approve in the area reserved for their use and process through the ePayables system; or forward the form and supporting documentation to Treasury Management. Under certain circumstances Treasury Management receives and processes urgent EFT requests and will forward to University Payables for booking.

Payments processed by Treasury Management will be released via electronic payment from the University’s bank account so that the payment is scheduled for delivery to the payee’s bank account on the payment due date (line 5). To allow adequate time for processing, Treasury Management should receive the EFT request as least three days before the due date. Confirmation of payment will be visible in Concur Invoice after the payment has been released from the University’s bank account.

 

Country Specific Information

 

CCY Country / Currency Special Requirements Additional Requirements
ALL Albanian Lek Full Beneficiary Bank name and address
Full Beneficiary name, address, and account number
Reason for payment (taxes, salary, capital injections, etc.)
 
AMD Armenian Dram Full Beneficiary name, address, and account number
Reason for payment (taxes, salary, capital injections, etc.)
 
AOA Angola Kwanza Full Beneficiary name, address, and account number
Full Remitter name, address, and account,number
Reason for payment (taxes, salary, capital injection, etc.)
 
ARS Argentinian Peso Beneficiary full name and address
Beneficiary's bank (including branch location)
Beneficiary's account number
Beneficiary's telephone number
Agency Code
Remitter's full name and address, account number
Reason for payment (taxes, salary,capital injection, etc.)
CUIT Tax ID Number
Please note the beneficiary needs to sign all documents at their bank before ARS is credited to their account. The bank in Argentina will hold payment orders for 90 days, if the beneficiary does not collect the funds on value date. If at 90 days the payment is still pending the banks will then reject the payment. However, the funds will not be returned unless the beneficiary advises their bank to do so. If Beneficiary does not sign for funds on value date, the USD will be converted to ARS at that day’s value.
AZN Azerbaijan Manat Full Beneficiary name and address
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injections, etc.)
 
BAM Bosnia-Herz Marka Full Beneficiary name and address
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injections, etc.)
 
BDT Bangladesh Taka Full Remitter name, address, and account number
Full Beneficiary name, address, and account number
Reason for payment (taxes, salary,capital injection, etc.)
Beneficiary is required to sign documents at their bank in order to receive BDT in their account.
BIF Burundi Franc Full Beneficiary name and address
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injections, etc.)
 
BRL Brazil Rial Beneficiary's bank (including branch location and agency code)
Beneficiary's IBAN (29 Characters in length starting with BR)
Beneficiary full name and address
Beneficiary's telephone number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
CNPJ Tax ID Number
Beneficiary must declare local currency and sign for it.
Please note the bank in Brazil will hold payment orders for 90 days if the beneficiary does not collect the funds on value date. If at 90 days the payment is still pending the banks will then reject. If Beneficiary does not sign for funds on value date, the USD will be converted to BRL at that day’s value.
BTN Bhutan Ngultrum Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
BYR Belorussian Rouble Beneficiary full name and address
Beneficiary's bank (including branch if applicable)
Beneficiary's account number (13 digits)
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
Bank name and MFO Bank Code - 3 or 9 digits
 
CLP Chilean Peso Beneficiary's bank (including branch if applicable)
Beneficiary's account number and account type
Beneficiary full name and address
Beneficiary telephone number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
RUT Tax ID number
 
CNY Chinese Yuan Beneficiary's bank
Beneficiary bank branch location
Beneficiary's account number
Beneficiary full name and address
Beneficiary telephone number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
Beneficiary must declare local currency and sign for it.
If beneficiary does not sign for funds on value date, the USD will be converted to CNY at that day’s value.
COP Colombian Peso Beneficiary full name and address
Beneficiary's bank
Beneficiary's account number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
Tax ID number
Beneficiary telephone number
Branch Location or Agency
 
ERN Eritrean Nakfa Full Beneficiary name, address, and account number
Beneficiary's bank exact location
Full Remitter name, address, and account number
Reason for payment (taxes, salary,capital injection, etc.)
 
GEL Georgia Lari Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
GTQ Guatemala Quetzal Beneficiary full name and address
Beneficiary's bank
Beneficiary's account number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
Exact branch location
NIT Tax ID number
 
GNF Guinea Franc Beneficiary full name and address
Beneficiary's bank
Beneficiary's account number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
Exact branch location
 
IDR Indonesian Rupee Any IDR purchase of 500 mm or more: Reason of payment or invoice on why IDR is being purchased  
KGS Kyrgyzstan Som

Full Beneficiary name, address, and account number
Beneficiary's bank exact location
Full Remitter name, address, and account number

The Beneficiary needs to present identification documents to receive funds.
KMF Comoros Franc Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
KRW Korean Won Beneficiary full name and address
Beneficiary's bank
Beneficiary's account number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
Beneficiary telephone number
 
KZT Kazakhstan Tenge Beneficiary's bank branch location and BIC
Beneficiary full name, address, and account number
Beneficiary Tax ID
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
The Beneficiary needs to provide appropriate documents in accordance with currency control legislation of republic.
LAK Lao Kip Beneficiary's bank branch location
Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
LBP Lebanese Pound Full Beneficiary name, address, and IBAN
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
LTL Lithuanian Litas Full Beneficiary name, address, and IBAN
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
LVL Latvian Lat Full Beneficiary name, address, and IBAN
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
LYD Libyan Dinar Beneficiary's bank branch location
Full Beneficiary name, address, and IBAN
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
MDL Moldavian Leu Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
MGA Madagascar Ariary Beneficiary's bank branch location
Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
MKD Macedonian Dinar Beneficiary full name and address
Beneficiary's bank exact location
Beneficiary's account number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
Beneficiary telephone number
 
MNT Mongolian Tugrik Beneficiary full name and address
Beneficiary's bank exact location
Beneficiary's account number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
Branch location or Agency
 
MOP Macao Pataca Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
MRO Mauritania Ouguiya Beneficiary full name and address
Beneficiary's bank exact location
Beneficiary's account number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
Branch location or Agency
 
MWK Malawi Beneficiary full name and address
Beneficiary's bank
Beneficiary's account number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
NIB Bank Identification Number
 
MVR Maldives Rufiyaa Beneficiary's bank exact location
Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
MZN Mozambique Metical Beneficiary full name and address
Beneficiary's bank exact location
Beneficiary's account number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
NIB number
 
NGN Nigeria Naira Beneficiary Bank sort code (9 digits)
Beneficiary account number
 
NPR Nepal Rupee Beneficiary full name and address
Beneficiary's bank exact location
Beneficiary's account number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
 
PEN Peruvian Sol Beneficiary's bank branch location
Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
PKR Pakistan Rupee Beneficiary full name and address
Beneficiary's bank
Beneficiary's account number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
Exact branch location with 11 digit BIC code
 
PYG Paraguay Guarani Beneficiary's bank exact location
Full Beneficiary name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
RUB Russian Ruble

Beneficiary Requirements:
1. Account number (20 digits long)
2. Proper name of beneficiary
3. Legal status of beneficiary
4. INN number - registration number in tax authorities, should consist of 10 digits

Beneficiary Bank Requirements:
1. BIC code (Bank Identification Code - 9 numeric digits)
2. Name of Bank and SWIFT code
3. Correspondence account

Additional Required Information:
1. VAT - Value added tax|
2. Purpose of payment
3. VO code (VO20050 or VO20020)

 
RWF Rwanda Franc Beneficiary full name and address
Beneficiary's bank exact location
Beneficiary's account number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
 
SCR Seychelles Rupee Beneficiary's bank exact location
Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
 
SLL Sierra Leone Leone Beneficiary full name and address
Beneficiary's bank exact location
Beneficiary's account number
Remitter's full name and address, account number
Reason for payment (taxes, salary, capital injection, etc.)
 
TWD Taiwan Dollars Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
The Beneficiary is required to sign documents if payment order is not settled directly with beneficiary bank. Beneficiary's bank sends arrival notice to Beneficiary. Beneficiary must endorse and return to bank. Beneficiary's bank then sends endorsed notice to PNC agent who, upon arrival of document, sends TWD.
TZS Tanzanian Shilling Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
Beneficiary must provide letter from beneficiary bank stating they can receive hard currency.
UAH Ukrainian Hryvnia Beneficiary's bank exact location
Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
UZS Uzbekistan Som Beneficiary's bank exact location
Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
VEF Venezuelan Bolivar Fuerte Full Beneficiary name, address, account number, and account type
RIF Number
Beneficiary's telephone number
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
VND Vietnamese Dong Beneficiary's bank exact location
Full Beneficiary name, address, account number, and account type
Full Remitter name, address, and account number
Reason for payment (taxes, salary, capital injection, etc.)
 
XPF Central Pacific Franc Beneficiary's bank exact location
Full Beneficiary name, address, and account number
Full Remitter name, address, and account number
Nature of operation
Can only be sent to the following countries: New Caledonia, French Polynesia, Wallis and Futuna Islands