This document contains a subset of the IAT format; it highlights the new fields that are mandatory and identifies information that will need to be collected and accessible if you are preparing an IAT entry. Refer to the NACHA Operating Rules and/or IAT Survival Guide for a complete explanation of the ACH IAT formats.
IAT Batch Header
The Company Batch Header travels through the ACH Network to the receiving bank with the individual entry. IAT is used for entries going to either a corporate/business or consumer/retail account header.
|Number of chars
||Description of Field
|Foreign Exchange Indicator
||"FV" Fixed-to-Variable – Entry is originated in a fixed-value amount and is to be received in a variable amount resulting from the execution of the foreign exchange conversion.
"VF" Variable-to-Fixed – Entry is originated in a variable-value amount based on a specific foreign exchange rate for conversion to a fixed-value amount in which the entry is to be received.
"FF" Fixed-to-Fixed – Entry is originated in a fixed-value amount and is to be received in the same fixed-value amount in the same currency denomination. There is no foreign exchange conversion for entries transmitted using this code. For entries originated in a fixed-value amount, the foreign Exchange Reference Field will be space filled.
|Foreign Exchange Reference Indicator
||Used to indicate the content of the Foreign Exchange Reference Field:
'1' - Foreign Exchange Rate
'2' - Foreign Exchange Reference Number; or
'3' - Space Filled
|Foreign Exchange Reference
||Contains either the foreign exchange rate used to execute the foreign exchange conversion of a cross-border entry or another reference to the foreign exchange transaction.
|ISO Destination Country Code
||The country code in which the entry is to be received. So for entries destined to accountholder in the U.S., this would be 'US'.
||If a natural person is not originating that batch, this field must contain the IRS Taxpayer Identification Number (TIN) of the Originators identified in the Originator Name Field. NACHA is silent in the Rules regarding whether an alpha or number prefixing the TIN is acceptable.
|Company Entry Description
||The originating entity provides a description of the purpose of the entry so it can be displayed back to the Receiver.
|ISO Originating Currency Code
||Used to identify the currency denomination in which the entry was first originated. So if the original amount in the 710 addenda record started out in Canadian dollars, this would be CAD.
|ISO Destination Currency Code
||Used to identify the currency denomination in which the entry is to be received.
ACH IAT Detail Record
This is the record that carries the transaction code that identifies the entry as a debit or credit. Prenotes are permitted but keep in mind that if the entry is forwarded outside of the U.S., you may not receive a response.
|Detail Record Field Name
||Number of chars
||Description of Field
|Gateway Operator Identification/Receiving DFI Identification
||Receiving bank's routing number
|Number of Addenda records
||Count of the '7' records, minimum numbers is '7'
||USD amount of entry
|Receiver's Account Number
||For other ACH entries, the field length is 17 positions maximum
ACH IAT Addenda Records
Each entry is made up of mandatory addenda records that hold the information needed for compliance with the BSA Travel Rule and increase the number of fields to be considered in OFAC screening.
The ACH Batch header typically contains the originator's Company Name but that will be on an IAT addenda record.
|Minimum of 7 and maximum of 12 addenda records per payment.
|Seven (7) addenda records mandatory
||"710" Foreign Paymt Amt /Receiver's Name
"711" Originator's Name /Street
"712" Originator's City / State/ Ctry/ Postal Code
"713" ODFI Name / ID/ Branch Country Code
"714" RDFI Name / ID/ Branch Country Code
"715" Receiver's ID Nbr /Street
"716" Receiver's City / State / Ctry/ Postal Code
|Up to five (5) Correspondent Bank addenda records
||"718" if a foreign bank outside of the U.S. handles the payment
|One (1) or two (2) remittance addenda records