Effective September 18, 2009, the National Automated Clearing House Association (NACHA) is implementing a change to the rules governing the Automated Clearing House (ACH) Network as they relate to International ACH Transactions (IAT). As of that date, all international payments will be required to be identified with a new Standard Entry Class (SEC) Code in response to a request from the U.S. Department of Treasury's Office of Foreign Assets Control (OFAC).
The following list of items will help you determine how your company will be affected by the IAT ACH rule change.
Click the link below to see frequently asked questions to help you better understand the changes and how you will be affected.
IAT Informational FAQ