2021 Quarterly Transaction Fees – First Quarter
This is a reminder about the agent/CTD transaction fee that is assessed on a quarterly basis. See the chart below outlining the tiered fee structure. Note: Agencies with less than 1,000 transactions per quarter will not be assessed transaction fees. A separate debit representing this fee will be drawn against the applicable ARC-designated bank accounts on or after April 22, 2021. Only one draft will be issued for consolidated drafting agencies.
|
Number of Transactions per Quarter
|
Price per Transaction |
Tier 1
|
1,000 – 2,224,999 |
$0.025 |
Tier 2
|
2,225,000 – 5,999,999 |
$0.023 |
Tier 3
|
6,000,000 or more |
$0.021 |
Tip of the Week: Reconciling the IAR Sales Report
ARC strongly recommends the IAR sales report be reconciled daily. The sales report should have a final reconciliation performed prior to sales report authorization/submission. The following steps will facilitate this process:
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Verify that all documents and voids are correctly listed in the IAR sales report;
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Correct any errors;
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Verify that all transactions were legitimately issued by your agency (to guard against unauthorized ticketing);
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Verify all commission amounts;
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Verify that all refund and exchange transactions are accurate and that their values include any penalty information (if applicable);
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Verify cash and credit totals; and
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Verify the net remit amount.
You can also view more information on IAR in Section 5 of the Industry Agents’ Handbook.