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:

  • Verify that all documents and voids are correctly listed in the IAR sales report;

  • Correct any errors;

  • Verify that all transactions were legitimately issued by your agency (to guard against unauthorized ticketing);

  • Verify all commission amounts;

  • Verify that all refund and exchange transactions are accurate and that their values include any penalty information (if applicable);

  • Verify cash and credit totals; and

  • Verify the net remit amount.

You can also view more information on IAR in Section 5 of the Industry Agents’ Handbook.