ATC Paying Agent Integration

For firms that work with American Trust Custody as a paying agent, PensionPro provides the capability to send distribution details directly to ATC from inside the application, using the information pulled straight from the Distribution Project. This article discusses setting up and using this integration.

Tier Availability: Business Bundle

Article Contents

• Setting Up
  • Establishing the Integration
  • Adding a Bin Number
• Using the Integration
  • Adding Payment Information
  • Sending the Payment
  • Accepted & Rejected Payments

Setting Up

Before the ATC functionality can be utilized, the integration to ATC will need to be established, and a Bin number will need to be assigned to each Plan.

Establishing the Integration

Security Rights Required: Maintenance

Before starting anything else, a connection to ATC must be established within Integration Preferences:

1. Navigate to Maintenance > Preferences > Integrations > ATC. The ATC Settings grid displays.
2. Select Edit at the top-right of the grid.
3. Enter the appropriate User ID and Password (see note below).
4. Select Save.

Adding a Bin Number

Security Rights Required: Add/Edit Plan

ATC releases a distribution's funds from one of several Bins. To associate a Distribution in PensionPro with a particular Bin, the Bin number is first added to the Plan; that number will then be applied to each of the Plan's Distributions when payment is sent to ATC.

To set a Bin number for a Plan:

1. Open the desired Plan in a new Plan tab.
2. Select the General view from the list on the left.
3. Select Edit at the top-right of the grid. The Edit General Plan Information window displays.
4. Enter the ATC Bin Number in the appropriate field.
5. Select Save.

Using the Integration

When the Distribution is processed and payment information is ready to transmit, navigate to the Distribution tab and select the Distribution > ATC view from list on the left. If the integration is properly established, the ATC Paying Agent Status will indicate that the payment is Ready to Set Up. If the Status instead shows that the integration needs to be established or a Bin number needs to be added to the Plan, refer to the instructions in the section Setting Up.

Adding Payment Information

First, the payment information will need to be added to the ATC view. Transmission will be performed at a later time.

1. Select Add at the top-right of the grid. The Add ATC Payment window displays.
2. Choose a TransType based on the payment method to be used. Additional fields will display based on the selected TransType.
   • Available options are Check, ACH, and Fed Wire.
3. Fill in the required fields.
   • Where applicable, PensionPro will automatically populate fields with existing Distribution data.
   • ATC applies more stringent character limits to some fields than PensionPro does. These fields may not populate with existing data if it exceeds the ATC limit.
4. (optional) Select Include 1099R Details to transmit 1099 information along with the payment. Additional fields will be provided.
   • ATC will not create the 1099R for this Distribution unless this field is selected.
5. When finished, select Save.

Sending the Payment

Security Rights Required: Send ATC Payment

PensionPro does not transmit payment information to ATC immediately, providing an opportunity for the data to be reviewed. Once the information is sent, it cannot be canceled.

When the information on the ATC view is ready to transmit, select More > Send to ATC. After confirming the action, PensionPro will send the payment details to ATC and set the Status to Pending. Once the payment is submitted, PensionPro will continue to track its acceptance status using the ATC Paying Agent Status field.

In addition, PensionPro will send email notifications to a designated email address or Employee Plan Role to alert the appropriate party of the payment's progress. The recipient in question can be customized in Email Notification Preferences. This includes the following notifications:

1. An immediate email confirming that the payment has been sent to ATC.
2. A second email when ATC accepts or rejects the payment.

Accepted & Rejected Payments

The ATC integration in PensionPro will transmit the Distribution's payment details to the ATC system. Once the payment is accepted, any ATC processes—such as those regarding releasing transactions and returned transactions—will continue as normal, without any further PensionPro involvement.

In the event that ATC doesn't accept the payment, an error message will be displayed at the top of the ATC view in PensionPro. This alert will contain a link to an error log, which will provide more information for the failure. Make the necessary changes, then re-send the payment using the steps above.

For assistance in diagnosing errors returned from ATC, please contact ATC support at usersupport@macg.com.