Effective January 2, 2008, the Department of the Treasury (Treasury) imposed a three
(3) year time limit for Federal agencies to submit final debits (i.e., ACH reclaims)
of a Financial Institution's (FI) Federal Reserve account via the FMS-135, Request
for Debit. An ACH reclaim represents a debit against an FI for certain liability on
payments disbursed after the death of a beneficiary. Agencies have three years from
the date of the FMS-133, Notice of Reclamation to submit ACH reclaims via the FMS-135
to Treasury's Philadelphia and Kansas City Regional Financial Centers. Items older
than three years are rejected and not processed.
NOTE: In 2017 Treasury began to automatically process final debits against the FI’s federal
reserve accounts for all reclamations not completed/closed by the end of the 3 year
reclamation time limit.