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  • CRT Alert 084/2018

    23 November 2018

    Structured settlement contributions for the MATS

    The transition to the Member Account Transaction Service (MATS) is well underway and we are working closely with each provider as they onboard to MATS. We also provided a MATS Transition Handbook which includes information about transitioning to MATS including information about back reporting.

    An updated MATS Transition Handbook is now available.

    Version 2.0 of the MATS Transition Handbook includes the following new information about back reporting structured settlement contributions via the MATS.

    Back reporting structured settlement contributions

    If you have reported a structured settlement contribution to us via the Transfer Balance Account Report (TBAR) as part of your regular TBAR reporting, you will need to exclude this from your MATS back reporting. If you are unable to do this, please contact us at the email address below.

    Cancelling TBAR structured settlement contributions through MATS

    You can use the MATS to cancel structured settlement amounts you have reported through TBAR by ensuring your MATS cancellation message meets the following requirements:

    • ‘Fund Transaction ID’ must be blank.
    • Receipt Date cannot be earlier than 1 July 2018.

    The above information will be included in the next update of the MATS Business Implementation Guide and the fund reporting protocols.

    Next steps:

    • Read the updated MATS Transition Handbook (PDF, 1.98MB).
    • Contact if you are unable to exclude TBAR structured settlement contributions from your MATS back-reporting.

    See also:

      Last modified: 27 Nov 2018QC 57486