ETA 8401 Section III Banking Activity

UI REPORTS HANDBOOK NO. 401

ETA 8401 Monthly Analysis of Benefit Payment Account

CONTENTS

A. Facsimile of Form III-1-2

B. Purpose III-1-3

C. Due Date and Transmittal III-1-3

D. General Reporting Instruction III-1-3

E. Definitions III-1-3

1. Account Number III-1-3

2. Commingled/Separate III-1-4

F. Item by Item Instructions III-1-4

1. Beginning Balance III-1-4

2. Total Deposits III-1-4

3. Total Checks Issued III-1-4

4. Ending Balance III-1-4

5. Total of Daily Ledger Balances III-1-4

6. Average Daily Balance III-1-4

7. Percent of Average Daily Balances III-1-4

8. UI Trust Funds III-1-4

9. Reimbursable Funds III-1-4

10. Federal Funds III-1-5

11. Refunds III-1-5

12. Checks Issued (UI Trust Funds) III-1-5

13. Checks Issued (Reimbursable Funds) III-1-5

14. Checks Issued (Federal Funds) III-1-5

A. Facsimile of Form

ETA 8401 - MONTHLY ANALYSIS OF BENEFIT PAYMENT ACCOUNT

STATE	REGION	REPORT FOR PERIOD ENDING

Bank Name:	Bank City:
Account Number:	Commingled/Separate:

LEDGER
1.	Beginning Balance
2.	Total Deposits
3.	Total Checks Issued
4.	Ending Balance
5.	Total of Daily Ledger Balances
6.	Average Daily Balance
7.	Percent Average Daily Balance to Checks Issued
DEPOSITS
8.	UI Trust Funds
9.	Reimbursable Funds
10.	Federal Funds
11.	Refunds
CHECKS ISSUED
12.	UI Trust Funds
13.	Reimbursable Funds
14.	Federal Funds

Comments:

OMB No.: 1205-0154 OMB Expiration Date: 12/31/2015 Average Estimated Response Time: 30 Minutes

O M B Burden Statement: These reporting instructions have been approved under the Paperwork reduction Act of 1995. Persons are not required to respond to this collection of information unless it displays a valid OMB control number. Public reporting burden for this collection of information includes the time for reviewing instructions, searching existing data sources, gathering and maintaining the data needed, and completing and reviewing the collection of information. Submission is required to obtain or retain benefits under SSA 303(a)(6). Send comments regarding this burden estimate or any other aspect of this collection of information, including suggestions for reducing this burden, to the U.S. Department of Labor, Office of Workforce Security, Room S-4231, 200 Constitution Ave., NW, Washington, DC, 20210.

B. Purpose

State Workforce Agencies (SWAs) should withdraw from the Unemployment Trust Fund only amounts sufficient to pay benefit checks or warrants actually issued in accordance with the Treasury-State Agreement executed under the Cash Management Improvement Act of 1990. The electronic funds transfer system used by the Trust Funds Branch in the U.S. Treasury permits fund requests received by noon eastern time to be deposited and available in the state's benefit payment account usually by the following day. The ETA 8401 is a record of benefit payment account transactions recorded in the books of each state. The ETA 8401 allows the National Office and the SWAs to monitor the amount of monies kept in the benefit payment account.

C. Due Date and Transmittal

This report will be submitted electronically and is due in the National Office the 1st day of the second month after the month reported. January reports are due the 1st of March.

D. General Reporting Instructions

All transactions in the benefit payment account are to be reported through the ETA 8401 except for benefits/payments made for Trade Readjustment Assistance (TRA) and Alternative Trade Adjustment Assistance (ATAA) programs. Data used in preparing the ETA 8401 report must be obtained from the books of the state employment security agency. If benefit payment accounts are maintained in more than one bank, a separate report is to be prepared for each account.

The beginning balance, item 1, should agree with the ETA 2112 balance brought forward, line 1, column F. The ending balance should agree with line 46, column F (see instructions for the ETA 2112). If there is more than one benefit payment account, the sum of all ETA 8401 information should be used to compare with ETA 2112 information. The ETA National Office will compare balances reported on the ETA 8401 with the balances reported on the ETA 2112. All differences must be reconciled timely.

Only whole dollar figures should be reported.

Edit checks can be found in Handbook 402, Unemployment Insurance Required Reports Users Manual, Appendix C.

E. Definitions

1. Account Number. The last 5 digits of the account number will be used. No spaces, letters, or characters will be used. Each account's last 5 digits will be unique thereby enabling tracking of separate accounts.

2. Commingled/Separate. A separate benefit payment account is an account which contains only unemployment funds, both state and Federal (withdrawals from EUCA and FECA). Commingled accounts contain other, non-unemployment state or Federal funds. A 'C' is entered for commingled accounts and an 'S' is entered for separate accounts.

F. Item by Item Instructions

Instructions are given only when clarification beyond the title of the item is needed.

1. Beginning Balance. Enter on this line the closing balance for the previous month.

2. Total Deposits. Enter the total dollar amount of deposits made to the benefit payment account during the month reported.

3. Total Checks Issued. Enter the total dollar amount of checks/warrants issued from the benefit payment account during the month reported.

4. Ending Balance. (Item 1 + item 2) minus item 3.

5. Total of Daily Ledger Balances. Enter the sum of daily closing ledger balances.

6. Average Daily Balance. The average daily balance is computed by adding the daily ledger balances for each day in the month, including Saturdays, Sundays and Holidays, and dividing the total by the total number of calendar days in the month.

7. Percent of Average Daily Balances to Checks Issued. Enter the percent of Average Daily Balance in item 6., to total checks issued in item 3. This percentage figure shall be carried to two decimal places; for example, 17.77 or 0.23. These percentage figures are not to be rounded.

8. UI Trust Funds. In item 8, show total amount received from the state account in the Unemployment Trust Fund pursuant to Section 904(f), Social Security Act and deposited in the benefit payment account to pay regular UI, 100% of state and local government EB, the 50% state share of EB under PL 91‑373. In item 12, show the total amount disbursed for regular unemployment compensation, EB for state and local governments, and the state share of EB under the Federal/State Extended Unemployment Compensation Act (PL 91‑373).

9. Reimbursable Funds. In item 9, show the total amount received as advances or reimbursements and deposited in the benefit payment account for Federal share regular UI and EB under PL 91‑373, and emergency compensation if Federal reimbursements are deposited directly to the benefit payment account. Also, show amounts received from other states and deposited directly into the benefit payment account. In item 13, show the total amount disbursed from reimbursable funds.

10. Federal Funds. In item 10, show the total amount of funds received and deposited in the benefit payment account for the payment of benefits attributable to UCFE (including Postal Workers) and UCX. In item 14, show total amount disbursed through the benefit payment account for UCFE (including Postal Workers) and UCX.

11. Refunds. In item 11, show the total amount of recoveries to the benefit payment account during the month under the regular unemployment insurance program. If there are any other refunds such as UCFE (including Postal Workers) and UCX, they should be broken down and explained in the comments section.

12. Check Issued (UI Trust Funds). Enter the amount of line 3 (Total Checks Issued) attributable to check issued for regular UI (line 12).

13. Check Issued (Reimbursable Funds).Enter the amount of line 3 (Total Checks Issued) attributable to check issued for reimbursable payment (line 13).

14. Check Issued (Federal Funds).Enter the amount of line 3 (Total Checks Issued) attributable to check issued for UCFE/UCX (line 14).

III-1-1

4/2007