To: University Business Managers
From: Elizabeth C. (Betsi) Snipes
Date: October 29, 2010
In order to comply with the IRS Federal Regulations with regards to the IAT Rules, a bullet has been added to both direct deposit authorization forms stating the employee’s responsibility should they forward the entire amount of their direct deposit from a U.S. bank to a bank in another country. Please discard all old direct deposit authorization forms and begin using the new ones that are now available on the Policy and Procedures Manual website.
Thank you in advance for your time and attention to this matter.