Parameter Setting for IRS Form 5498 and Tax Year 2006 IRA Contributions

Because this year has an extended filing date for 2006 personal Federal Income Tax returns, the final IRA 2006 contribution date also has been extended.

You must make this change before April 17 if your credit union offers any kind of IRA or IRA Certificate. You must also change this setting before you process your IRS Form 5498s.

To effect this change on CAMS-ii, in the Control-IRAs parameters (Back Office > Standard > Parameters), you must change the Cutoff Day for Previous Year Contributions setting to April 17. Click Accept.

You can make this parameter setting change during normal operating hours.

Please address any and all questions concerning this topic to support@camsbycbs.com.

Using the Internet Address text box in the Personal Data Record

In the next CAMS-ii Release, we will be adding a text-messaging feature for members using Internet Branching E-alerts that uses the Internet Address text box in the Personal Data Record. When we add this feature, we will not delete the data that resides in the Internet Address text box; however, this text box will be renamed on the screen to Text Message Address and will be maintainable only by the member via Internet Branching. It also will become a view-only text box accessible via Personal Data Inquiry and Maintenance.

Previously, CAMS-ii has not used the information in the Internet Address text box, so using that text box has not been an issue. If you have been using the Internet Address text box in the Personal Data Maintenance for other information, we recommend that you note the information, clear the Internet Address text box, and discontinue using it.

As we approach the activation date for the text-messaging feature, we will provide more information about it.

Please address any inquiries on this topic to support@camsbycbs.com.