CBI File Export

To comply with the newest Credit Bureau Reporting guidelines regarding the re-use of purged account numbers, CAMS has implemented changes to the Metro2 formatted reporting created for exports to the bureaus.  We will be executing the following changes over the next few weeks for most of our CU’s.

1. With the 5.5.7 release, CAMS-ii began auto-creating the CBI reporting zip file during month-end batch and saving a copy of the files in the CAMS-ii Transfer folder (Back Office > Utilities > CAMS-ii Transfer Folder > zip) Moving forward, the system will retain the last 13 files in the CAMS-ii Transfer folder. The files are named cucbitfl.zip for the current/newest file and cucbitfl.zip1-12 where the 12th is the oldest file. The most current file is the one that should be uploaded to the credit bureaus each month.
2. CBS has disabled the ability to manually create the CBI file via Back Office > CBI > Create Export File until we complete the changes to the account number format to meet the new Credit Bureau guidelines. Please use the cucbitfl.zip file from the transfer folder for reporting purposes instead. The CBI Create button will remain disabled going forward, however, if you find a reason it needs to be re-enabled for your credit union please contact CBS Support using our ticketing system (CTT).

NOTE: Please see the 5.5.7.1 Release Notice for additional details related to the new unique account number format used for reporting including how it appears in CAMS-ii and on reports.

3. CBS will build the file with the segments needed to transfer the account numbers to the new format during the next month-end CBI auto-create. Your credit union will then submit this file to the bureaus using your normal monthly methods.  The account number changes should occur only once, and then the subsequent files will have the new account number format.

NOTE: For the credit unions that utilize the CBS reporting services, you do not need to submit the file, CBS will still handle that monthly reporting on your behalf.  This is informational only.

If you have additional questions or concerns about these changes, please contact CBS Support using the ticketing system(CTT).

2024 Year-End Road Map

Use this road map to guide your end-of-year processing: IRS Forms Processing and Reporting, General Ledger Closing, and other Year-End tasks.

First, we strongly recommend that you print and read the four attachments to this posting.

1. Click here for the IRS Forms Letter for 2024.
2. Click here for the IRS Electronic Filing Transmittal Sheet for 2024.
3. Click here for the CAMS-ii Year-End Checklist.
4. Click here for the After Year-End IRS Tax Forms Checklist.

This road map is divided into two sections: Before Year-End Processing and After Year-End Processing.

 

Before Year-End Processing

+ Fill out the IRS Electronic Filing Transmittal Sheet.

+ Return the IRS Electronic Filing Transmittal Sheet to CBS per the instructions on the sheet.

+ Complete steps 2 through 12 on the Before Year-End Checklist section of the Year-End Checklist by December 15th.

+ On December 30th/31st, review the reports again that are mentioned in the Before Year-End Checklist section of the Year-End Checklist.

 

After Year-End Processing

+ Review/Change the IRA/HSA settings under Back Office > Standard > Parameters > Control-IRAs/Control-Health Savings. (See the After Year-End IRA/HSA Checklist section of the Year-End Checklist for more details.)

+ Complete the After Year-End Closing the General Ledger section of the Year-End Checklist.

+ Complete the After Year-End IRS Tax Forms Checklist.

+ Before 1/15/2025, if your CU has any 1099-NEC forms, create the IRS Electronic Files for CBS (See the How To Export the IRS Tax Data Files to CBS Services section on page 5 of the IRS Electronic Filing Transmittal Sheet).

+ After 2/15/2025, create IRS Electronic File for CBS for all other IRS forms (See the How To Export the IRS Tax Data files to CBS Services on page 5 of the IRS Electronic Filing Transmittal Sheet).

 

Please submit any questions regarding this road map and/or its attachments to the CBS support via our ticketing system (CTT).