Form FAQs

 FI-52101 - Monetary Authorities

 Categories

• Sector Questions
• Form Questions

 Questions

• Sector Questions

1.  Which finance or insurance form should I use?
2.  If I don't have information should I leave it blank?
3.  What should I report for revenue (Item 5)?
4.  What if I don't have any revenue (Item 5)?
5.  How should I report detail of sales, shipments, receipts, or revenue (Item 22)?
6.  How are holding companies classified?



• Form Questions

7.  What is a Federal Reserve Bank (Item 19)?
8.  What are Automated Clearinghouse (ACH) products – fees (Item 22)?

 Answers

• Sector Questions




1.  Which finance or insurance form should I use?

Please use the census form(s) that you received. Completing and submitting the form you received will expedite your response, and any FI-52xxx form should be effective to provide information for any finance or insurance establishment. Please use the "Other..." category if necessary (for example, for Item 19 or 22), and include any needed explanation of your responses in the "Remarks" section available on most forms (after Item 29). If you need forms, please contact us.

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2.  If I don't have information should I leave it blank?

No. Please provide your best estimate of any item that is not available in your business records. We find that your best estimate is much better than no information at all. If you do provide estimates, use the "Remarks" section available on most forms (after Item 29) to identify and explain them.

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3.  What should I report for revenue (Item 5)?

Please report revenue on a gross (not net) basis. However, revenue for some establishments, such as brokers and dealers in products, should be reported on a net basis. Review your Information Sheet for examples of how to report revenue(s) in Items 5 and 22.

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4.  What if I don't have any revenue (Item 5)?

Please review your Information Sheet and census form, for both Items 5 and 22. If your establishment did not generate any revenue during 2007, please report zero in Items 5 and 22 and use the "Remarks" section, available on most forms (after Item 29), to identify and explain your report.

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5.  How should I report detail of sales, shipments, receipts, or revenue (Item 22)?

Please report for each listed service product that accounted for at least 1 percent of the establishment's total sales or revenue reported in Item 5, and provide the subtotals requested for selected sub-items. Report figures in either whole dollars or whole percentages, and assure that the total for all sub-items reported equals the dollar amount reported in Item 5 or 100 percent. Also, review your Information Sheet and census form information for Item 22 to find more complete instructions on how to report specific sub-items.

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6.  How are holding companies classified?

Holding companies, including finance and insurance holding companies, are classified in NAICS sector 55, Management of Companies and Enterprises. Bank, non-bank, and active management companies are included in sector 55 and will receive a census form numbered MN-55xxx.

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• Form Questions




7.  What is a Federal Reserve Bank (Item 19)?

A Federal Reserve Bank is one of 12 regional banks that along with their branches, make up the U.S. Federal Reserve System. The role of Federal Reserve banks include: monitoring commercial and savings banks, ensuring that financial institutions follow Federal Reserve regulations, providing access to emergency funds, and to serve as a depository for member banks.

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8.  What are Automated Clearinghouse (ACH) products – fees (Item 22)?

Automated Clearinghouse (ACH) products – fees include payroll deposit fees, bill and utility payment fees, and other Automated Clearinghouse fees.

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