New Form 498 Status Tool Released
September 30, 2016
~ EPC Log-in Not Required to Use Tool~
USAC has just released a new tool to help applicants figure out if their Form 498 Banking Information Form has been approved. The tool can be accessed at: http://www.usac.org/sl/tools/498-ID-Status.aspx.
As you know, the Form 498 must be submitted AND approved by USAC before the BEAR can be submitted. Why? Beginning immediately, no paper reimbursement checks will be mailed; all payments will be electronically transferred from USAC to the applicant’s bank account. In order for USAC to know where to transfer the funds, all BEAR-users must complete the Form 498 in order to provide USAC with their bank account and bank routing information.
The 498 Status Tool only shows 498 ID Number, BEN and Status (which will be either Certified or Approved) — it does not list any applicant names. Note: Certified means “submitted” and the form must be in Approved status before you can submit the Form 472 BEAR Reimbursement Form. The easiest way to search the list is to click ‘Control F’ and type in your BEN number. Also, attached to this message is a list of FY 2015 Pennsylvania BENs and whether they have an approved 498. Note: if your BEN is listed but you’re not filing a BEAR, you don’t need an approved 498. However, you’ll need one if you ever want to file a future BEAR, so it’s best to get it approved sooner than later.
Important Notes about the Form 498:
- The Form 498 must be filed in EPC and must be certified by a school or library official.
- In 2-4 days after the 498 is submitted, USAC will send you an e-mail with a link to upload a copy of a voided check or other account document to validate the banking data.
- About a week after the document is uploaded, USAC will (should) sent you an approval e-mail.
- The 498 must be submitted by a “School or Library Official.” If you cannot find the 498 under Related Actions in EPC, it likely means your EPC User Permission isn’t set to “School or Library Official.”
- If you submitted the 498 but haven’t received the Upload Link (http://efileweb.usac.org/ContributorManagement/V1/BankValidation) or the 498 Approval E-mail, call 888-641-8722, Option 5, then Option 2.
Attached is an updated step-by-step guide to filing the Form 498. It’s an easy form to complete if you have this data available:
- Name of General Financial Contact (must be an EPC user)
- Name of Remittance Contact (can be anyone, regardless of whether they’re in EPC)
- Name of Bank
- School or Library’s Federal EIN Number
- DUN and Bradstreet Number (DUNS) (the Guide explains where to quickly find this data)
- Financial Institution Account Number for ACH
- ACH Financial Institution Transit Number
- Copy of Voided Check or Bank Statement
Note: The Form 498 may be drafted by a consultant, but it must be “Sent for Certification” to an EPC user who is designated in the EPC User Permissions as a “School or Library Official.” The attached Guide explains where see the EPC User Permissions.
Please don’t put off filing this form or you will run out of time in October to file the BEAR Reimbursement Form.
If you have any questions, please don’t hesitate to contact me at email@example.com.