Set Investment Dormant Account Status
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Overview of IL307
The Set Investment Dormant Account Status report allows you to search for dormant investment accounts and add an AI code to the constituent record when the account is found to have no transaction activity other than investment accruals and compounding of interest. The report output displays information such as the PIN of the tax reporting investor, the account number, old investment status and new status. To run the report:
- From the DDI Connect main menu, double-click Financial Services
- Double-click Investments
- Double-click Reports
- Double-click 307 Set Investment Dormant Account Status. The parameters screen will launch:
The following fields are available on this screen:
| Field | Description |
|---|---|
| Update | If selected, the system will update constituent accounts with the INDV AI code. If not selected, report will run in preview mode |
| Base date | Enter the date you wish to use for the report. You can type the date in mm/dd/yyyy format or click the calendar icon to select the date |
| Number of years before base date to be flagged dormant | Enter the number of years prior to the base date that you wish to use to flag investors as being dormant. For example, if you enter a 3 here, the system will go back 3 years from the base date. Any investment without any activity for that 3 years and beyond will be flagged as dormant |
Print Options
After clicking the Print Options button you will see the following options. Choose the desired options and click OK to return to the report parameters screen.
| Option | Description |
|---|---|
| Printer | Click the drop down arrow to select from a list of available printers. DDI Connect uses your default printer unless told otherwise |
| Format | Click the drop down arrow to select from a list of available formats. Select paper size, number of columns, and number of rows for printing. Each report has built-in format defaults. Select “Use Defaults” to use the built-in report defaults. The number of rows and columns controls the print size and amount of information per page |
| Memo | If you wish, you can add a memo to the output of the report. NOTE: It is recommended that Word documents be saved with the .docx extension |
| View Report | This option generates a pdf file that is displayed on the screen when the report is generated |
| Archive Report | If this option is selected, the system will archive the report in the DDI Connect report archives. For information on working with archived reports, please reference this page: Archived Report Viewer |
| Print Report | If selected, the system will generate the report output to your default printer. NOTE: You will also receive a pdf version of the report, displayed on your screen |
| Print via PDF | Prints directly to your printer. |
| This option allows you to send a .pdf attachment of the report to the indicated users' email addresses. When OK is clicked, a dialog box will open requesting a recipient | |
| Duplex/Top | Prints the report on both sides of the paper in landscape style. The printer must be capable of printing on both sides or an error will occur |
| Duplex/Side | Prints the report on both sides of the paper in portrait style. The printer must be capable of printing on both sides or an error will occur |
| Green bar | Adds shaded, horizontal bars to the report, making it easier to read across columns |
| No dialog | Selecting this option means that no ‘Report Completed’ dialog will display after the report has been generated |
| Extra copies | If you want extra copies of the report generated, type the number in this field |
Click Start. The system will generate the report based on the parameters you selected, and display the results. Click below to view a sample of this report.
Dormancy Rules
- Account is considered active (not dormant) when account owns an active loan
- Account is considered active when one of the chosen memo codes are found since the tentative dormancy date
- Account is considered active when a demand note was purchased since the tentative dormancy date
- Account is considered active when any one of the following transactions are found since the tentative dormancy date
| Tran ID | Description |
|---|---|
| 011 | Online investment note |
| 020 | Reregister investment (old) |
| 021 | Reregister investment (new) |
| 030 | Transfer investment (old) |
| 031 | Transfer investment (new) |
| 040 | Investment prin/int transfer (from) |
| 041 | Investment prin/int transfer (to) |
| 050 | Investment withdraw (batch check) |
| 051 | Investment Withdrawal (EFTS-Checking) |
| 052 | Investment withdraw (online check) |
| 053 | Investment withdraw (manual check) |
| 054 | Investment Withdrawal (Loan Transfer) |
| 055 | Investment Withdrawal (Gift Transfer) |
| 056 | Investment Withdrawal (Health Policy Transfer) |
| 057 | Investment Withdrawal (Cash) |
| 058 | Investment Withdrawal (EFTS-Savings) |
| 070 | Investment deposit |
| 110 | New Investment |
| 131 | Pay investment interest by check |
| 132 | Pay investment interest by bank wire |
| 135 | Pay investment int. by EFTS savings |
