Maintaining Withholding Information

The Withholding Maintenance dialog box lets you maintain a member’s withholding information. To access the Withholding Maintenance dialog box, complete the following steps:

1. Under Member Services on the Portico Explorer Bar, click Account Information. The Overview tab appears on top.
2. Click the Interest/Div/Lt Chgs/Fees tab.
3. Locate the member using the search tool on the top menu bar. Select the down arrow to select the search method, then enter the search criteria. Select the green arrow or press ENTER to locate the member.
4. Click Maintain Withholdings to display the Withholding Maintenance dialog box.

How do I? and Field Help

The Account Listing provides a list of the member's share and certificate accounts and the YTD withholding. You can maintain the values in the YTD Federal W/H and YTD State W/H columns/

Column Heading	Description
Unlabeled (Account Type)	The type of account this member owns. The valid types are: S - Share account or C - Certificate account.
Shares	The share type or certificate number.
Description	The description of the account.
CD Type	The certificate type.
Balance	The balance of the account. Length: 12 numeric including decimal
YTD Fed W/H	The year-to-date Federal tax amount withheld on share or certificate accounts. Withholding amounts cannot be maintained on IRA accounts. Length: 12 numeric including decimal Keyword: FW
YTD State W/H	The year-to-date state tax amount withheld on share or certificate accounts. Withholding amounts cannot be maintained on IRA accounts. Length: 12 numeric including decimal
IRA Federal Withholding	Select this check box to calculate and collect federal withholding on interest that is disbursed by check or transferred. Only override tellers can maintain this check box.
IRA State Withholding	Select this check box to calculate and collect state withholding on interest that is disbursed by check or transferred . The state withholding amount will be either automatically or manually calculated depending on the credit union processing rules. Only override tellers can maintain this check box. Keyword: SW
Dividend Federal Withholding	Select this check box to automatically withhold a percentage of the member's dividends during dividend processing. The default percentages are specified on the Credit Union Profile - Credit Union tab. Portico credits general ledger account 844000 for the withholding amount. Withholding also occurs if the share dividend or certificate interest is calculated online. The Dividend Paid Report 220 lists the members and dividend amounts withheld. If the Dividend Withholding check box is selected on the Stmts/Reporting/Notices tab, the share type dividend frequency is not annual, and the dividend amount is less than $9.99, the dividends are annualized to determine if dividends should be withheld using the following formula: Dividend amount/(the number of days between the last dividend date and the next dividend date) X the number of days in the year. If the annualized dividend amount is at least $10, then dividends are withheld. For example, if there are 31 days between December 31, the last dividend date, and January 31, the next dividend date and the dividend amount is $0.77. The annualized dividend amount is .77 / 31 (rounded) x 365 = 7.30 rounded. If there are 88 days between December 31, the last dividend date, and March 31, the next dividend date and the dividend amount is $2.15. The annualized dividend amount is 2.15/88 x 365 = 8.92 rounded. Keyword: WD

Click Save to save your changes. Click Cancel to disregard your changes.

To view and maintain a member’s withholding information, users must be assigned to the following security groups or you can add the following permissions to a credit union-defined security group using the Security Group Permissions – Update window.

Permissions	Security Groups
MbrInfo - Interest/Dividends - Button - Maintain Withholdings - View Only	Teller - Basic Teller - Advanced Member Services - User
MbrInfo - Interest/Dividends - Button - Maintain Withholdings - Maintain	Teller - Advanced Member Services - User

General Ledger Effects: none | Related Reports: Non-Financial Transaction Register Report 030 (reports maintenance)

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