In the second quarter of 2018, USAC will move its banking services for the USF from its current banking institution to the U.S. Treasury. After the transfer, USAC will no longer accept payments to, or distribute funds from, its current bank account. Instead, USAC will process payments and distributions through the U.S. Treasury.
Most notably, beginning in the second quarter of 2018, USAC will no longer accept checks or wire transfers.
This transfer will mean a few changes for those companies that contribute to the USF, service providers who participate in any of the four USF programs, and those schools and libraries who receive direct payments from USAC.
Beginning in the second quarter of 2018, these are the changes to the process for USF Contributors:
Beginning in the second quarter of 2018, disbursements will continue to be made via ACH payments; they will come from the U.S. Treasury instead of USAC's current banking institution. The ACH payments will be identified as coming from USAC as they are today. USAC will continue to operate the Universal Service Fund.
USF recipients will not be affected by this change and do not need to take any action.
All non-contribution payments to USAC, such as returned funds, COMADs (commitment adjustments), and program recovery payments, must be paid through www.usac.org. USAC will not accept checks or wire transfers after the second quarter of 2018.
In early 2018 we will provide additional information about the exact timing of the transfer to the U.S. Treasury and training opportunities to be offered. Please email CustomerSupport@usac.org with any immediate questions, using the subject line "Treasury."