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This article applies to:

  • Product: ONESOURCE Trust Tax

Preparing, Reviewing and Transmitting ROC Factors Back-End Files

If your trust accounting vendor is SEI Investments Company (SEI) and your PAN is enabled for Return of Capital (ROC) Factors back-end files then ONESOURCE Trust Tax can be used to prepare, review and transmit ROC Factors back-end files to SEI. Trust Tax users must be granted the
Can request tax history be sent to TAV
 user right before they can prepare, review and transmit ROC Factors back-end files.
note
Contact your Client Manager to enable your PAN(s) for ROC Factors back-end files.

Granting User Rights

User rights are granted to Trust Tax users only after the user is added to ONESOURCE Classic or the User Administration module of the ONESOURCE platform.
To grant the user rights for preparing, reviewing and transmitting ROC Factors back-end files:
  1. Select
    SETUP
    ,
    Users
     then
    Trust Tax Users
    .
  2. Select the
    User ID
     link for the Trust Tax user you want to grant user rights to.
  3. In the
    Rights
     grid, review the check box for the
    Can request tax history be sent to TAV
     user right to ensure it is selected. If the check box is not selected, be sure to select it. Otherwise, the user right is not granted to the user.
  4. Select
    Save
    .

Preparing ROC Factors Back-End Files

A prepared ROC Factors back-end file includes all ROC factors for transactions with a tax effective date in the tax year you are logged in to that have a posting date within the date range you enter when preparing the back-end file. ONESOURCE Trust Tax does not provide a way for you to exclude ROC factors for an asset.
note
If factors are combined for several PANs, then you must prepare the ROC Factors back-end file from the primary PAN. The primary PAN was identified when your PAN was enabled for ROC Factors back-end files.
To prepare a ROC Factors back-end file:
  1. Select
    HOME
    ,
    Admin
     then
    Send ROCR Factors to TAV
    . If you do not see the
    Send ROCR Factors to TAV
     subtopic then your PAN may not be enabled, you may not have been granted the appropriate user right, or you may need to login to your primary PAN.
  2. The Send ROC Factors to TAV page displays. If this is the first time you are preparing a ROC Factors back-end file, the
    Only include factors applied in the following date range
     check box is unavailable for selection. Complete step 4 to prepare your ROC Factors back-end file.
  3. Select the
    Only include factors applied in the following date range
     check box.
  4. Enter a date range in the
    From
     and
    Through
     fields to include in the back-end file only those ROC factors that were received during the date range. The
    From
     field defaults to the day after the preceding ROC Factors back-end file was sent, and the
    Through
     field defaults to today's date.
    note
    During processing, SEI will not use a ROC factor if the factor was included in a previously sent ROC Factor back-end file and the factor remains unchanged in the current back-end file. If, however, the ROC factor was updated then the factor must be reversed at SEI before the update can take effect.
  5. Select
    Prepare
    . You can use the
    Current Events
     collapsible section on the Request Status and History page to monitor the pending and processing request. After the back-end file is prepared, you can review it using the Documents and Data Files page.

Reviewing ROC Factors Back-End Files and Exception Reports

Prepared ROC Factors back-end files are available for review on the Documents and Data Files page. Any issues identified during preparation are included in an exception report. The exception report, which is also available on the Documents and Data Files page, is a comma-delimited text file that can be exported from ONESOURCE Trust Tax and opened in Microsoft Excel. The report lists any factors that are excluded from the back-end file due to the following conditions:
  • Different factors for the same asset-Occurs if the factors from more than one PAN are combined and there are different factors for the same asset ID, original tax code and date range.
  • Factoring by units is not supported
If you want to include any excluded ROC factors, you will need to change the factor information in ONESOURCE Trust Tax then prepare the ROC Factors back-end file again.
To review a ROC Factors back-end file and/or the associated exception report:
  1. Select
    HOME
    ,
    Admin
     then
    Documents and Data Files
    .
  2. On the Documents and Data Files page, locate the prepared ROC Factors back-end file in the applicable tax year category and the
    Folder: Assets-Mutual Fund Information
     subcategory. If an exception report was generated, it will be under the ROC Factors back-end file and will have a description of
    ROC Factors back-end exception report
    .
  3. Select the
    File Name
     link for the ROC Factors back-end file or the exception report. A message displays, asking if you want to open or save the file.
  4. Select
    Open
     to open the file or select
    Save
     to export the file.
  5. Review the ROC Factors back-end file or exception report. To include any ROC factors listed in the exception report in a ROC Factors back-end file, change the factor information in ONESOURCE Trust Tax then prepare the ROC Factors back-end file. See if you are ready to transmit the ROC Factors back-end file to SEI.

Transmitting ROC Factors Back-End Files

To transmit a ROC Factors back-end file:
  1. Select
    HOME
    ,
    Admin
     then
    Send ROCR Factors to TAV
    .
  2. Select
    Send
    . The file is automatically sent to SEI.
    note
    Contact SEI if you have questions about how the information contained in the ROC Factors back-end file is used by SEI or how the information is sent back to ONESOURCE Trust Tax. ONESOURCE Trust Tax does not have this information.