FDIC COVID Operational 14 – Alternative Signature Processes. With regard to Part 363 Annual Reports and Notifications of Late Filings, can financial institutions submit documents with email authorization instead of the traditional wet signatures?

Compliance > COVID & Pandemic-Related
Q:   Alternative Signature Processes. With regard to Part 363 Annual Reports and Notifications of Late Filings, can financial institutions submit documents with email authorization instead of the traditional wet signatures?
 
A:   Yes, it is acceptable for financial institutions to use alternative methods to sign Part 363 Annual Reports and Notifications of Late Filing, such as email authorization and typing the name of the individual or individuals signing the reports. However, financial institutions should retain copies of Parts 363 Annual Reports and Notifications of Late Filing with original signatures.
 
For more information regarding electronic submissions, refer to FIL-71-2016, Electronic Filing of Part 363 Annual Reports and Other Reports and Notices, which addresses filing Part 363 Annual Reports with the FDIC using FDIC Connect – Supervisory Business Center (FCX- SBC).
 
 
This Q&A was contained in the Frequently Asked Questions for Financial Institutions Affected by the Coronavirus Disease 2019 (Referred to as COVID-19) – As of March 3, 2021 (which may be updated from time to time).  This may be found on the FDIC’s website here:  https://www.fdic.gov/Coronavirus/faq-fi.pdf.
 

Add Feedback