Closing Escheat Deposit Accounts

Financial Institutions commonly use the SilverLake menu option Enter/Update Closing Transactions to manually close escheat accounts. To automate this process, you need to understand:

• Which API calls support escheat account closures
• How to prepare the closing transaction
• How to handle required overrides
• How to manage the GL postings that accompany escheat closures

Why XferAdd Will Not Work

XferAdd cannot be used for escheat account closures because it does not support account types T or G.

To close an escheat account, you must post a closing debit transaction via TrnAdd, which supports GL accounts, overrides, and closing logic.

Use TrnAdd to Close an Escheat Account

To close an escheat account, you must:

• Use a TrnAdd request
• Specify a Debit to Closing transaction code
• Include an override allowing the debit of an escheat account
• Post an amount that brings the account balance to exactly zero
• Allow EOD processing to complete the actual account closure

Step‑by‑Step Instructions

Step 1 — Determine the Closing Amount

You must calculate the total amount to debit:

Closing Amount = Current Balance + Accrued Interest

This ensures the account reaches exactly $0.00, which is required for automatic closure.

Step 2 — Create a TrnAdd Request for the Closing Debit

Create a TrnAdd request with:

• Transaction Code: Debit to Closing
• Amount: The Closing Amount calculated above
• Override: Include ErrOvrRdInfoArray with ErrCode = 4

ErrCode = 4 overrides the system fault that normally blocks debits on escheat accounts.

Result:

• The account is drawn to a zero balance
• The core marks it for closure during EOD processing

Step 3 — Offset the DDA Settlement GL

Once the escheat account balance is reduced to zero, you must balance the GL.

Post a second TrnAdd:

• Debit the DDA Settlement GL
• Amount equals the Closing Amount
• This balances the settlement created by the closing debit in Step 2

Step 4 — Post the Funds to the Final Escheat GL (If Required)

Depending on how your FI’s escheat process is configured, you may need a third TrnAdd:

• Credit the final escheat holding GL
• Deposit the escheat amount into its permanent destination GL

This step varies by institution based on internal escheat workflows and compliance requirements.

End-of-Day Closure

After the above transactions are posted:

• The escheat account will reach a zero balance
• EOD processing will automatically close the account

No additional API call is required to finalize the closure once the balance is zero.