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FIDM/FIRM Presentation SEATA Conference

FIDM/FIRM Presentation SEATA Conference. July 10th, 2017. April 1, 2008. Overview of Tax Match. Overview of System Security Benefits Consortium Information Statistics Q/A Discussion. Informatix FIDM/Data Match States. FIDM and Tax Match.

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FIDM/FIRM Presentation SEATA Conference

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  1. FIDM/FIRM PresentationSEATA Conference July 10th, 2017 April 1, 2008

  2. Overview of Tax Match • Overview of System • Security • Benefits • Consortium Information • Statistics • Q/A Discussion

  3. Informatix FIDM/Data Match States

  4. FIDM and Tax Match • FIDM legislation drives and defines the Tax Match process • Informatix solution provides both match and lien components and a Call Center • Outreach Services for FI’s and State Staff • Solution meets Department of Revenue’s need to discover assets, increase collections, and answer customer concerns • Informatix currently provides Data Match Services to 51 state agencies (12 Revenue Agencies)

  5. Match Methods • Method 1 (All Accounts) Each quarter, the financial institution will submit to Informatix a file containing the required information on each of the institution’s depositors. • Method 2 (Matched Accounts) Each quarter, Informatix will generate a debtor file to each financial institution. The financial institution will be responsible for running the data match and returning a file containing only the matched records.

  6. System Overview

  7. Security • Operations Center Security • Key Card Entry, Camera system • Data Security • Meets IRS Pub 1075 Requirements • Data is used for matching purposes only • Encryption of data at rest • Authorized personnel receives/processes media • All Data is shredded or destroyed • Media Tracking - Bar Code System • History of Secure Processing: Informatix has never had a single piece of data compromised or lost in 17 years of FIDM processing

  8. Benefits for Revenue Agencies • Increased collections immediately • Implementation in 90 days or less • More targeted approach to bank levies • Immediate data match results • Increased Payment Activity due to Frozen Assets • Outreach Services and Technical and Customer Support Hotlines • Extensive customizable reporting • Increase in Taxpayers that make Payment Arrangements • Utilization of current matching software (no changes for FIs) • Decrease in time it takes to issue a levy • Low Cost • Highly Secure Transfer Methods and Processing Center • Informatix has long-term good relationships with FIs

  9. Consortium Information • Lead State issues RFP on behalf of member states • 2 ways to establish consortiums through contracting • Lead State contracts with vendor, member states contract with lead state for services • All member states contract with vendor individually

  10. Benefits of Inter-State Consortiums • Sharing of Data Across State Lines • Best Practices • Access to other states in-state FIs • Discovery of Accounts in other states • Increased Collections • One Procurement Process for multiple states

  11. In-state Statistics Florida DOR (Quarter 1, 2017): Number of FIs: 315 Number of Debtors: 421,005 Number of Matches: 521,717 Located Funds: $10,863,722,519 California FTB (Quarter 1, 2017): Number of FIs: 581 Number of Debtors: 3,326,778 Number of Matches: 5,330,991 Located Funds: $34,917,595,079

  12. Interstate Statistics

  13. Informatix Story • We are the largest Data Match vendor in the country with over 50 state agency customers • Informatix has been providing FIDM/Data Match services to state agencies for 17 years • We currently match quarterly with over 12,000 Financial Institutions • Informatix was founded in 1986 and has been providing IT support services to state government entities for 31 years

  14. Discussion

  15. Contact Information Thanks for your time today! • Danielle Pittman – Director, Data Match Services danielle.pittman@informatixinc.com (623) 322-9638 • Diane Hogan – Business Development diane.hogan@informatixinc.com (512) 840-1354

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