Information for Cash Deposits

Depositing entities may deposit cash with the Collateral Administration Section in order to meet the deposit requirements of most public authorities/governmental entities. Cash deposits and releases may take as long as 10 working days to be processed and placed in or taken out of investment status due to other divisions and agencies being involved in this process. No interest is earned during this period of time. The interest rate is the same as that earned on state agencies' cash investments made by the Division of Treasury, Bureau of Funds Management pursuant to Section 17.57, Florida Statutes. This rate will change with market conditions and there is no guaranteed rate. (See Treasury Cash Rates)

Cash deposits may be made by company check, cashier's check, or money order made payable to the Department of Financial Services, State of Florida. A transmittal letter must be attached to the check/money order indicating both the depositing entity's name and that the deposit is for the "Treasury Cash Deposit Trust Fund (Type K 11-79)".  A copy of the transmittal letter must also be sent to the Collateral Administration Section.  Cash deposits can be sent by mail, physical/express delivery, or wire transfer per the instructions below.
 
Mail:
Department of Financial Services
Revenue Processing Section
Post Office Box 6100 
Tallahassee, Florida 32314-6100
Physical/express delivery:
Department of Financial Services 
Bureau of Financial Services
Larson Building 
200 East Gaines Street 
Room G-16 
Tallahassee, Florida 32399-0315 

Questions concerning the receipt of checks or money orders should be directed to the Bureau of Financial Services, Receipts Section at (850) 413-3181. 

Wiring instructions, specifically bank and routing number information, may be requested by emailing CollateralManagement@FLDFS.com.

It is imperative that prior to wiring funds a copy of the transmittal letter be faxed directly to Collateral Administration at (850)413-2721 indicating the following:

a) the date the funds will be wired,
b) the name of the entity for which the cash deposit is to be held, and
c) the funds are to be deposited in the Treasury Cash Deposit Trust Fund (Type K 11-79).
Direct any questions concerning the wiring of funds to Collateral Administration at (850) 413-3167.

Transmittal letters may be mailed to: 

Division of Treasury
Bureau of Collateral Management
Collateral Administration Section
200 East Gaines Street
Tallahassee, FL 32399-0345
Or Faxed to:
(850) 413-2721
A tax identification number for the depositing entity must be furnished for Internal Revenue purposes. Unless an account is established whereby a public authority/governmental entity provides other instructions, interest will be paid to the depositing entity.  Interest is distributed quarterly as follows:
 
January 
March Paid in April
April
June Paid in July 
July
September  Paid in October 
October
December Paid in January 

**IMPORTANT**:  The Florida Department of Financial Services (DFS) requires all entities who receive payments (including principal returned or interest earned for Treasury Cash collateral deposits) from the State of Florida to submit a Substitute Form W-9.  No payments will be processed unless the Substitute Form W-9 is on file.  Therefore, any entity depositing cash for collateral should immediately comply with this requirement or risk the delay of future payments.  The Substitute Form W-9 must be submitted online (required) at the following link, https://flvendor.myfloridacfo.com.  DFS will not accept an IRS Form W-9.  If you have any questions or difficulties in the process please call the Department of Financial Services Vendor Management Section at (850) 413-5519 or email them at FLW9@myfloridacfo.com.

Links

 

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