Document Update: Informed Consumer Choice Disclosure Notice (Cx41)
Jan 14, 2022
New functionality to trigger additional copies of IRS Form 4506-C was announced last month. The fields that trigger new Request 2, Request 3, or Request 4 copies per borrower have been updated to list the following:
Print Borrower 1 4506 Request 2 (FI 152915)
Print Borrower 1 4506 Request 3 (FI 152916)
Print Borrower 1 4506 Request 4 (FI 152917)
Print Borrower 2 4506 Request 2 (FI 152918)
Print Borrower 2 4506 Request 3 (FI 152919)
Print Borrower 2 4506 Request 4 (FI 152920)
Print Borrower 3 4506 Request 2 (FI 152921)
Print Borrower 3 4506 Request 3 (FI 152922)
Print Borrower 3 4506 Request 4 (FI 152923)
Print Borrower 4 4506 Request 2 (FI 152924)
Print Borrower 4 4506 Request 3 (FI 152925)
Print Borrower 4 4506 Request 4 (FI 152926)
These new per borrower “Print” fields trigger additional 4506-T copies to print, not the “Form Name” fields as previously listed in this area.
The following loan level print trigger fields were listed correctly:
Print 4506 Request 2 (FI 152912)
Print 4506 Request 3 (FI 152913)
Print 4506 Request 4 (FI 152914)
Either set of “Print” fields can be used to trigger additional 4506-C copies to print and work independently of “Use Borrower-specific Fields on 4506-T” (FI 111704). “Use Borrower-specific Fields on 4506-T” is only used to indicate which set of fields populates the document content.
Also, note the IRS has announced an extension to the “clean version” deadline for Form 4506-C to March 1, 2022.
If you have any question or concerns about this announcement update, please contact Client Support at 1.800.497.3584.
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The preceding is for informational purposes only and is not and may not be construed as legal advice. No third-party entity may rely upon anything contained herein when making legal and/or other determinations regarding its practices, and such third party should consult with an attorney prior to embarking upon any specific course of action.