The Cash Concentration Service provides better monitoring and control of funds and allows companies with locations, subsidiaries or depository banks across the country to move funds into a single bank account.

Electronic concentration allows you to move funds from multiple depository locations into a single, easily monitored cash pool. You can then make the best possible use of total available cash assets.

Features/Benefits:

1. Transfer cost and data reporting costs are reduced.
2. Your local managers can make deposits into banks logistically suited to their offices yet concentrate to Amegy Bank of Texas with a minimum of effort on their part.
3. Cash flow forecasting is much more certain, resulting in better cash management and enhanced profitability.
4. Your company can maintain and add to their list of locations without interfacing with the bank or a vendor.
   
   

Direct Deposit of Payroll Service

Since payroll probably represents a significant part of your company's total disbursements, Direct Deposit is an essential element in effective treasury management.

The Direct Deposit of Payroll Service can effectively and efficiently deposit your employees' payroll checks on time, no matter where they bank.

Features/Benefits:

To Company:

1. Reduces the cost associated with stop payments/replacements due to lost checks.
2. Offers an additional corporate benefit for employees.
3. Reduces check distribution expense.
   
   

To Employees:

1. Eliminates possible lost, stolen, or forged paychecks.
2. Allows automatic depositing when employees are on vacation, on business trips or on sick leave.
3. Helps to maintain the confidentiality as transactions are known only to the employee and the company.
   

Electronic Federal Tax Payment Service (EFTPS)

In an effort to move tax information and funds faster, the U.S. Department of the Treasury's Financial Management Service (FMS) and Internal Revenue Service (IRS) implemented a nationwide Federal tax payment system known as Electronic Federal Tax Payment System (EFTPS).

Electronic Federal Tax Payment Service converts the current paper-based tax payment system into an electronic system.

Features/Benefits:

1. Corporations have the option of choosing how they want to make their Federal tax deposits through the Automated Clearing House (ACH): 1) ACH Debit, or 2) ACH Credit.
2. The corporation's records with the IRS will be automatically updated.
3. The following are a few examples of the types of tax payments that can be made electronically:

• Form 720, Quarterly Federal Excise Tax
  
  
• Form 940, Employer's Annual Federal Unemployment Tax (FUTA)
  
  
• Form 941, Employer's Quarterly Federal Tax
  
  
• Form 945, Annual Return of Withheld Federal Income Tax
  
  
• Form 990 PF, Return of Private Foundation
  
  
• Form 990-T, Exempt Organization Business Income Tax
  
  
• Form 4947(a)(1), Charitable Trust Treated as a Private Foundation
  
  
• Form 1042, Annual Withholding Tax Return for U.S. Sources on Income of Foreign Persons
  
  
• Form 1120, U.S. Corporation Income Tax