FMSMF Direct Deposit Policy
PLEASE NOTE: Currently available ONLY to U.S. Financial Institutions

Irrespective of the permission granted in the Direct Deposit enrollment form that authorizes the Fund to debit a Participating Musician's or Beneficiary's account, in the event of an erroneous deposit into his/her account**, it is the policy of the Fund that no such debit(s) shall be taken without prior notification via certified mail to the Participating Musician or Beneficiary at the Participating Musician's or Beneficiary's address of record with the Fund. In addition, the Fund shall provide such Participating Musician/Beneficiary the opportunity to provide the Fund with a reason in writing why such debit should not be taken, and to request a reconsideration of the debit. The request for a reconsideration-which must be accompanied by the written reason(s) for such reconsideration-must be submitted via certified mail to the Fund Administrator, Film Musicians Secondary Markets Fund, 12001 Ventura Blvd, 5th Floor, Studio City, CA 91604 and postmarked within two (2) business days from the date of the receipt of the notice from the Fund of the erroneous deposit. The Fund Administrator shall review Participant's request and make final determination as to the validity of the claim. If the Fund Administrator rejects the Participant's request or no request is made overpayments shall generally be deducted from the Participating Musician's/Beneficiary's disbursal subsequent to the disbursal in which the overpayment was made. In the unlikely event that it should be necessary to debit the Participating Musician's/Beneficiary's account, final notice shall be given via certified mail to the Participating Musician or Beneficiary at the Participating Musician's or Beneficiary's address of record with the Fund at least two days prior to executing the debit.