Can the form be signed electronically?

Yes. Electronic signatures meet legal standards under the ESIGN Act (15 U.S.C. §7001) and UETA when intent, consent, attribution, and retention are satisfied.

When is notarization required?

Notarization is required when state law or a counterparty contract demands it; deeds and certain powers of attorney often require a notary and sometimes witnesses.

How to correct a completed ITS?

Create an amendment or corrective follow-on ITS referencing the original, attach supporting rationale, and obtain the same approval level as the original authorization.

Who should review high-value changes?

Have a senior finance officer and legal counsel review adjustments above authorized thresholds to confirm accounting, tax, and contractual implications.

How long are signed copies retained?

Retain signed records according to applicable law and policy; IRS minimum is three years, HIPAA six years for PHI, and some industries require longer retention.

Can signNow handle these workflows?

signNow supports templates, audit trails, bulk send, and advanced authentication on higher tiers; a BAA is available for HIPAA workflows where required.

Electronic Signature
Templates
Finance
Financial Follow-On ITS

Financial Follow-On ITS

This template is fully customizable. Edit the text, fill out the fields, and send it for signature. Give it a try!

FINANCIAL FOLLOW-ON ITS

From / Requesting Agency

Agency / Organization Address Point of Contact

To / Servicing Agency

Agency / Organization Address Point of Contact

Reference and Action Summary

Original ITS Number: Original ITS Date:

Original Obligated Amount: $ Requested Follow-On Amount: $

Adjustment Type: Increase Decrease Effective Date:

Accounting and Funding Information

Appropriation / Fund / Account

Organization / Cost Center

Object Class

Period of Performance

to

Itemized Adjustment Summary

Provide line-item descriptions for the follow-on adjustment. Include quantities and unit rates where applicable.

Description	Quantity	Unit Rate	Amount
			$
			$
			$
			$
			$

Subtotal

Tax

Total

Payment Instructions & Late Payment Policy

Payment Method: ACH Wire Check

Payment remittance or special instructions

Late payment on undisputed amounts will incur interest at the rate permitted by applicable law and agency policy from the due date until paid. Disputes must be submitted in writing within 30 days of receipt of invoice or follow-on ITS adjustment notice.

Representations, Warranties, and Certifications

The Requesting Agency certifies that funds are available, legally obligated, and properly authorized for the purpose set forth in this Follow-On ITS and that this follow-on does not cause an anti-deficiency violation. The Servicing Agency's acceptance of this Follow-On ITS constitutes an obligation in accordance with the funding cited herein.

Both agencies acknowledge that records supporting charges are subject to audit. The Requesting Agency shall maintain sufficient documentation to substantiate expenditures and shall provide access to records upon reasonable request.

Additional terms, exceptions or special conditions

Certifications by Fiscal Officer

I certify, as the authorized fiscal officer for the Requesting Agency, that funds in the amount specified are available and reserved for this follow-on action and that obligations arising under this instrument will be recorded against the appropriation and account cited above.

Fiscal Officer Name Title Date Certification of Availability of Funds

I certify funds are available and encumbered for the amount requested in this Follow-On ITS.

Administrative Use / Approval Routing

Routing / Approvals (Finance, Legal, Program) — enter approver, title and date

Requesting Agency - Authorized Official:

By:

Date:

Servicing Agency - Authorized Official:

By:

Date:

What the Financial Follow-On ITS is and when it’s used

The Financial Follow-On ITS is a standardized financial follow-up instruction and settlement form used to record, confirm, or adjust financial transactions after an initial instruction. Typical uses include reconciling payment discrepancies, authorizing supplemental transfers, documenting corrected remittances, or attaching supporting allocation details. The form collects party identifiers, transaction references, amounts, effective dates, and authorization signatures. When completed accurately it creates a clear audit trail that supports accounting, audit, and regulatory review while reducing disputes about subsequent adjustments to core financial records.

Why a clear Financial Follow-On ITS matters

A complete Follow-On ITS reduces reconciliation time, clarifies authorization for post-close adjustments, and preserves an auditable record for compliance and internal controls. It minimizes downstream disputes and supports regulatory and tax reporting requirements when adjustments affect reported amounts.

Who typically prepares and reviews this form

Teams that handle transaction reconciliation, treasury, and client billing most commonly prepare or request Financial Follow-On ITS documents.

Final review is commonly performed by a signatory with delegated authority plus an independent reviewer for higher-value adjustments.

Common signatory roles

Finance Director

Typically authorized to approve follow-on adjustments and sign settlement instructions. Responsible for verifying accounting impact, ensuring supporting documentation is attached, and confirming sufficient internal approval levels before execution.

Authorized Agent

A delegated signer (e.g., treasury manager or controller) who signs on behalf of the organization per internal delegation policies. Must verify identity, authority, and supporting documents before affixing a signature.

Step-by-step: completing the Financial Follow-On ITS

Follow these steps in order to prepare a complete, auditable follow-on instruction.

01

Gather documents: Collect original transaction records, invoices, and bank confirmations.
02

Enter core data: Populate names, TINs, reference numbers, dates, and amounts.
03

Attach support: Attach remittance advice, approvals, and any client authorizations.
04

Authorize and sign: Obtain authorized signature and record the signing method.

How to configure an electronic workflow for follow-on instructions

Design a simple routed workflow that enforces field completion, captures audit data, and preserves the signed record.

Field	Configuration
Signature authentication	Email link or SMS code; advanced MFA on higher-value items
Field validation	Require numeric format for amounts and MM/DD/YYYY for dates
Routing order	Requester → Finance reviewer → Authorized signatory
Notifications	Automated reminders and completion receipts to stakeholders

Typical eSubmission flow for a Financial Follow-On ITS

Electronic submission follows a linear path that captures signatures and an audit trail for each action.

Upload document: Sender uploads PDF or DOCX with fillable fields.
Assign fields: Place name, date, amount, and signature fields for signers.
Send for signature: System emails links or provides a secure signing portal.
Receive completion: Signed copy and audit certificate are archived automatically.

Essential features for professional electronic follow-on instructions

Choose capabilities that reduce manual steps and improve auditability when processing high volumes or regulated transactions.

Audit Trail

Secure, time-stamped logs of each action include IP address, timestamp, and signer events to support compliance and dispute resolution.

Conditional Fields

Show or hide fields based on earlier answers to enforce correct data capture and minimize incomplete submissions.

Bulk Send

Send the same follow-on instruction to many recipients while preserving individualized data and signature tracking for each signer.

Mobile Signing

Allow signers to review and sign on smartphones or tablets while preserving the same audit and authentication controls as desktop signing.

Best practices to minimize errors and speed processing

Adopt controls and templates that make consistent, auditable submissions routine.

Use prebuilt templates

Standardize fields and validation rules so users supply consistent data; templates reduce omitted fields and speed approvals.

Enforce signature authority

Maintain a written delegation matrix and require approver names/titles on each form to limit acceptance of unauthorized changes.

Attach supporting files

Include invoices, remittance advices, and approvals with each follow-on ITS to avoid follow-up requests and reconciliation delays.

Log changes and versions

Retain previous versions and a change log to preserve historical context if amounts or allocations are adjusted after signing.

Key processing milestones for a follow-on instruction

Track these sequential milestones from request to final accounting to ensure timely settlement and reporting.

01

Request Received

Record timestamp and reference number when the follow-on request is submitted.

02

Internal Review

Finance verifies supporting documents and accounting treatment before approval.

03

Authorization

Authorized signer affixes signature and records authority level.

04

Post-Entry Reconciliation

Post adjustment journal entries and reconcile bank or ledger impacts.

Time-sensitive dates to watch when adjustments affect reporting

Some follow-on adjustments can affect tax or payroll reporting; monitor common filing deadlines when corrections change taxable amounts.

Immediate acknowledgement:

Confirm receipt and provide reference number within 24–48 hours.

Tax reporting window:

Adjustments that change taxable income should be resolved before Form deadline (e.g., 1099/ W-2 deadlines).

Payroll cutoff:

Submit payroll-related changes before scheduled payroll close to avoid retro entries.

Bank settlement:

Banking cutoffs may require same-day or next-day submission for timely settlement.

Record retention start:

Retention periods begin on the document creation or effective date, depending on regulator.

Electronic signature vs. digital signature: what to expect

Choose the signature type that meets legal needs and technical requirements for non-repudiation and regulatory compliance.

Criteria	Electronic Signature	Digital Signature
Legal recognition	accepted under esign/ueta	accepted; stronger evidentiary weight
Technical basis	audit trail and intent evidence	pki certificate and cryptography
Non-repudiation strength	moderate, audit-based	high, cryptographically verifiable
Common use cases	routine transactions and approvals	fda records, high-value financial transfers

eSignature vendor comparison for processing Financial Follow-On ITS

Compare starting price, common capabilities, and HIPAA suitability when choosing an eSignature provider for financial follow-on workflows.

	signNow	DocuSign	Adobe Sign	PandaDoc	HelloSign
Starting Price	$8/user/mo	$15/user/mo	$14/user/mo	$19/user/mo	$15/user/mo
Free Trial	7-day free trial	Varies	Varies	Varies	Varies
Bulk Send	Yes	Yes	Yes	Yes	No
Audit Trail	Yes	Yes	Yes	Yes	Yes
HIPAA Compliant	Yes	Yes	Yes	No	No
Envelope Cap	No cap	100 envelopes/user/year	Varies	Varies	Varies

Security and compliance features to expect

Encryption: TLS 1.2/1.3 in transit

Data at rest: AES-256 encryption

Audit logs: Comprehensive, tamper-evident records

Certifications: SOC 2 Type II and ISO 27001

Regulatory: ESIGN, UETA, 21 CFR Part 11 compliance

HIPAA: BAA available for PHI workflows

Penalties and risks from incorrect or late adjustments

Tax reporting fines: 1099 penalties $60–$330 per form (IRC §6721)

Intentional disregard: Higher penalties apply, no cap (IRC §6721)

I-9 violations: Paperwork fines $281–$2,789 per violation

Contract disputes: Reputational risk and potential litigation

Unauthorized changes: May trigger chargebacks or reversal

Missing audit trail: Difficulty proving authorization or intent

Common mistakes to avoid when preparing a follow-on ITS

Omitting the original transaction reference, which slows reconciliation and increases follow-up.
Using inconsistent party names or TINs, causing payer rejection or backup withholding triggers.
Failing to attach supporting documents and approvals, leading to audit findings or processing delays.
Signing without verifying delegated authority, exposing the organization to unauthorized adjustments.

Technical requirements for eSubmission and storage

Ensure the platform supports required integrations, secure file formats, and authentication consistent with internal controls.

Integrations: Salesforce, NetSuite, Google Workspace available
File formats: PDF, DOCX, and Excel supported
Authentication: Email, SMS, and advanced MFA options

Frequently asked questions about the Financial Follow-On ITS

Answers to common practical, legal, and technical questions encountered when preparing or eSigning follow-on financial instructions.

Need help? Contact support

Can the form be signed electronically?
Yes. Electronic signatures meet legal standards under the ESIGN Act (15 U.S.C. §7001) and UETA when intent, consent, attribution, and retention are satisfied.
When is notarization required?
Notarization is required when state law or a counterparty contract demands it; deeds and certain powers of attorney often require a notary and sometimes witnesses.
How to correct a completed ITS?
Create an amendment or corrective follow-on ITS referencing the original, attach supporting rationale, and obtain the same approval level as the original authorization.
Who should review high-value changes?
Have a senior finance officer and legal counsel review adjustments above authorized thresholds to confirm accounting, tax, and contractual implications.
How long are signed copies retained?
Retain signed records according to applicable law and policy; IRS minimum is three years, HIPAA six years for PHI, and some industries require longer retention.
Can signNow handle these workflows?
signNow supports templates, audit trails, bulk send, and advanced authentication on higher tiers; a BAA is available for HIPAA workflows where required.

be ready to get more

Join over 28 million airSlate SignNow users

Sign Now