RR04 Reason Code: Regulatory Reason
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RR04 means regulatory reason in the ISO 20022 return reason code set. The payment was stopped for a regulatory reason the bank does not explain further, typically a sanctions, embargo or compliance decision.
- Code
- RR04
- ISO name
- RegulatoryReason
- Status
- Registered
- Last updated
- 2009-04-01
Official definition
Regulatory Reason
What it means in practice
In a pacs.004 payment return, a return reason code explains why funds that were already settled are being sent back. It sits in TxInf/RtrRsnInf/Rsn/Cd, and bank statements (camt.053, camt.054) repeat it in RtrInf/Rsn/Cd.
The payment was stopped for a regulatory reason the bank does not explain further, typically a sanctions, embargo or compliance decision.
Banks are often not allowed to say more, so the code is deliberately vague.
What to do
- Do not resend or split the payment to get around the decision.
- Involve your compliance team and ask your bank what information it needs. Keep a record of the case.
Messages and fields that use ExternalReturnReason1Code
| Message | Element path |
|---|---|
| pacs.004 | TxInf/RtrRsnInf/Rsn/Cd, OrgnlGrpInf/RtrRsnInf/Rsn/Cd |
| camt.053 | Stmt/Ntry/NtryDtls/TxDtls/RtrInf/Rsn/Cd |
| camt.054 | Ntfctn/Ntry/NtryDtls/TxDtls/RtrInf/Rsn/Cd |
| camt.052 | Rpt/Ntry/NtryDtls/TxDtls/RtrInf/Rsn/Cd |
| trck.001 | TrckrStsAndTx/Tx/RjctRtrRsn/Rsn/Cd, TrckrStsAndTx/TxSts/RjctRtrRsn/Rsn/Cd |
| trck.002 | TrckrStsAndTx/Tx/RjctRtrRsn/Rsn/Cd, TrckrStsAndTx/TxSts/RjctRtrRsn/Rsn/Cd |
| trck.004 | TrckrStsAndTx/Tx/RjctRtrRsn/Rsn/Cd, TrckrStsAndTx/TxSts/RjctRtrRsn/Rsn/Cd |
RR04 in other code sets
- RR04 in ExternalStatusReason1Code
- RR04 in ExternalClaimNonReceiptRejection1Code
- RR04 in ExternalCreditorEnrolmentAmendmentReason1Code
- RR04 in ExternalCreditorEnrolmentCancellationReason1Code
- RR04 in ExternalCreditorEnrolmentStatusReason1Code
- RR04 in ExternalDebtorActivationAmendmentReason1Code
- RR04 in ExternalDebtorActivationCancellationReason1Code
- RR04 in ExternalDebtorActivationStatusReason1Code
RR04 questions
- What does RR04 mean in ISO 20022?
- RR04 is Regulatory Reason in the ExternalReturnReason1Code code set: Regulatory Reason
- What should I do when I get RR04?
- Do not resend or split the payment to get around the decision. Involve your compliance team and ask your bank what information it needs. Keep a record of the case.
- Where does RR04 appear in a message?
- For example in pacs.004, element TxInf/RtrRsnInf/Rsn/Cd.
All ExternalReturnReason1Code codes · ISO 20022 code sets
The ISO 20022 code names and definitions on this page are reproduced from material published at iso20022.org under the ISO 20022 Intellectual Property Rights policy. This is not the official source: the up-to-date ISO 20022 standards and repository material are published only at iso20022.org. Explanations in our own words are by ZagTrader. ZagTrader is not affiliated with or endorsed by ISO or Swift.