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OFCA010040 – Corporate Action Proceeds Type
Defines the technical method of the value transfer to the investor. This field is the operational "instruction" for the record and determines whether a cash booking, security allocation, or purely a tax reporting entry is required.
This field can only be populated for financial events (primarily distributions and liquidations), as it identifies the final outcome of a corporate action option. If an event has multiple tax components, each component record must share the same value in OFCA010040 "Corporate Actions Proceeds Type" to ensure they are grouped correctly for the final payment or allocation.
The most commenly used ones for funds are: - "ACCU" (Accumulation): The income, e.g. for accumulating share classes, that accrues during an accounting period is retained within the fund instead of being paid away to investors. The retained income is nonetheless deemed to have been distributed to investors for tax purposes. - "DRIP" (Dividend Reinvestment): Dividend payment where a cash dividend is rolled over into additional shares in the issuing company. - "DVCA" (Cash Dividend): Distribution of cash to shareholders, in proportion to their equity holding. Ordinary dividends are recurring and regular. Shareholders must take cash and may be offered a choice of currencies. - "DVSC" (Scrip Dividend/Payment): Dividend or interest paid in the form of scrip. - "DVSE" (Stock Dividend): Dividend paid to shareholders in the form of equities of the issuing corporation. - "LIQU" (Liquidation Dividend/Liquidation Payment): A distribution of cash, assets or both. Debt may be paid in order of priority based on preferred claims to assets specified by the security.
The use case of a "DVOP" (Divendend Option) is covered by openfunds with the fields OFCA000310 "Corporate Action Type" = "Distribution" and OFCA000315 "Indicator of Mandatory or Voluntary Corporate Action" = "Mandatory with Options" or "Voluntary", therefore, it is not recommended using "DVOP" as a value for this field.
The definition of the corporate action proceed types is available here: https://www.iso20022.org/15022/uhb/mt538-46-field-22f.htm
Populate this field only if the corporate action is a financial event and OFCA000310 "Corporate Action Type" equals "Distribution", "Merger", "Split", "Liquidation" or "Tender Offer". Leave blank in all other cases.
| Property | Value |
|---|---|
| OF-ID | OFCA010040 |
| Name | Corporate Action Proceeds Type |
| Area | Corporate actions |
| Level | Others |
| Format | Text |
| Tags | Corporate actions reporting |
| Introduced in | openfunds 2.13 |
Values
One of the codes from the [List] of corporate action proceed types as per ISO20022, e.g. "ACCU"/ "DRIP"/ "DVCA"/ "DVSC" / DVSE" / "LIQU"
Example
`DRIP
OFCA000001 - OFCA99999 Corporate Actions reporting data`
FundsXML 4 mapping
FundsXML 4.2.11 has no element for this field. The converter keeps the value as CustomAttributes/Attribute named OF_OFCA010040 on the share class (or position), so FundsXML → openfunds restores it unchanged.
The field mapping table lists every field; openfunds to FundsXML explains the rules behind it.
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