How To Fix 69306 - Premium reserve fund transfer is not required for your country variant

SAP Error Message - Details

• Message type: E = Error

• Message class: 69 - Central Functions of Financial Asset Management

• Message number: 306

• Message text: Premium reserve fund transfer is not required for your country variant

What causes this issue?

A premium reserve fund transfer is not required for this asset type for
the country variant you have entered in Customizing (additional company
code data for Treasury). For example, you can only call up the premium
reserve fund transfer function for all asset types for the country
variants 01 (Germany) and 02 (Austria).

The system issues an error message and will not allow you to continue with this transaction until the error is resolved.

System Response

How to fix this error?

Procedure for System Administrators

Error message extract from SAP system. Copyright SAP SE.

Smart SAP Assistant

• What is the cause and solution for SAP error message 69306 - Premium reserve fund transfer is not required for your country variant ?

  The SAP error message "69306 Premium reserve fund transfer is not required for your country variant" typically occurs in the context of insurance or financial modules within SAP, particularly when dealing with premium reserve fund transfers. This error indicates that the system has determined that a transfer of premium reserves is not necessary for the specified country variant.
  Cause:
  
  Country Variant Configuration: The country variant settings in your SAP system may not require premium reserve fund transfers. This could be due to regulatory requirements or business practices specific to that country.
  Master Data Settings: The master data for the insurance product or policy may not be configured to allow for premium reserve fund transfers.
  Business Rules: The business rules defined in the system may indicate that for certain types of policies or in certain scenarios, a transfer is not applicable.
  
  Solution:
  
  Check Country Variant Settings: Review the configuration settings for the country variant in your SAP system. Ensure that the settings align with the business requirements and regulatory framework for that country.
  Review Master Data: Check the master data for the relevant insurance products or policies. Ensure that they are set up correctly and that any necessary flags or indicators for premium reserve fund transfers are appropriately configured.
  Consult Documentation: Refer to SAP documentation or help resources specific to your version of SAP to understand the implications of this error message and any necessary configuration steps.
  Business Process Review: Engage with business stakeholders to confirm whether the premium reserve fund transfer is indeed required for the specific scenario. If it is required, adjustments may need to be made in the configuration or business rules.
  SAP Notes and Support: Check for any relevant SAP Notes that may address this error message. If the issue persists, consider reaching out to SAP support for further assistance.
  
  Related Information:
  
  SAP Modules: This error is often encountered in modules related to insurance (e.g., SAP FS-ICM, SAP FS-PM).
  Regulatory Compliance: Different countries have varying regulations regarding insurance and financial transactions, which can affect how premium reserves are managed.
  System Configuration: Understanding the configuration of your SAP system, including country-specific settings, is crucial for resolving such issues.
  
  By following these steps, you should be able to identify the root cause of the error and implement the necessary changes to resolve it.