How To Fix RTP216 - Error during payment between education IRA and IRA type &3 in plan &2

SAP Error Message - Details

• Message type: E = Error

• Message class: RTP - Message class for retirement plans (US enhancement)

• Message number: 216

• Message text: Error during payment between education IRA and IRA type &3 in plan &2

What causes this issue?

Recharacterization is allowed between edcuational IRA types only. In
this case amount is exchanged between Educational IRA type
&SYST-MSGV1& and IRA type &SYST-MSGV2&

System Response

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

How to fix this error?

Change the accounts involved in contribution or distribution for this
payment order for recharacterization so that all the accounts belong to
Educational IRA type '03'.

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 RTP216 - Error during payment between education IRA and IRA type &3 in plan &2 ?

  The SAP error message RTP216 typically occurs in the context of payment processing within the SAP system, particularly when dealing with educational institutions and their financial transactions. This error message indicates that there is an issue with the payment process between the education IRA (Individual Retirement Account) and the specified IRA type in the given plan.
  Cause of RTP216 Error
  
  Configuration Issues: The error may arise due to incorrect configuration settings in the SAP system related to the payment processing for educational IRAs.
  Data Inconsistencies: There may be inconsistencies or missing data in the master data related to the IRA types or the payment plans.
  Authorization Problems: The user may not have the necessary authorizations to perform the payment transaction.
  Incorrect Payment Method: The payment method used may not be compatible with the IRA type or plan specified.
  System Bugs: Occasionally, there may be bugs or issues in the SAP system that lead to this error.
  
  Solutions to RTP216 Error
  
  Check Configuration: Review the configuration settings for the payment processing related to educational IRAs. Ensure that all necessary parameters are correctly set up.
  Validate Master Data: Ensure that the master data for the IRA types and payment plans is complete and accurate. Check for any missing or incorrect entries.
  Review User Authorizations: Verify that the user attempting the transaction has the appropriate authorizations to process payments for the specified IRA type and plan.
  Examine Payment Method: Ensure that the payment method being used is valid for the IRA type and plan. If necessary, switch to a different payment method that is compatible.
  Consult SAP Notes: Check the SAP Support Portal for any relevant notes or patches that may address this specific error. Applying updates or patches may resolve underlying issues.
  Contact SAP Support: If the issue persists after trying the above solutions, consider reaching out to SAP Support for further assistance. Provide them with the error message details and any relevant transaction logs.
  
  Related Information
  
  Transaction Codes: Familiarize yourself with relevant transaction codes in SAP that pertain to payment processing and IRA management.
  Documentation: Review SAP documentation related to financial transactions, especially those specific to educational institutions and IRA management.
  User Forums: Engage with SAP user communities or forums where similar issues may have been discussed, and solutions shared.
  
  By following these steps, you should be able to diagnose and resolve the RTP216 error effectively.