CUTOVER2026 keyword
CUTOVER2026 is a literal keyword placed in <TwnNm> as a last-resort bridge for return messages and warehoused payments that straddle the 15 November 2026 cutover. Prohibited in newly initiated payments (PMPG Hybrid Postal Address v1.12 §0.311), it expires approximately three months post-cutover, after which Best-Effort Structuring is the only permitted handling.
How CUTOVER2026 keyword works in practice
The keyword is Tier 2 of the transitional regime: institutions must first attempt Best-Effort Structuring (§38) and may fall back to CUTOVER2026 (§39) only where <TwnNm> and <Ctry> cannot be reliably derived. Where <Ctry> is taken from the Creditor Agent BIC, a documented risk acknowledgment is mandatory (§40.1). It must never become standard market practice.
Source: PMPG Hybrid Postal Address v1.12 §7 / §39–§40, p42–45 (§0.310–§0.311 / p43); the ioNova Postal Address Specification v2.0 PART XIII, Appendix I Q3–Q5.
The bridging form — in-flight transactions only:
<!-- Last-resort bridge — in-flight transactions only --> <PstlAdr> <TwnNm>CUTOVER2026</TwnNm> <Ctry>NZ</Ctry> <!-- derived from Creditor Agent BIC, last resort --> <AdrLine>169 CUBA STREET, WELLINGTON 6011, NEW ZEALAND</AdrLine> </PstlAdr>
Parent reference: ISO 20022 deadline — the structured address mandate.
Sources
Standards & regulatory sources
- Hybrid Postal Address, Version 1.12 — Payments Market Practice Group (PMPG), 5 March 2026.
ioNova reference material
- ioNova ISO 20022 Postal Address — Requirements and Specifications v2.0, May 2026 — ioNova reference work consolidating the sources above. Request the specification in a demo.
See ioNova ARS in action
The complete ISO 20022 Postal Address — Requirements and Specifications Update 2026 consolidates the CPMI harmonisation requirements, the BIS PIE taskforce report, the PMPG Hybrid Postal Address whitepaper and the EPC address guidance into a single reference.
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