Yes, I have heard of several people who had such codes, never received a letter, but the refund was issued.
In other cases, an IRS letter is sent and the taxpayer has to provide more information.
Due to the PATH Act, returns that contain Earned Income Credit and Child Tax Credit are routinely "examined" and the refund is placed in suspense for a few days or weeks. In most cases, the whole process takes a few days.
Please don't worry too much about it. If you do get a letter, people are here to help you with that.
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