TN 5 (11-93)

GN 00608.048 Evaluation of SSA 7161-OCR-SM — Item 10-Manner in Which Funds are Held

A. POLICY

Benefits not required to meet the needs of the beneficiary must be conserved or invested for the beneficiary. See GN 00603.001 for more information about the conservation of benefits.

Conserved or invested funds must be held in a form of account which shows that the payee holds the benefits in trust for the beneficiary.

B. PROCEDURE

Resolve any indications that the payee is conserving funds for some vague, future purpose or to pay prior debts, or to reimburse himself/herself for the support of the beneficiary.

If funds are conserved in a bank account outside the United States and the account legend does not correspond to that preferred in the United States, check to determine if the account legend is listed in GN 00603.015. If it is not listed, request the FSP to determine if the bank treats the funds as belonging to the beneficiary and not the payee.


To Link to this section - Use this URL:
http://policy.ssa.gov/poms.nsf/lnx/0200608048
GN 00608.048 - Evaluation of SSA 7161-OCR-SM -- Item 10-Manner in Which Funds are Held - 01/29/1996
Batch run: 01/27/2009
Rev:01/29/1996