TN 5 (03-12)

SI 00604.074 Liquid Resources: Questions 43 and 44

A. Introduction

Question 43 collects information about cash and funds in financial institution accounts. Question 44 collects information about other liquid resources.

B. When and how to complete questions 43 and 44

Complete 43(a) for all claimants. A "YES" or "NO" response is required for each item. For each "YES" answer, complete 43(b) and ask if more than one similar asset exists. In the "Identifying Number" block enter the appropriate number, or write Unknown or N/A (not applicable).

Follow the same instructions for question 44.

1. Types of liquid resources

Explain to the claimant that the items in 43(a) and 44(a) are generic terms and not all-inclusive. Explore ownership in the items listed and any similar types of resources:

  1. Individual Retirement Accounts (IRA's);

  2. Keogh accounts;

  3. Savings certificates;

  4. Government securities (including Treasury bills, bonds and notes);

  5. Money market accounts;

  6. Vacation clubs; and

  7. Notes (including contracts to purchase real estate).

2. Cash on hand

  1. Accept the claimant's allegation of the amount of cash on hand.

  2. Do not include in resources any cash received during the month. Enter any such amount in Part IV (Income) of the form.

3. Financial accounts

  1. Explain that the claimant must report all accounts that show his or her name or spouse's name in any capacity.

  2. Explain that we will request permission from the claimant (and spouse) to contact financial institutions and that failure to give permission may result in ineligibility. For more information on failure to give permission to contact financial institutions, see SI 00515.001.

  3. Stress that the claimant must report joint accounts if the claimant, spouse, or parent(s) is a co-owner. For treatment of joint accounts, see SI 01140.205 Joint Checking and Savings Accounts and SI 00810.130 Income Derived from Joint Bank Accounts.

4. Assets for emergency use

Explain that the claimant must report items set aside for an emergency or set aside to provide for one's heirs.

5. Debts owed to claimant

Consider whether a claimant holds:

  • a loan agreement(s) as a result of a formal or informal loan to other persons (see SI 01120.220 for more information on cash loans) or

  • promissory notes or property agreements as explained in SI 01140.300.

C. References