SPOTLIGHT ON Defended ACCOUNTS FOR CHILDREN -- 2022 Edition

Links to SSI Spotlights Domicile / Spotlight on Dedicated Accounts for Children

WHAT IS A Dedicated Account?

A defended account is a carve up financial establishment business relationship that the representative payee of a disabled child nether age eighteen is required to open up, when the child is eligible for large past-due payments (normally whatever payment covering more than 6 months at the current benefit rate).

The past–due payments will be deposited directly into that "defended account", and the utilise of these funds is restricted.

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WHAT ARE THE REQUIREMENTS FOR THE Account?

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    A defended account must be dissever from the business relationship used for the regular monthly do good payment and can only be a checking, savings, or money market business relationship.
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    Other funds, except for sure past–due Supplemental Security Income (SSI) benefits, cannot be commingled with the funds in the dedicated business relationship.
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    The account cannot be in the form of certificates of deposit, mutual funds, stocks, bonds, or trusts.
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    The championship must testify the child owns the funds, including interest.

HOW Can Yous Apply THE Money IN THE DEDICATED ACCOUNT?

You can use the money only for the following expenses:

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    medical treatment, instruction, or job skills training.

We too allow the following expenses, if they do good the kid and are related to the kid's impairment:

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    personal needs assistance (for example, in–dwelling nursing care);
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    special equipment;
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    housing modification;
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    therapy or rehabilitation; or
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    other items or services canonical by your local Social Security office, similar legal fees incurred by the child in establishing a claim for disabled kid's benefits.

You may non use these monies for bones monthly maintenance costs such every bit nutrient, clothing, or shelter. Yous must apply the regular monthly SSI benefit for the child'due south food, habiliment, or shelter.

If there are any questions on use of the funds, contact your local Social Security role.

HOW Volition SOCIAL SECURITY MONITOR THE DEDICATED ACCOUNT?

Each yr, we will crave the representative payee to complete a written report on the use of the defended account funds as well every bit the regular monthly benefits received on the kid's behalf.

Therefore, it is very important for the representative payee to continue receipts, bank statements, and maintain an expense record for at least 2 years as verification of expenditures. The representative payee should exist able to provide Social Security with an explanation of whatever expenditure and how it relates to the child'southward inability.

    NOTE If there is a change of representative payee and a dedicated account exists, the former representative payee must complete a concluding accounting of the funds and return the rest of the account to u.s.a.. Nosotros volition then transfer the funds to a new defended account opened by the new representative payee.

Furthermore, after the child turns 18 and fifty-fifty if he or she is his or her ain representative payee, the dedicated account provision notwithstanding applies to the existing account. Money can only be withdrawn in accordance with the dedicated account guidelines.

THIS INFORMATION IS GENERAL.
FOR More than INFORMATION, Phone call 1–800–772–1213 (TTY ane–800–325–0778),
VISIT OUR WEBSITE (world wide web.ssa.gov) ON THE Internet,
OR CONTACT YOUR LOCAL SOCIAL SECURITY Part.