Generic Program Elements L. Trust and Agency Accounts

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Generic Program Elements

L. Trust & Agency Accounts

Effective 10/1/99

Note: A trust and agency account should only be used when absolutely necessary. Explore all other options before setting up a trust and agency account.

When to Use. Trust and agency (T & A) is a system for handling client funds when the Department is responsible for receiving and disbursing these funds. These accounts are set up when the Department is the client's representative payee for SSB, SSI, Veterans or other benefits.

Additionally, the Department may set up an account when any of the following is true:

There is no one available to assist the client and the client understands the need for the account.
The client is not able to manage their income or resources.
The account balance of a client's nursing facility personal incidental fund is more than $90.00.

Use the SDS 195 (Trust Agreement for Limited Accounts) to set up the account and the SDS 198 (Trust and Agency Action) for money maintenance or to transfer from one account to another. Contact DHS Accounting with any questions.

Note: Be sure the account does not exceed the resource limit by checking the TAA1 screen periodically.

461-185-0010

Authorization of T & A. The client, or their guardian or conservator, authorizes establishment of a T & A account on a form (SDS 195) prescribed by the Department.

Spouses must each sign the authorization form to have their funds administered in trust. Clients not able to sign their name may make a mark. Two people must witness the signing and give their addresses.

461-185-0020

Interest Paid on T&A Accounts. Interest earned from investment of T&A account monies will be put into the T&A accounts on a quarterly basis. Interest will be reported in accordance with IRS regulations on a Department form.

461-185-0030

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