FAA4.A Financial Accounts (FIAC) : 03 Financial Accounts - Verification : A Financial Accounts - Required Verification
A Financial Accounts - Required Verification
Verification required for each financial account is as follows:
 
Current balance of checking and savings account
The budgetary unit's resource amount may be near or over the resource limit. When this occurs, determine the current balance, less any outstanding checks or debits to the account. Determine the current balance from the date of application or first of the month in question.
Financial account type and account number
Name of bank and address
Interest and dividends
 
Verify financial accounts for NA only when the information is questionable or inconsistent.
 
When verification has not been received by the processing deadline and the participant is continuing to cooperate, complete the case using the verification process.
 
When reviewing verification, compare past account information with current. Resolve any discrepancies. Use new information to explore for unreported sources of earned or unearned income. This includes, but is not limited to, the following:
 
Direct deposits
Where the participant cashes checks (e.g., a location near an AP's address; an unemployed participant cashing checks at an employee credit union, etc.)
Account activity
Account deposits versus reported income