Individual Indian Money Account
An Individual Indian Money Account is an account established by the Bureau of Indian Affairs (BIA) to assist participants who cannot manage their financial affairs. BIA receives monies from various sources and disburses funds for the participant.
NOTE An account history from BIA is needed to determine whether the monies in the account are from a countable resource.
When the monies are from a source that is countable, key the monies on LIAS using the IM Liquid Assets Code.
When the monies are from a source that is not countable, key the monies on LIAS using the EI Liquid Assets Code.
|
|
When the Individual Indian Money Account is for a minor, it is an inaccessible trust account until the child reaches the age of 18. (See Trust Funds) |