Accumulated Funds Payable to Beneficiaries or Their Representative Payees
- Audit report number
- A-09-12-21236
- Full report
- /~assets/audits/full/a-09-12-21236_0.pdf
- Summary report
- /~assets/audits/summary/summary-21236.pdf
According to SSA policy, accumulated funds are benefits that (1) accrued before an initial award, (2) were withheld pending the selection of a representative payee, or (3) were conserved and returned to SSA by a former representative payee. If a beneficiary has no representative payee, SSA is required to pay all accumulated funds directly to the beneficiary unless the selection of a representative payee is pending, a capability determination is pending, or a beneficiary requested installment payments. If the accumulated funds total more than $4,000, SSA must evaluate certain representative payees’ ability to handle the benefits.
