Department of Human Services

Families First Online Policy Manual

Individual Development Account

Revised:

18.5

VERIFICATION

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At each eligibility renewal, the participant must provide the quarterly statements from the bank and TNCED or the sponsoring PIC that detail the total amount (savings + match + interest) in the IDA.  Verification of attendance will come from the non-profit sponsor.  A participant who has left the IDA group must present the IDA Departure Form to the caseworker to determine whether or not the participant has retained the ability to use the matching funds.

 

In the event of a withdrawal, the participant must provide a receipt and/or other form of verification from TNCED or the sponsoring PIC to the caseworker to establish that the withdrawal was used for one of the IDA qualified purposes.  In addition, the State Office will receive a quarterly statement from TNCED for the IDA programs regarding the IDA activity for Families First Savers.  This information will be shared with each of the county offices.

 

Glossary

 

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