Court Appointed Fiduciary's Account, Federal Fiduciary's Account, Account Book, Court Appointed Fiduciary's Account, Certificate of Balance on Deposit and Authorization to Disclose Financial Records

ICR 201905-2900-004

OMB: 2900-0017

Federal Form Document

ICR Details
2900-0017 201905-2900-004
Active 201602-2900-007
VA VBA-P&F-YA
Court Appointed Fiduciary's Account, Federal Fiduciary's Account, Account Book, Court Appointed Fiduciary's Account, Certificate of Balance on Deposit and Authorization to Disclose Financial Records
Reinstatement without change of a previously approved collection   No
Regular
Approved without change 12/19/2019
Retrieve Notice of Action (NOA) 09/06/2019
Approval is granted with the following terms of clearance: 1. Fiduciaries shall not be required to retain any records for more than 3 years unless there is a specific and non-discretionary statutory or regulatory requirement for longer retention and shall be notified by VA of their the timeline for retention; and prior to requesting extension or revision of this collection, the Program Office 2a. shall consult with the VA Privacy Office on whether the routine uses listed in the Privacy Act statement satisfy the requirements of 5 USC 552a(e)(3)(C), and 2b. Shall explore the possibility of reducing burden on fiduciaries and financial institutions, including through use of the periodic statements produced under 12 CFR 230.
  Inventory as of this Action Requested Previously Approved
12/31/2021 36 Months From Approved
33,500 0 0
11,167 0 0
0 0 0

VA maintains supervision of the distribution and use of VA benefits paid to fiduciaries on behalf of VA beneficiaries who are incompetent, a minor, or under legal disability. The forms are used to verify beneficiaries’ deposit remaining at a financial institution against a fiduciary’s accounting. The following forms will be used to ensure claimants’ benefits payments are administered properly. (a) VA Forms 21P-4706b and 4706c are used by VA to determine proper usage of benefits paid to fiduciaries. The 21P–4706c is provided to assist VA fiduciaries in conforming to requirements of various State courts. (b) VA Form 21P–4718a—Fiduciaries are required to obtain certifications that the balances remaining on deposit in financial institutions as shown on accountings are correct. Certifying official at a financial institution completing the form must affix the institution’s official seal or stamp. The data collected is used to confirm appointment of a fiduciary for a VA beneficiary and to prevent fiduciaries from supplying false certification, embezzling funds, and possibly prevent and/or identify fraud, waste and abuse of government funds paid to fiduciaries on behalf of VA beneficiaries. Without this information, VA would be unable to determine if the veteran's fiduciary is properly using the funds for this benefit according to VA law.

US Code: 38 USC 5502 Name of Law: Payments to and supervision of fiduciaries
   PL: Pub.L. 108 - 454 502-504 Name of Law: Veterans Benefits Improvement Act of 2004
  
None

Not associated with rulemaking

  84 FR 28395 06/18/2019
84 FR 47071 09/06/2019
No

  Total Approved Previously Approved Change Due to New Statute Change Due to Agency Discretion Change Due to Adjustment in Estimate Change Due to Potential Violation of the PRA
Annual Number of Responses 33,500 0 0 -1,500 0 35,000
Annual Time Burden (Hours) 11,167 0 0 -500 0 11,667
Annual Cost Burden (Dollars) 0 0 0 0 0 0
No
Yes
Miscellaneous Actions
Pension and Fiduciary Service changed fiduciary appointment types and therefore the population required to account decreased.

$587,471
No
    No
    Yes
No
No
No
Uncollected
Danny Green 202 421-1354 danny.green2@va.gov

  No

On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).
The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:
 
 
 
 
 
 
 
    (i) Why the information is being collected;
    (ii) Use of information;
    (iii) Burden estimate;
    (iv) Nature of response (voluntary, required for a benefit, or mandatory);
    (v) Nature and extent of confidentiality; and
    (vi) Need to display currently valid OMB control number;
 
 
 
If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.
09/06/2019


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