Department of Human Services

Families First Online Policy Manual

Individual Development Account

Revised:

18.4

EXCEPTIONS

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If a participant chooses to leave the IDA group, he/she will sign the IDA Departure Form (available from the non-profit sponsor or the sponsoring PIC) indicating plans to use or not use their IDA match for a qualified purpose within two years from the used, the matching funds will be considered a resource (savings + match + interest)

 

If the individual does not plan to use the IDA match, the savings account is then considered a resource like any other savings account (savings + interest).

 

Glossary

 

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