Department of Human Services

Families First Online Policy Manual

Individual Development Account

Revised:

18.7

PROCEDURES

Table of Contents

 

         The caseworker will explain what an IDA is; how one can participate in an IDA group; and how it affects his/her resources.

 

         The caseworker will be expected to educate the recipient on the incentives and benefits of building savings.The caseworker will have a listing of all the non-profit organizations that offer an IDA program and descriptions of each program available so that the participant can select the one best suited to his/her needs. Some communities may have only one non-profit that offers IDAs. Some IDA programs will be geared towards a specific service population such as a neighborhood, age or gender grouping.Other IDA programs will focus on a specific IDA use, like small business development.In the event that all the programs available in a county have such specific population requirements that the participant is excluded from every program, the caseworker will inform the Department of Human Services county IDA contact of the situation.In turn, the Department of Human Services will notify TNCED and the DHS State Office of the circumstances of the person who is not able to open an IDA in the pilot program for service population reasons.

 

         The Referral Form for the IDA program is available to the participant at the Department of Human Services office.If a Families First participant is interested in opening an IDA, the IDA Referral Form should be completed (in triplicate) at the time of the visit.The Saver gives one copy to the non-profit sponsor and keeps another copy.The caseworker sends one copy of the form to TNCED at: ATTN: IDA, TNCED, P.O. Box 23353, Nashville, TN 37202-3353., (615) 395-4341.The caseworker logs in the referral on an IDA Program Log sheet.This referral information is then given to the IDA Contact in the county office to include in the centralized county IDA Program Log.

 

         The IDA contact will receive a Department of Human Services IDA Saver Notification Form, signaling that a participant is establishing an IDA.The form should be logged into the IDA Program Log, and the information shared with the individualís caseworker.The caseworker should then send the IDA Saver an IDA Information Letter that explains the DHS IDA Policy.

 

         The centralized county IDA Program Log should also be updated with information about account openings, account balance, withdrawals, and departures from the program.The caseworker fills in the new information on an IDA Program Log sheet and gives this information to the IDA Contact.

 

         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.If the withdrawal was for an unqualified purpose, the Saver should send a Department of Human Services-IDA Saver Unqualified Withdrawal Notification Form to the county IDA Contact.

 

         Questions about a specific IDA should be directed to the designated non-profit sponsor staff.Contact the county IDA contact person regarding any general IDA questions.

 

Desk Guide

   Family Assistance Standards

 

Glossary

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