GN 02402.045: Direct Deposit and Assignment of Benefits
Effective Dates: 01/08/2008 - Present TN 31 (01-08)
- GN 02402.045 Direct Deposit and Assignment of Benefits
A. Policy - General Section 207 of the Social Security Act specifically prohibits the assignment or transfer of the right to future Social Security payments. B. Policy - Request for Direct Deposit A request for direct deposit which assigns or transfers the right to future payments to someone other than the beneficiary, e.g., to a credit card company or an insurance company, will not be honored. Such a request constitutes an assignment of benefits. (See GN 02410.001 for a full discussion of assignment of benefits.) C. Procedure When a request for direct deposit is made which raises a question about possible assignment of benefits, take the following actions: * Get an SF-1199A, and * Verify that there is no assignment, and * Verify that the account title meets the requirements in GN 02402.050.
- If there is no assignment, then approve the request.
x← This means that the line was removed and was added – in other words, the "Effective Dates" line at the top of the document has been updated to reflect that the new version is effective as of the date the change was made.