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How to prepare VA 21P-8416

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Video instructions and help with filling out and completing VA 21P-8416

Instructions and Help about VA 21P-8416

Hi there looks like you've got an accounting coming do this video is the second in a set of three videos which explain steps in completing your annual accounting this video will give you instructions on how to complete the income section of your accounting for more information on the other steps in the accounting process see our other videos before you begin your accounting which discusses the steps you should take to prepare for your accounting and how to complete your accounting part 2 which discusses how to complete the expenses section and finalize all accounting actions before we begin you should have gathered all bank statements and any other pertinent information also if required you should have a completed VA Form 21p — 47 18a remember most fiduciaries won't need to complete that form now let's get into how to complete your accounting using VA form 21 P — 4706 B federal fiduciaries account let's start with the basics first you'll need a pen I know that might sound silly but by law this accounting form cannot be completed in pencil if you're more comfortable using a computer electronic copies of this document can be found at the website here the web address is also located on your accounting request letter now let's get into the nuts and bolts let's look at the section called money received this will be where you document the money you've received from the VA on behalf of the beneficiary first let's talk total estate at beginning of period if this is your first accounting that's easy put even if you are informally handling the beneficiary's funds before you're appointed as fiduciary for VA purposes you began handling the VA funds under management on the day you're appointed if this is not your first accounting the beginning estate should match the ending estate from the previous accounting check the last accounting that was approved by VA and look at block size in the second column right above remarks your beginning balance should exactly match that number now let's take a look at income there's a couple sections here first amount received from VA when documenting VA income take a look at your bank statements and keep track of what was deposited by VA throughout the accounting period you'll enter the number of months and the amount for those months for example let's say the beneficiary received an increase in benefits halfway through the year in this case the beneficiary was receiving $2,000 per month from January through the end of June and $2,500 per month from July through December in the first line under number of months enter 6 and under monthly amount enter 2022 in the second line under number of months enter 6 and under monthly amount enter 2500 finally under the amount column enter the total for each six-month period so for the first line you'd enter $12,000 six months at $2,000 per month the amount received from.

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FAQ - VA 21P-8416

What is the purpose of VA 21P-8416?
To establish a clear and unequivocal legal standard for the disclosure of personal health information. What is the purpose of VA 21P-8417? To establish a clear and unequivocal legal standard for the disclosure of personal health information. How are personal health information disclosed under the new law? The law requires the VA, in the most limited circumstances, to share certain personal health information to an individual who has, or may have, a condition that would make them a qualified individual under VA 21P-8417. There are two ways to share health information under 21P-8417: When the VA decides that the disclosure of the health information would make the disclosure of the information a risk to the health or safety of the individual or someone in the future; or When, pursuant to VA 21P-8417(e), the VA determines it is in the best interest of a qualified individual under VA 21P-8417 to provide disclosures to the individual. Example. The Secretary of Veterans Affairs receives notification that a veteran is eligible to apply for disability benefits. As soon as the notification is received, the Secretary immediately issues a release allowing the veteran to obtain personal health information. Under the new law, this new type of use of the personal health information is limited. Information that is used either for a disclosure in these limited circumstances or as the basis of a decision under VA 21P-8417(e) may be disclosed only to individuals who do not have a “covered” health condition for purposes of the disclosure, only for a health care decision (i.e., in the context of a VA facility referral), only in the case of an insurance claim or claim under a state or federal law applicable to the individual, or only by the individual and his or her authorized legal representatives.
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