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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 — 4706 B remember most fiduciaries won't need to complete that form now let's get into how to complete your accounting using VA form 21P — 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...