Direct Deposit of Social Security 

 Benefit Payments 



Table of Contents 



Section Subject Page 



1.0 INTRODUCTION 1 



1.1 Synopsis 1 



1.2 Background and Purpose 3 



2.0 PROBLEMS AND FINDINGS 9 



2.1 Providing Information to Beneficiaries 10 



2.2 Obtaining Information from Beneficiaries 12 



2.3 Creating Overpayment Situations 14 



2.4 Beneficiary Interest 16 



2.5 Costs 20 



2.6 Summary of Problems 21 



3.0 RECOMMENDATIONS 23 



4.0 SURVEY TECHNIQUES 29 



4.1 Power- of -Attorney Beneficiaries 29 



4.2 Other Beneficiaries 31 



4.3 Banks 33 



4.4 Other Financial Organizations 35 



5.0 EXHIBITS 37 



5.1 Bank Questionnaire and Related Material 38 



5.2 Power- of -Attorney Beneficiary Questionnaire 44 



5.3 Treasury Regulations 1076 for PL 92-366 51 



5.4 Synopsis of Credit Union Findings 65 



5.5 Synopsis of Savings and Loan Findings 66 



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