Verification 101 PowerPoint Presentation, PPT - DocSlides

Verification 101 PowerPoint Presentation, PPT - DocSlides

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Michelle Jackson. Director of Financial Aid. Slippery Rock University. Agenda. 2014-15 Verification. Verification Items. Acceptable Documentation. Reminders for Verification Processing. 2015-16 Verification. ID: 283366

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Presentations text content in Verification 101

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Verification 101

Michelle JacksonDirector of Financial AidSlippery Rock University

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Agenda

2014-15 VerificationVerification ItemsAcceptable DocumentationReminders for Verification Processing2015-16 Verification

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2014-15 Verification

Federal Register Notice, published June 13, 2013, Free Application for Federal Student Aid (FAFSA) Information To Be Verified for the 2014-2015 Award YearDear Colleague Letter GEN-13-16, Published June 13, 2013, 2014-15 Award Year: FAFSA Information to be Verified and Acceptable Documentation

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2014-15 Verification Tracking Groups

Verification Tracking FlagVerification Tracking GroupVerification DescriptionV1Standard VerificationRecord selected because conditions based on statistical analysis error-prone risk model were metV2Reserved for FSA Use OnlyN/AV3Child Support Paid VerificationRecord selected for Child Support Paid criteria onlyV4Custom Verification GroupRecord selected for Identity criteria and SNAP/Child Support Paid V5Aggregate Verification GroupRecord selected for Identity criteria, “Standard Verification” criteria and SNAP/Child Support PaidV6Household Resources Verification GroupRecord selected for Other untaxed income, “Standard Verification” and SNAP/Child Support Paid

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ISIR Verification Flags

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V1 – Standard Verification (Tax Filers)

Adjusted Gross IncomeU.S. Taxes PaidUntaxed IRA DistributionsUntaxed PensionsEducation CreditsIRA Deductions and PaymentsTax-Exempt Interest Income

Household SizeNumber in CollegeChild Support Paid*SNAP (Food Stamps)**If reported on FAFSA

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V1 – Standard Verification (Non-Tax Filers)

Household SizeNumber in CollegeChild Support Paid*SNAP (Food Stamps)**If reported on FAFSA

Income Earned from Work

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V3 – Child Support Paid

Child support paid by:The student (or spouse)The student’s parent(s)

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V4 – Custom Verification

Child Support Paid*SNAP (Food Stamps)*High School Completion StatusIdentity/Statement of Educational Purpose*If reported on FAFSA

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V5 – Aggregate Verification

All items in V1 (Standard Verification Group)Tax FilerNon-Tax FilerANDHigh School Completion StatusIdentity/Statement of Educational Purpose

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V6 – Household Resources

All items in V1 (Standard Verification Group)Tax FilerNon-Tax FilerANDOther Untaxed IncomePayments to tax-deferred pension and savings plansChild support receivedHousing, food and other living allowancesVeterans non-education benefitsAdditional untaxed incomeMoney received or paid on student's behalf

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Acceptable Documentation

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2014-15 Verification

ED did not publish verification worksheetsSuggested text provided in IFAP Electronic Announcement posted November 8, 2013Must use exact language from Department for Statement of Educational Purpose

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Household Size

Signed statement from the applicant (and one parent, if the applicant is dependent) listing the following for each household member:NameAge Relationship to the applicantA dependent student’s legal parents who live together, regardless of marital status or gender, are required to provide information on the FAFSA and for verification.

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Household Size

Not required when:Dependent student lists 2, and parent is single, divorced, separated or widowedDependent student lists 3, and parents are married or unmarried and living togetherIndependent student lists 1, and student is single, divorced, separated or widowedIndependent student lists 2, and student is married

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Number in College

Signed statement from the applicant (and one parent, if the applicant is dependent) listing the following for each household member attending a Title IV-eligible school at least half-time during the 2014-15 award year :Name Age Name(s) of the applicable school(s)Not required when number in college is 1

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Tax Filers

Information obtained through IRS data retrieval IRS Request Flag value: 02ORTax Return Transcript (obtained from IRS)Record of Account Transcript (obtained from IRS)

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2014-15 IRS Request Flags

CodeDescriptionBlankIRS Data Retrieval Tool not available in the application method utilized by the student (for example, paper FAFSA, EDE, or FAA Access to CPS Online).00Not eligible to use the IRS Data Retrieval Tool and was therefore not presented with the option to use it in FAFSA on the Web.01Presented with the option to use the IRS Data Retrieval Tool in FAFSA on the Web and elected to use it, but did not transfer IRS data into the FAFSA.02IRS data was transferred from the IRS and was not changed by the user prior to submission of an application or correction.03IRS data was transferred from the IRS and changed by the user prior to submission of an application or correction.04IRS data was transferred from the IRS and then changed by the user on a subsequent transaction.05Presented with the option to use the IRS Data Retrieval Tool in FAFSA on the Web, but did not elect to use it.06IRS data was transferred from the IRS, but a subsequent change made the student or parent ineligible to use the IRS Data Retrieval Tool.

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IRS Request Flags

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When IRS Data Retrieval CANNOT Be Used

Married independent student and spouse filed separate tax returnsMarried parents of dependent student filed separate tax returnsWhen dependent student’s parents are unmarried and living togetherWhen student or parent had a marital status change after 12/31/13When student, spouse, or parent filed an amended tax return – 1040X

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Get IRS Tax Transcript Online

Go to www.irs.gov/transcript

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Get IRS Tax Transcript Online

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Get IRS Tax Transcript Online

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Get IRS Tax Transcript Online

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Income Earned From Work (Non-Tax Filers)

Copy of a W-2 Form for each source of employment income received in 2013If the applicant is unable to obtain the required W-2 Form(s) in a timely manner, the school instead may accept a signed statement listing:Source of incomeAmount of income earned from workReason the W-2 Form(s) is not available

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No Income Earned From Work

Signed statement certifying the applicant has not filed and is not required to file taxes for 2013If an institution questions a claim that the tax filer is not required to file, must require applicant to submit a Verification of Nonfiling Obtained by the tax filer using IRS Form 4506-T and checking box 7 Verification of Nonfiling for 2013 tax year should not be accepted if dated prior to June 15, 2014

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Child Support Paid

Signed statement from applicant or parent listing:Name of the individual who paid the supportName of the child support recipientName(s) of the child or children for whom support was paidAmount of support paid during the calendar yearIf the school believes information provided is inaccurate, it must obtain documentation such as a copy of a separation agreement/divorce decree showing the amount to be paid, a statement from the child support recipient showing the amount paid, or copies of cancelled checks, money order receipts or electronic payment records.

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SNAP (Food Stamps)

Signed statement from the applicant (or parent, if the applicant is dependent) certifying that the applicant or another household member received Food Stamps in calendar year 2012 and/or 2013.If the school believes information provided on the signed statement is inaccurate, the applicant must provide the school with documentation from the applicable Food Stamp issuing agency.

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High School Completion Status

High school diplomaCopy of high school diplomaCopy of final official high school transcript that shows the date when the diploma was awarded“Secondary school leaving certificate” (or another similar document) for students who completed secondary education in a foreign country and are unable to obtain a copy of their diploma or official transcript

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High School Completion Status

Recognized equivalentGEDState certificate recognized as an equivalent to a diploma.Academic transcript showing successful completion of at least a two-year program fully acceptable toward a bachelor’s degree.Documentation that the student excelled in high school (in accordance with the postsecondary institution’s written policies), if the student did not complete high school and enrolls in at least an associate degree program.

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High School Completion Status

Home school credentialTranscript signed by the parent or guardian documenting the successful completion of secondary education, listing the courses completed by the student, or a state-issued home school certification credential

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Identity Statement of Educational Purpose

An applicant must provide the following to the school in person:Government-issued photo identification, such as a driver’s license or passport.Signed statement of educational purpose for the 2014-2015 award year.For documentation presented in person, the school must maintain an annotated copy of the ID provided by the applicant, including the following information:Date the identifying document was received. Name of the institutionally authorized individual who received the documentation.

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Identity Statement of Educational Purpose

If an institution determines that an applicant is unable to provide the information in person, the applicant must provide to the school:Original notarized statement of educational purpose signed by the applicant for the 2014-2015 award year.Copy of a government-issued photo identification, such as a driver’s license or passport, that is referenced in the notarized statement.

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Other Untaxed Income

Signed statement from the applicant (and one parent, if the applicant is dependent) listing the sources of other untaxed income on the 2014-2015 FAFSA:Payments to tax-deferred pension and savings plansChild support receivedHousing, food and other living allowances paid to members of the military, clergy and othersVeterans non-education benefitsOther untaxed incomeMoney received or paid on the student’s behalf

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Reminders

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Verification & Professional Judgment

If a student was selected for verification (by school or the Department), you must complete verification before exercising professional judgment. If a student was not selected for verification, not required to complete verification before exercising professional judgment.

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Verification Exclusions

No verification required if:Student diesStudent receives no Title-IV aidStudent eligible for unsubsidized aidTransfer student who completed verification at previous school and current school can obtain certification with ISIR transaction number from previous school

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Verification Exclusions

Verification of parental information not requiredParents cannot be reached by normal means of communicationBoth parents are mentally incapacitatedVerification of student’s spouse’s information is not required Spouse is deceasedSpouse is mentally incapacitatedSpouse cannot be reached by normal means of communication

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IRA Rollovers

School must collect:Written statement from tax filer indicating the amount of the distribution that was excluded because it was an IRS authorized rolloverORSigned and dated notation indicating “ROLLOVER” on IRS Tax Return Transcript

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Amended Tax Return

An individual who filed an amended return must submit:An IRS Tax Return Transcript, IRS Record of Account Transcript, or a Return Transcript for Taxpayer (Program Integrity Q&A DOC-Q10) ANDSigned copy of the Amended 1040X that was filed with the IRS

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Identity Theft

A tax filer who is unable to request an IRS Tax Return Transcript because of IRS identity theft, calls a special IRS group at 1-800-908-4490 Upon verification of identity, the tax filer can request a paper copy of an alternative document unique to identity theft issues (Tax Return Data Base View - TRDBV) The TRDBV is an official transcript that can be submitted to the school to meet verification requirements DCL – GEN-14-05

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Reporting V4 and V5 Tracking Results

Beginning with the 2014-15 award year, aid administrators will be required to report Identity Verification Results for an applicant assigned to either the V4 or V5 Verification Tracking Group.Who To ReportStudent for whom school received an ISIR with a Verification Tracking Group of V4 or V5 AND for whom school requested verification documentation DO NOT include students the school selected for verification of identity or high school completion statusWhen To ReportMust be submitted no later than 60 days after the date the institution requested that the applicant provide the required documentation

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FAA Access Updates

Select Identity Verification Results

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FAA Access Updates

FAAs will be able to manually enter SSNs/Name ID/ Verification Results from a dropdown menu on this page.

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FAA Access Updates

Dropdown options will beVerification completed in person, no issues foundVerification completed remotely, no issues foundVerification attempted, issues found with identityVerification attempted, issues found with HS completionNo response from applicant or unable to locate

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FAA Access Updates

FAAs will be able to select the option to upload a flat file to report required results

Select

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FAA Access Updates

Select file from database by browsing

2014-2015

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FAA Access Updates

FAA will receive a confirmation page with the results submitted that can be printed.

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2015-16 Verification

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2015-16 Verification

The only constant in financial aid is change…

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2015-16 Verification

…except this time!

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2015-16 Verification

There are NO CHANGES to theverification groups for 2015-16!!!

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2015-16 Verification Tracking Groups

Verification Tracking FlagVerification Tracking GroupVerification DescriptionV1Standard VerificationRecord selected because conditions based on statistical analysis error-prone risk model were metV2Reserved for FSA Use OnlyN/AV3Child Support Paid VerificationRecord selected for Child Support Paid criteria onlyV4Custom Verification GroupRecord selected for Identity criteria and SNAP/Child Support Paid V5Aggregate Verification GroupRecord selected for Identity criteria, “Standard Verification” criteria and SNAP/Child Support PaidV6Household Resources Verification GroupRecord selected for Other untaxed income, “Standard Verification” and SNAP/Child Support Paid

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2015-16 Verification

ED will not publish verification worksheetsSuggested text will be provided on the IFAP website once releasedAgain, must use exact language from Department for Statement of Educational PurposeDCL – GEN-14-11

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2015-16 Verification

Clarifications from the Department of Education regarding acceptable documentation for 2015-16Obtaining a Duplicate IRS Form W-2 In instances where an applicant or parent is required to provide copies of IRS Form W-2, and the applicant or parent did not save their copy, the applicant or parent should request a replacement copy from the employer who issued the original W-2.

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2015-16 Verification

Other Untaxed Income and W-2sTax FilersAll applicants in the V6 tracking group must provide copies W-2’s for each source of employment in 2014. The IRS Form W-2 is used to verify whether there was any such income that should have been reported on the FAFSA or if it was reported correctly. Nontax FilersIf an institution questions if an applicant or parent has not, will not, and is not required to file a 2014 IRS income tax return, the institution must require the applicant to submit a “Verification of Nonfiling Letter” from the IRS indicating that the tax filer did not file a 2014 IRS income tax return.Must be dated on or after June 15, 2015

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2014-15 Verification Resources

Federal Register Notice, published June 13, 2013http://ifap.ed.gov/fregisters/FR061313FAFSAInformationToBeVerifiedforthe20142015AwardYear.html Dear Colleague Letter GEN-13-12http://www.ifap.ed.gov/dpcletters/GEN1312.html Dear Colleague Letter GEN-13-16http://ifap.ed.gov/dpcletters/GEN1316.html Dear Colleague Letter GEN-14-05http://ifap.ed.gov/dpcletters/GEN1405.html

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2014-15 Verification Resources

2014-15 Verification Suggested Texthttp://ifap.ed.gov/eannouncements/110813VerificationSuggestedText1415EA.htmlReporting Verification Results Using FAA Access to CPS Onlinehttp://ifap.ed.gov/eannouncements/111313FSAOIGEAIdentityVerificationResults.html2014-15 Application and Verification Guidehttp://ifap.ed.gov/fsahandbook/attachments/1314AVG.pdf

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2015-16 Verification Resources

Federal Register Notice, published June 25, 2014http://ifap.ed.gov/fregisters/FR062514.html Dear Colleague Letter GEN-14-11http://ifap.ed.gov/dpcletters/GEN1411.html

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PASFAA Resource Share Site

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QUESTIONS?

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