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Sample Form - IIM Instructions for Disbursement of Funds and Change of Address 2

METHOD OF PAYMENT – IIM account holders have several options for how payment is received: direct deposit to a checking or savings account; using the OST debit card; or by check. While check is still the most common form of payment, OST encourages beneficiaries to sign up for direct deposit and have their funds transferred electronically to their bank or financial institution. With direct deposit, postings are automatic and account holders don’t have to wait for a check to come in the mail. In addition, if a beneficiary moves and fails to update his or her address with OST, there will not be a lapse in payment. Income will continue to be automatically deposited into the identified bank account. The OST debit card program is a new option for account holders who do not have their own bank account but would like to have access to their money right away. With this option, OST sets up a bank account for the beneficiary through Chase Bank, where the money is deposited. However, there are some fees associated with using the card, so beneficiaries are advised to consider this option carefully before selecting it.

MAILING ADDRESS – In order to receive payments and account information, account holders must notify OST if their address has changed. The U.S. Treasury will not forward checks to an address that has not been updated by the trust beneficiary.

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