Verification for Beginners Pam Ellis and Beth Rinderknecht

Verification Policies & Procedures Must verify applications selected by CPS School needs written policies & procedures Time period for submission of docs Consequences for late documents Method used to notify students of EFC/Title IV changes Procedure to correct FAFSA data

Verification Policies & Procedures Provide student with clear explanation of: – Their role – Documents needed – Deadlines they must meet – Consequences of failing to meet deadlines

What needs to be verified? AGI US income tax paid Education Credits Untaxed IRA distributions Untaxed pensions IRA deductions/payments Other untaxed income Income earned from work Household size Number in college SNAP benefits Child support paid HS completion status Identity/statement of educational purpose

Verification Tracking Groups V 1 – Standard Verification Group V3 – Child Support Paid (Eliminated for 16/17) V4 – Custom (HS completion/Identity/CS/SNAP) V5 – Aggregate (Standard + HS/Identity) V6 – Household Resources (Standard + Untaxed Income)

Documents Needed V1 – Tax Filers – IRS Data Retrieval – Tax Return Transcripts – Alternate documentation (amended returns) – Household size – Number in College – SNAP Benefits – Child Support Paid

Documents Needed V1 – Non-Tax Filers – Signed statement certifying Have not filed/not required to file a 2015 tax return Sources and amounts of income earned from work W-2 forms for each source of employment – Household size – Number in College – SNAP Benefits – Child Support Paid

Documents Needed V4 – Custom – High School completion status HS Diploma/Official transcript/GED – Identity/Statement of Educational Purpose Photo identification/signed statement of education purpose (must use ED form) – SNAP Benefits – Child Support Paid

Documents Needed V5 – Aggregate – HS Completion Status – Identity/Statement of Educational Purpose – V1 items for Tax Filer and Non-Tax Filer

Documents Needed V6 – Household Resources – V1 items for Tax-Filer/non-Tax Filer – Untaxed Income from FAFSA Payments to tax-deferred pensions Child support received Veterans non-education benefits Money received/paid on applicant’s behalf Housing/food/living allowances for clergy/military Any other untaxed income

IRS Data Retrieval Tool IRS Request Flag Blank - IRS Data Retrieval Tool (DRT) not available 00 - Student/Parent ineligible to use the IRS DRT 01 - Student/Parent was presented with the IRS DRT and elected to use it, but did not transfer IRS data into the FAFSA 02 - IRS data was transferred and was not changed 03 - IRS data was transferred and changed 04 - IRS data was transferred and then changed on a subsequent transaction 05 - Student/Parent was presented with the IRS DRT and elected not to use it 06 - IRS data was transferred, but a subsequent change made the student/parent ineligible to use the IRS DRT

Questions?