VA Form 21P-555

Income/Assets Reporting for Fiduciary Beneficiary

FiduciaryOfficial VA form on VA.gov

Who fills it

fiduciary

Journey phase

Keeping Your Award Current

Estimated time

20-40 minutes.

When to file

When requested by VA or when the fiduciary becomes aware of significant changes in the beneficiary's financial situation.

VA is conducting a review of a beneficiary under fiduciary supervision and has requested current income and asset information.

Gather before you start

—Current bank account balances for all accounts holding beneficiary funds

—Income statement (all sources: VA benefits, SSA, other)

—Any significant asset changes

Attach with the form

—Current bank statements

Section I - Beneficiary Identification

1 field

Blocks 1-3Beneficiary name, SSN, VA File NumberPII

The veteran or other beneficiary under fiduciary supervision.

Example

(veteran's name, SSN, VA file number)

Common mistakes

Entering fiduciary's information here instead of beneficiary's.

Section II - Current Monthly Income

1 field · 1 citation

Blocks 4-12All current income sources for the beneficiary

Report the beneficiary's current monthly income from all sources: VA compensation or pension, Social Security, SSI, any employment (sheltered workshop wages count), rental income, trust distributions. Report actual current monthly amounts.

Example

e.g., VA pension: $1,200/mo; SSA: $850/mo; No other income

Common mistakes

Reporting annual amounts when VA asks for monthly - provide monthly amounts.
Not reporting sheltered workshop wages - any compensation counts.

Authority

38 CFR 3.500 - When VA reduces or discontinues benefits.

Section III - Current Assets

1 field

Blocks 13-20All current balances for accounts holding beneficiary funds

List every account holding the beneficiary's money: checking (dedicated fiduciary account), savings, CDs, any investment accounts holding VA funds. Include the financial institution name, account type, and current balance. Exclude: primary home, vehicle, personal property.

Example

e.g., First National Bank Checking (fiduciary): $3,450; Savings: $8,200

Common mistakes

Not disclosing all accounts holding beneficiary funds - VA may audit.

Section IV - Fiduciary Certification

1 field

Blocks 21-22Fiduciary name, signature, and datePII

The fiduciary signs and dates, certifying accuracy. Include fiduciary's printed name and title.

Example

(fiduciary signature, printed name, title, date)

Common mistakes

Not including the fiduciary's title (guardian, conservator, power of attorney).

Statutory & regulatory authority

38 CFR 3.500 - When VA reduces or discontinues benefits.

VA Form 21P-555

Income/Assets Reporting for Fiduciary Beneficiary

FiduciaryOfficial VA form on VA.gov

Who fills it

fiduciary

Journey phase

Keeping Your Award Current

Estimated time

20-40 minutes.

When to file

When requested by VA or when the fiduciary becomes aware of significant changes in the beneficiary's financial situation.

VA is conducting a review of a beneficiary under fiduciary supervision and has requested current income and asset information.

Gather before you start

—Current bank account balances for all accounts holding beneficiary funds

—Income statement (all sources: VA benefits, SSA, other)

—Any significant asset changes

Attach with the form

—Current bank statements

Section I - Beneficiary Identification

1 field

Blocks 1-3Beneficiary name, SSN, VA File NumberPII

The veteran or other beneficiary under fiduciary supervision.

Example

(veteran's name, SSN, VA file number)

Common mistakes

Entering fiduciary's information here instead of beneficiary's.

Section II - Current Monthly Income

1 field · 1 citation

Blocks 4-12All current income sources for the beneficiary

Example

e.g., VA pension: $1,200/mo; SSA: $850/mo; No other income

Common mistakes

Reporting annual amounts when VA asks for monthly - provide monthly amounts.
Not reporting sheltered workshop wages - any compensation counts.

Authority

38 CFR 3.500 - When VA reduces or discontinues benefits.

Section III - Current Assets

1 field

Blocks 13-20All current balances for accounts holding beneficiary funds

Example

e.g., First National Bank Checking (fiduciary): $3,450; Savings: $8,200

Common mistakes

Not disclosing all accounts holding beneficiary funds - VA may audit.

Section IV - Fiduciary Certification

1 field

Blocks 21-22Fiduciary name, signature, and datePII

The fiduciary signs and dates, certifying accuracy. Include fiduciary's printed name and title.

Example

(fiduciary signature, printed name, title, date)

Common mistakes

Not including the fiduciary's title (guardian, conservator, power of attorney).

Statutory & regulatory authority

38 CFR 3.500 - When VA reduces or discontinues benefits.

VA Form 21P-555

Income/Assets Reporting for Fiduciary Beneficiary

FiduciaryOfficial VA form on VA.gov

Who fills it

fiduciary

Journey phase

Keeping Your Award Current

Estimated time

20-40 minutes.

When to file

When requested by VA or when the fiduciary becomes aware of significant changes in the beneficiary's financial situation.

VA is conducting a review of a beneficiary under fiduciary supervision and has requested current income and asset information.

Gather before you start

—Current bank account balances for all accounts holding beneficiary funds

—Income statement (all sources: VA benefits, SSA, other)

—Any significant asset changes

Attach with the form

—Current bank statements

Section I - Beneficiary Identification

1 field

Blocks 1-3Beneficiary name, SSN, VA File NumberPII

The veteran or other beneficiary under fiduciary supervision.

Example

(veteran's name, SSN, VA file number)

Common mistakes

Entering fiduciary's information here instead of beneficiary's.

Section II - Current Monthly Income

1 field · 1 citation

Blocks 4-12All current income sources for the beneficiary

Example

e.g., VA pension: $1,200/mo; SSA: $850/mo; No other income

Common mistakes

Reporting annual amounts when VA asks for monthly - provide monthly amounts.
Not reporting sheltered workshop wages - any compensation counts.

Authority

38 CFR 3.500 - When VA reduces or discontinues benefits.

Section III - Current Assets

1 field

Blocks 13-20All current balances for accounts holding beneficiary funds

Example

e.g., First National Bank Checking (fiduciary): $3,450; Savings: $8,200

Common mistakes

Not disclosing all accounts holding beneficiary funds - VA may audit.

Section IV - Fiduciary Certification

1 field

Blocks 21-22Fiduciary name, signature, and datePII

The fiduciary signs and dates, certifying accuracy. Include fiduciary's printed name and title.

Example

(fiduciary signature, printed name, title, date)

Common mistakes

Not including the fiduciary's title (guardian, conservator, power of attorney).

Statutory & regulatory authority

38 CFR 3.500 - When VA reduces or discontinues benefits.

VA Form 21P-555

Income/Assets Reporting for Fiduciary Beneficiary

FiduciaryOfficial VA form on VA.gov

Who fills it

fiduciary

Journey phase

Keeping Your Award Current

Estimated time

20-40 minutes.

When to file

When requested by VA or when the fiduciary becomes aware of significant changes in the beneficiary's financial situation.

VA is conducting a review of a beneficiary under fiduciary supervision and has requested current income and asset information.

Gather before you start

—Current bank account balances for all accounts holding beneficiary funds

—Income statement (all sources: VA benefits, SSA, other)

—Any significant asset changes

Attach with the form

—Current bank statements

Section I - Beneficiary Identification

1 field

Blocks 1-3Beneficiary name, SSN, VA File NumberPII

The veteran or other beneficiary under fiduciary supervision.

Example

(veteran's name, SSN, VA file number)

Common mistakes

Entering fiduciary's information here instead of beneficiary's.

Section II - Current Monthly Income

1 field · 1 citation

Blocks 4-12All current income sources for the beneficiary

Example

e.g., VA pension: $1,200/mo; SSA: $850/mo; No other income

Common mistakes

Reporting annual amounts when VA asks for monthly - provide monthly amounts.
Not reporting sheltered workshop wages - any compensation counts.

Authority

38 CFR 3.500 - When VA reduces or discontinues benefits.

Section III - Current Assets

1 field

Blocks 13-20All current balances for accounts holding beneficiary funds

Example

e.g., First National Bank Checking (fiduciary): $3,450; Savings: $8,200

Common mistakes

Not disclosing all accounts holding beneficiary funds - VA may audit.

Section IV - Fiduciary Certification

1 field

Blocks 21-22Fiduciary name, signature, and datePII

The fiduciary signs and dates, certifying accuracy. Include fiduciary's printed name and title.

Example

(fiduciary signature, printed name, title, date)

Common mistakes

Not including the fiduciary's title (guardian, conservator, power of attorney).

Statutory & regulatory authority

38 CFR 3.500 - When VA reduces or discontinues benefits.