Treasury goes thru a series of steps before taking funds from a bank. Some of those steps require the bank to respond to communication from Treasury. When the bank fails to meet deadlines for responding, Treasury assumes disinterest, and eventually scoops the funds. So the bank needs to defend its position before those deadlines pass.
Reclamation for Social Security (SS)
We received a reclamation for Social Security (SS) from a person who passed away 12/8/16. His SS went in on 1/3/17. His son came in and closed account on 1/4/17 and that's when we learned of his father's death. We received a reclamation in March of 2017 and we informed SS at that time of when we learned of the death, that the account was closed and we provided the name and address of the son who received all the funds. On 3/3/20 SS took the amount from us. Was it our responsibility to get the money back in 2017? Is it our responsibility to get the money back now? Where can I go to learn more about reclamations?
First published on 04/12/2020