When children under the age of 18 are eligible for Social Security or Supplemental Security Income (SSI) benefits, the Social Security Administration selects a representative payee to manage the funds on their behalf. As a representative payee, you are responsible for managing the beneficiary’s funds to pay for basic needs and living expenses. Any excess money should be saved for future use by the beneficiary, preferably in an interest-bearing account.
To make sure representative payees continue to use the benefits for the best interest of the designated beneficiaries, they are required to keep a detailed record of expenses which are reported on a form called the Representative Payee Accounting Report, which is mailed to the representative payee annually. This report can be completed and returned via mail to the address indicated on the form. Or, for payees who are at least 18 years old, the report can be submitted online at www.socialsecurity.gov/payee. Be prepared to complete a detailed log of all Social Security income received as well as all expenses that were paid for with the beneficiary’s funds, including food, housing, clothing, personal care, medical, dental services, recreational activities and any other miscellaneous expenses incurred by the beneficiary throughout the year.
Based in Virginia, Amanda Banach has been a writer since 2009. Her professional work experience includes roles in media advertising, financial services and human resources. She holds a Bachelor of Arts in human resources management and is PHR-certified.