EIV Update

In the April update of EIV’s online system, HUD Policy staffer Michael Sharkey noted that there are six areas that have been addressed:

1. The Java error we see relative to dual entitlement will be fixed.
2. When Coordinators reauthorize Users, they’ll just approve the UAAF.  The extra step of certifying the User for specific properties will be removed.
3. There will be more information provided for tenants who are active in TRACS but have no EIV data.  The Identity Verification Screen (Income Summary) will show a code 6,7 or 0 to indicate things like Verification in Process (identifiers were sent to SSA but they haven’t been verified yet) and other information.  So every tenant should either have an Income Report, show up on a No Income Report, or be Not Verified with a reason why not.
4. Printer Friendly option for Existing Tenant Search wasn’t working and will be fixed.
5. There’s an inconsistency relative to rounding on income (between pulling the Income Report from the tab in the tenant record, vs. pulling it from the Printer Friendly area in Income Reports).  This will be made consistent.
6. Deceased Tenant Report:  the month option has been removed, so it will always print for All Tenants.

In a March 30, 2012 email to industry trainers, Mr. Sharkey also clarified how to handle Required Minimum Distributions for elderly tenants:  “RMD withdrawals are to be included in annual income as required by 24 CFR 5.609(b)(4) even if taken annually (they are considered to be periodic withdrawals).  When this income is put into an asset account, the amount of the asset is to be calculated as usual for the appropriate certification.  The scenario is similar to a paycheck being deposited into a savings account; both are counted.”

Since the household has begun taking periodic withdrawals from this asset, the balance of the retirement account asset no longer counts.