38 CFR § 13.200 - Fiduciary accounts.

---
identifier: "/us/cfr/t38/s13.200"
source: "ecfr"
legal_status: "authoritative_unofficial"
title: "38 CFR § 13.200 - Fiduciary accounts."
title_number: 38
title_name: "Pensions, Bonuses, and Veterans' Relief"
section_number: "13.200"
section_name: "Fiduciary accounts."
chapter_name: "DEPARTMENT OF VETERANS AFFAIRS"
part_number: "13"
part_name: "FIDUCIARY ACTIVITIES"
positive_law: false
currency: "2026-03-24"
last_updated: "2026-03-24"
format_version: "1.1.0"
generator: "[email protected]"
authority: "38 U.S.C. 501, 5502, 5506-5510, 6101, 6106-6108, and as noted in specific sections."
regulatory_source: "83 FR 32738, July 13, 2018, unless otherwise noted."
cfr_part: "13"
---


# 13.200 Fiduciary accounts.

Except as prescribed in paragraph (b) of this section, any fiduciary appointed by VA to receive payments on behalf of a beneficiary must deposit the beneficiary's VA benefits in a fiduciary account that meets the requirements prescribed in paragraph (a) of this section.

(a) *Separate accounts.* Except as prescribed in paragraph (b) of this section, a fiduciary must establish and maintain a separate financial institution account for each VA beneficiary that the fiduciary serves. The fiduciary must not commingle a beneficiary's funds with the fiduciary's funds or any other beneficiary's funds, either upon or after receipt. The account must be:

(1) Established for direct deposit of VA benefits,

(2) Established in a Federally-insured financial institution, and in Federally-insured accounts when funds qualify for such deposit insurance, and

(3) Titled in the beneficiary's and fiduciary's names and note the existence of the fiduciary relationship.

(b) *Exceptions.* The general rule prescribed in paragraph (a) of this section regarding establishment and maintenance of separate accounts does not apply to the following fiduciaries:

(1) The beneficiary's spouse;

(2) State or local Government entities;

(3) Institutions, such as public or private medical care facilities, nursing homes, or other residential care facilities, when an annual accounting is not required. *See* § 13.280 regarding accounting requirements; or

(4) A trust company or a bank with trust powers organized under the laws of the United States or a state.

(Authority: U.S.C. 501, 5502, 5509, 5711)