Unless Point Blank has kept his $43,000 in a non-interest bearing checking account, there is a paper trail of the interest that the account paid in 2009 and in 2010. Called a form 1099. It will be reported to the IRS. The IRS turns all that data to SSA for people who are on SSI. SSI applicants agree to this when they apply. If they refuse, their SSI claim will be denied. SSI applicants also agree that SSA can check any bank they want to look for unreported assets. If they disagree, their claims can be denied. The discovery of the closed bank accounts is often done months after benefits begin and every penny of SSI paid can be considered an overpayment, the case can be referred to OIG for a fraud investigation and future SSDI benefits or federal tax refunds can be withheld to repay the overpayment.

Probably not the best plan.

We are closing this thread for review.