![]() (See IIM Account Preferences and Change of Address.)Īn account may be restricted if there is a claim pending against the account, such as for child support if a current address is not on file (i.e., the beneficiary is on the Whereabouts Unknown list) or if the account holder is a minor. Most adults have unrestricted accounts in which funds are disbursed to the account holder whenever the account balance reaches $15 or more, unless the account holder requests otherwise or has direct deposit. There are three different types of IIM accounts: unrestricted, restricted and estate. However, if the account has a very low balance and does not have any activity for an 18 month period, the beneficiary will receive a statement only once a year. Funds listed on the account statement can also come from a per capita payment or from proceeds from an estate account following a probate.Īll IIM account funds are invested in government securities and earn interest until they are disbursed. IIM account statements are mailed to account holders on a quarterly basis along with a List of Real Property Assets. The IIM Statement of Account contains important information about an individual Indian account holder’s income and expenses from the use or sale of a trust asset such as agricultural or grazing leases, coal production, timber harvesting or oil and gas leases. ![]() Prior to the establishment of OST, IIM accounts were managed by the BIA. Individual Indian Monies (IIM) accounts are managed by the Office of the Special Trustee for American Indians (OST), which was established in 1994 as part of the American Indian Trust Fund Management Reform Act.
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