Transferring undisbursed Income Management funds to the General Ledger Account 103-01050130

This document outlines the process for transferring undisbursed Income Management funds to the General Ledger Account, also known as the Official Public Account (OPA).

General Ledger Account

The General Ledger Account holds income managed funds which Services Australia has been unable to disburse to a customer. Reasons for not being able to issue income managed funds may include, but are not limited to:

• Customers not having a current bank account (for example a payment returned from a financial institution) or
• Deceased customers where the agency has not been able to locate their Legal Personal Representative (LPR) or appropriate person/s finalising the estate

Note: Funds must be disbursed within the 12 months of Income Management ending.

Disbursement of funds prior to transferring to the General Ledger Account

The agency will attempt to contact a customer to determine how funds should be disbursed before transferring funds to the General Ledger Account.

Although these funds no longer display in a customer's Income Management Account, a customer, or a deceased customer's LPR or appropriate person/s finalising an estate, can access these funds by lodging a Notice to prepare a Refund Account (SF030) form.

The Resources page contains links to the Income Management homepage, the Financial Delegations table, and the National Business Gateway (NBG), a link to the Notice to prepare a Refund Account (SF030) form and a sample SF030.

Related links

Residual funds after the death of an income managed customer

Processing a returned payment

Recall of Income Management funds

Income Management and BasicsCard Work Items