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    I recently completed my intake session but confused on certain parts of my action plan. I am a W2 employee, but they are requesting 12 month bank statements on all my accounts with LOE’s for any non-payroll non-business deposits. I’m a little confused because they describe it as “Bank Statements for 1099 or Corporate Income”. I explained that I had student loan refunds, but not sure why that would trigger me submitting 12 months worth of bank statements.


    Hello formygirls,

    You can thank today’s stringent proof of income regulations. You can explain that you had student loan refunds, but especially since you referred to it in the plural, that’s going to raise a minor red flag. Recurring non-payroll deposits are especially going to have to be documented to comply with anti-money laundering regulations.. Twelve months of bank statements and a little supporting evidence regarding the nature of the deposits along with an LOE isn’t a major request, so you best bet is to just knock it out so you can keep moving forward.

    Tim Trumble
    Online Operations, NACA

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