This text of Indiana § 6-8.1-8-8.7 (Data match system; financial institutions) is published on Counsel Stack Legal Research, covering Indiana primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
7.
(a)The department shall operate a data
match system with each financial institution doing business in Indiana.
(b)Each financial institution doing business in Indiana shall provide
information to the department on all individuals:
(1)who hold one (1) or more accounts with the financial
institution; and
(2)upon whom a levy may be issued by the department or a
county treasurer.
(c)To provide the information required under subsection (b), a
financial institution shall do one (1) of the following:
(1)Identify individuals by comparing records maintained by the
financial institution with records provided by the department by:
(B)either:
(i)Social Security number; or
(ii)tax identification number.
(2)Comply with IC 31-25-4-31(c)(2). The child support bureau
established
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7. (a) The department shall operate a data
match system with each financial institution doing business in Indiana.
(b) Each financial institution doing business in Indiana shall provide
information to the department on all individuals:
(1) who hold one (1) or more accounts with the financial
institution; and
(2) upon whom a levy may be issued by the department or a
county treasurer.
(c) To provide the information required under subsection (b), a
financial institution shall do one (1) of the following:
(1) Identify individuals by comparing records maintained by the
financial institution with records provided by the department by:
(A) name; and
(B) either:
(i) Social Security number; or
(ii) tax identification number.
(2) Comply with IC 31-25-4-31(c)(2). The child support bureau
established by IC 31-25-3-1 shall regularly make reports
submitted under IC 31-25-4-31(c)(2) accessible to the department
or its agents for use only in tax judgment and levy administration.
(d) The information required under subsection (b) must:
(1) be provided on a quarterly basis; and
(2) include the:
(A) name;
(B) address of record; and
(C) either:
(i) the Social Security number; or
(ii) tax identification number;
of individuals identified under subsection (b).
(e) When the department determines that the information required
under subsection (d)(2) is identical for an individual who holds an
account with a financial institution and an individual against whom a
levy may be issued by the department or a county treasurer, the
department or its agents shall provide a notice of the match, in
compliance with section 4 of this chapter, if action is to be initiated to
levy or encumber the account.
(f) This section does not preclude a financial institution from
exercising its right to:
(1) charge back or recoup a deposit to an account; or
(2) set off from an account held by the financial institution in
which the individual has an interest in any debts owed to the
financial institution that existed before:
(A) the state's levy; and
(B) notification to the financial institution of the levy.
(g) A financial institution ordered to block or encumber an account
under this section is entitled to collect its normally scheduled account
activity fees to maintain the account during the period the account is
blocked or encumbered.
(h) All information provided by a financial institution under this
section is confidential and is available only to the department or its
agents for use only in levy collection activities.
(i) A financial institution providing information required under this
section is not liable for:
(1) disclosing the required information to the department or the
child support bureau established by IC 31-25-3-1;
(2) blocking or surrendering an individual's assets in response to
a levy imposed under this section by:
(A) the department; or
(B) a person or an entity acting on behalf of the department; or
(3) any other action taken in good faith to comply with this
section.
(j) A person or an entity that is acting on behalf of the department
is not liable for any action taken in good faith to collect the state's levy
under this section unless:
(1) the action is contrary to the department's direction to the
person or entity; or
(2) for information provided under this section, the person or
entity acts with:
(A) deliberate ignorance of the truth or falsity of the
information; or
(B) reckless disregard for the truth or falsity of the information.
(k) The department or its agents shall pay a financial institution
performing the data match required by this section a reasonable fee, as
determined by the department, of at least five dollars ($5) for each levy
issued to the financial institution.
(l) This section does not prevent the department or its agents from
encumbering an obligor's account with a financial institution by any
other remedy available under the law.