Benefit Letters

Table of Contents:

Requirements

**Recommended Submission**

Other Acceptable Documents

Bank Statement Guidelines

Benefit Statement Guidelines

Benefit Letters must meet the following requirements:

  1. First and Last name that matches the name on your Fig account 
  2. Date (within 45 days of application)*If your benefit letter isn’t dated within 45 days of your application, we will also need to see your actual bank statement showing that deposit going into your account.  
  3. Gross Pay
  4. Net Pay

**Recommended Benefit Letter Submission**

If you follow the process below and your letter is dated within 45 days of your application, your income document will be approved.

  1. Download your most recent benefit letter directly from your SSA account.

    SSA website: https://www.ssa.gov/manage-benefits/get-benefit-letter

  2. The letter should look like this:
    bl_1.png

  3. If you have a benefit letter of this type that is not dated within 45 days of your application, it can be accepted WITH a valid bank statement showing proof of benefit deposit within 45 days of your application

Other acceptable documents

1. Federal "Your New Benefit Amount" document (with first and last name) AND a valid bank statement showing proof of benefit deposit.

Here is what we mean by "Your New Benefit Amount" document:

Screenshot 2024-04-24 at 3.57.57 PM.png

PLEASE NOTE: "Your New Benefit Amount" document will not be accepted on its own. 

While it is valid document, we CANNOT accept the above as your only income document because it does not have a date and show proof of payment.

This letter must be paired with a recent bank statement that matches your benefit deposit amount going into your account. That bank statement must show all of the following:

  1. The benefit deposit date within 45 days of your application
  2. Your first and last name that matches your name on your Fig account
  3. A statement date 

[Additional example coming soon]

2. Image of your Unemployment Benefit Payment. 

Reminder: The name on the statement must matches the name on your Fig account and the payment must be dated within 45 days of your application. 

Here is what an Unemployment Benefit Payment might look like: 

Screenshot 2024-04-23 at 4.19.28 PM.png

3. Image of your Annuity Statement 

Reminder: Your name needs to be on it that matches your name on your Fig account and dated within 45 days of your application. 

Here is what that image looks like: 

Screenshot 2024-04-23 at 4.30.42 PM.png

Bank Statement Guidelines

We CAN accept pictures of full bank statements.

We CANNOT accept a screenshot of individual transactions or lists of transaction from your bank showing only the benefit deposit. This is because the bank statement component must also show both: 1) your full name as it appears on your Fig account and 2) a statement date. 

Here is an example of what we CANNOT accept:

Screenshot 2024-04-19 at 1.24.46 PM.png 

Benefit Statement Guidelines

We CAN accept pictures of full official benefit documents.

We CANNOT accept a screenshot of your benefit summary page for income verification. That is not the same as your actual benefit letter because it is not an official document and does not contain your full name.

Here is an example of what we CANNOT accept:

Screenshot 2024-04-23 at 2.15.58 PM.png

 

 

 

 

 

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