Compensation for Soviet deposits in 2019

The content of the article

• Normative regulation
• Offset debts
• Non-Compensable Deposits
• Debt collection terms
• Depositors
• The heirs
• Who is not entitled to compensation
• Calculation of the amount payable
• Formula
• Odds
• Calculation Example
• Receiving compensation
• Documents for registration
• Methods of transferring funds
• Challenging the payout amount

Many residents of the USSR kept money at the Savings Bank. After the collapse of the Union, the accounts were frozen and the funds on them began to rapidly depreciate. Current legislation defines the conditions under which the depositor will be able to receive a refund for these savings.

Normative regulation

• Federal Law No. 459-FZ “On the Budget for 2019” dated November 29, 2018. It determines how the payment of Soviet deposits will be made at a specified time interval.
• Federal Law No. 73-FZ “On the Restoration and Protection of the Savings of Citizens of the Russian Federation” dated 05/10/1995. This is a basic normative act regulating the right of Soviet investors to receive compensation payments. In accordance with this regulatory document, many citizens have already been paid full or partial reimbursement.

Offset debts

According to the current legislation, Soviet-era deposits are classified as treasury bills of the USSR and are reimbursed from the state budget. Depending on the date when the deposit was closed, the final payment amount changes. The recipient needs to know that funds from Soviet deposits are not indexed and interest is not calculated on them.

Non-Compensable Deposits

Law No. 73-FZ says that deposits of the USSR Savings Bank are not refundable:

• Closed until 12/31/1991 years regardless of the reasons.
• Open after 07/20/1991 – for any amounts deposited.

Debt collection terms

If a deposit in the USSR Savings Bank meets the requirements, and previously no compensation has been issued to a citizen or was received in incomplete volume, then he may claim state compensation. In accordance with Law No. 459-FZ, payments in the USSR savings books in 2019 amount to 5.5 billion rubles..

Depositors

If the deposit falls under the state program for the compensation of Soviet deposits in Sberbank, then when calculating the amount of compensation, it is taken into account:

• Year of birth of account holder. Depending on the age category, the amount of savings of the depositor will be increased by 2-3 times.
• Account Closing Date. The law provides for reducing coefficients, which are determined by the term of the deposit after 1991.

The heirs

If the depositor dies, then his children and other legal heirs can receive the due funds. In addition, the state reimburses the burial expenses of the depositor of the USSR Savings Bank. This money will be given not only to the heirs, but also to any other individuals (acquaintances, neighbors, etc.) who paid for the funeral services. The amount of compensation depends on the size of the deposit as of July 20, 1991:

• From 400 rub. inclusive – 6 000 rubles.
• Up to 400 rub. – 15 times the value of the deposit.

Who is not entitled to compensation

• Clients of the USSR Savings Bank without Russian citizenship.
• Persons who have fully received compensation for Soviet savings, as well as compensation for the burial of a depositor.
• Citizens who closed the deposit from 07/20/1991 to 12/31/1991.
• Heirs of the account holder born after 1991.

Calculation of the amount payable

The Sberbank website has an online calculator that can be used to calculate the amount of budget compensation for Soviet deposits. Knowing the calculation scheme and the required data, calculations can be done independently.

Formula

RKV = (OSS x KKN x VK) – RPK, where:

• RVC – amount of compensation payments.
• VC – age coefficient.
• OSS – the balance on the account of the depositor of the USSR Savings Bank as of 07.20.1991.
• KKN – coefficient of compensation accruals.
• RPV – previously received payments.

Odds

An important factor determining the amount of compensation is the year of birth of the owner of the deposit:

• Until 1945 (inclusive) – 3-time refund of funds on the account as of July 20, 1991.
• After 1945 – double increase in deposit finance.

Another indicator is regulated by the interval of existence of the contribution to the post-Soviet period. The table shows how this affects the amount of compensation:

Calculation Example

Using the formula and coefficients, the account holder or his heirs can easily calculate the amount of compensation. For example, a milling machineer born in 1944 opened a passbook in January 1991 and put his monthly salary of 130 rubles on it. Since then, he no longer replenished the account, did not close it and did not receive any compensation payments..

In this case, for 2019, the reimbursement will be:

• State compensation to the owner of the deposit or its heirs (130 rubles x 3 x 1) – 0 rubles. = 390 rub.
• In the event of the death of the depositor, persons who paid for the funeral – 130 rubles. x 15 = 1950 rubles.

Receiving compensation

1. Prepare an application and a package of necessary documents.
2. Submit them to the branch of Sberbank.
3. Wait for the results of the review, this takes a week. Employees of the credit institution will clarify whether this person is entitled to compensation for deposits in 2019. If the result of the check is positive, he will be credited with the due amount.

Documents for registration

Cash compensation for deposits is calculated and issued on the basis of an application with the entered data:

• Surname, name, patronymic of the contributor.
• His passport details.
• Similar information about the applicant, if the appeal is on behalf of the heirs.
• Request for compensation for funds stored in the savings book.
• Applicant-friendly way to receive a refund.
• List of attached documents.
• Date of writing and signature of the applicant.

In person

Basic package of documents:

1. Statement.
2. Passport or other identity document of the applicant.
3. Savings book. If a citizen does not have it, then it is necessary to prepare a statement of loss, where to indicate the place of registration and the approximate amount on deposit. These data will help Sberbank employees recover their passbook.

If the heir of a person who had a deposit with the USSR Savings Bank applies for compensation, you must add:

• Certificate of succession, with notarization.
• Depositor death certificate.

For the trustee

If the account holder or his heir cannot personally receive the money (due to a serious illness, living abroad, etc.), then they have the right to entrust this to another person who will have on hand:

• Power of attorney sealed by a notary’s signature.
• Trustee Passport.

Methods of transferring funds

1. Transferring money to the applicant’s bank account (plastic card).
2. Cash withdrawal through an operator at the cash desk of a credit institution.

Challenging the payout amount

The recipient may not agree with the amount of compensation for various reasons:

• A 2-fold coefficient was used instead of a 3-fold. The amount of increase is determined by the date of birth of the contributor. If it falls on the period after 12/31/1945, then the funds in the account will only double. If the wrong date was indicated in the passport, then the recipient must take care to correct this error.
• Incorrectly applied reduction factor. This is possible with the loss of a passbook, when information about the amount of money is updated according to available data. If the owner of the deposit or his heirs cannot confirm that the account was not closed, then they will have to agree with the information of the credit institution.
• A small amount of deposit. The situation is similar to that described in the previous paragraph..
• Lack of indexation of funds in the Soviet account. The most difficult of all these situations due to the fact that in reality contributions no longer exist. Due to the lack of this money, they are not indexed and interest is not charged on them..

In the first three cases, if the depositor provides new documentary evidence in his favor (newly received passport with the correct date of birth, found passbook, etc.), the payment amount is reviewed and additional money can be paid to him.

To do this, you must:

1. Prepare a statement where to state the reason for disagreement with the previous size of payments.
2. Submit it to the branch of Sberbank, providing documentary evidence.
3. Wait for the results of the review. If the bank refuses to charge additional funds, the applicant has the right to resolve the issue through the court.

If in the first three cases claims are brought against Sberbank, which reimburses deposits according to the state payment program, then in the latter situation the addressee for claims is unclear. The previous organization no longer exists, and the state has taken upon itself the debt. But regardless of which of the four situations caused the dissent of the depositor, his costs of the proceedings will usually exceed the expected benefits.