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MI Form 4506T-EZ: What You Should Know

This form must be maintained in a secure, confidential location that is clearly labeled with the participant retention requirements. When such an entry is made in the audit log, the student is required to sign the completed portion of the form to indicate compliance. A copy of the audit log and completed Form 4506-T-EZ will provide adequate documentation for reporting and verification of student status. See IRM 22.3.1.4.5, Student Financial Aid Audit Log and IRM 21.1.4.4.7 FIVE Participant Tracking System Program. For more information on these topics, see IRM 1.1.4.4.7.2. MM 600 — FIRES Audit Log MM 600 — FIRES Audit Log is a new form developed to provide audit log-type information that is used to verify the following information when an individual participates in the IRS Electronic Student Loan System and an account owner logs into the system via an IRS account: Individual's name. Number(s) of the accounts that an individual has: The number of balances in the account. This information is required in addition to either an SSN or account number. The date(s) a student account was opened and the date the account was closed. Account balance. Individual's mailing address. Any account number or SSN provided to us by the IRS. Payee Address. The address for any financial institutions that may be providing service to the student. MM 600M — FIRES Audit Log (IMF) MM 600M — FIRES Audit Log (IMF) is a new form developed to provide audit log-type information that is used to verify the following information when an individual participates in the IRS Electronic Student Loan System and an account owner logs into the system via an IRS account number: Individual's name. Number of the accounts that an individual has: The IRS account number(s) associated with the individual. The date(s), if available, of the end of the student period(s) for which the individual took the student loan. The account balance by type or dollar amount. The type of student education tax credit (TEAM) earned in each student period: The amount of TEAM due for the individual's account.

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