                                 CODE OF VIRGINIA

VOUCHERS AND STATEMENT OF ASSETS ON HAND; DIRECT PAYMENTS TO ACCOUNT; VOUCHERS
FOR IRS PAYMENTS (§ 64.2-1311)

A. Vouchers for disbursements and a statement of cash on hand or in a bank and
all investments held at the terminal date of the account shall also be exhibited
with each account. A voucher shall not be required when a disbursement, not
exceeding the value of $50, is made to a legatee under the authority of a will
and such legatee refuses to take the possession or fails to present the
disbursement check to a bank for payment. In such case the fiduciary shall file
an affidavit stating that he has made a good faith effort to comply with the
terms of the will and the provisions of this section.

B. A fiduciary may make payment to a beneficiary by transfer to the
beneficiary&#8217;s bank account with the fiduciary or by payment to an account
with another bank through an automated clearinghouse, wire transfer, or similar
mechanism, if the beneficiary has consented in writing to such method of
payment. In either case, a record or statement of the bank making such payment
shall be a sufficient voucher for the purpose of subsection A.

C. In the case of payments to the Internal Revenue Service for income tax
estimates or any other payments required or permitted to be made by wire
transfer or similar mechanism, a record or statement of the bank making such
payment shall be a sufficient voucher for the purpose of subsection A.

D. In the case of payments of debts, taxes, and expenses, a corporate
fiduciary&#8217;s affidavit signed by an officer familiar with the facts that
describes each payment by date, payee, purpose, and amount shall be a sufficient
voucher for the purpose of subsection A. However, the commissioner of accounts
may require that the corporate fiduciary exhibit a voucher for a specific
payment.

E. In the event a fiduciary seeks to use a check as a voucher or receipt under
this section, (i) a copy of both sides of the check shall be sufficient or (ii)
a copy of the front side of the check and the periodic statement from the
financial institution showing the check number and amount that coincides with
the copy shall be sufficient, provided that (a) the copy was made in the regular
course of business in accordance with the admissibility requirements of &#xA7;
8.01-391 and (b) the commissioner of accounts may require a fiduciary to exhibit
a proper voucher for a specific payment or for distributions to beneficiaries or
distributees. However, the commissioner of accounts shall not require a
fiduciary to exhibit an original check as a voucher under this subsection.

HISTORY: 1993, c. 689, § 26-17.9; 1999, c. 74; 2003, c. 201; 2005, cc. 261,
277; 2012, c. 614; 2014, c. 532.