Can I collect financial information from participants in Connecticut? What are the requirements?

Collecting Financial Information from Participants in Connecticut

Based on the documents provided, the requirements for collecting financial information from participants in Connecticut depend on the purpose of the collection. Below are some relevant regulations:

• Campaign Finance: If you are a participating candidate in Connecticut’s Citizens’ Election Program, you may collect funds from your qualified candidate committee’s depository account, including grants, matching funds, qualifying contributions, and personal funds, for campaign-related expenditures that directly further your nomination for election or election to the specified office ^[2.1].
• Lottery Winnings: If a person redeems a winning lottery ticket worth $2,000 or more at the central office of the Connecticut Lottery Corporation, the corporation shall check the name and other identifying information of such person against a list of taxpayers who are delinquent, supplied by the Commissioner of Revenue Services. If the person is on the list, the corporation shall deduct and withhold from the lottery prize payment payable to such person the amount of delinquent taxes, penalties, and interest identified by the commissioner ^[3.2].
• Trust Participation: To participate in a trust in Connecticut, a prospective account owner must submit a completed application, a Social Security or taxpayer identification number, and an address in the United States for each of the account owner and the designated beneficiary. The account owner must also meet the qualifications set forth in federal law, Connecticut law, and the regulations governing the trust. The participation agreement shall be incorporated by reference in the application and set forth the terms governing an account in the trust. The account owner shall retain ownership of payments made under the program to an account in the name of the account owner and for the benefit of the designated beneficiary ^[4.1].
• Retirement Savings: The Connecticut Retirement Security Program allows for the collection of financial information from program participants. The Comptroller may contract with financial institutions or other organizations offering or servicing retirement programs and may require that each participant be charged a fee to defray the costs of the program. The amount and method of collection of such fee shall be determined by the Comptroller. No employer shall be required to fund or be responsible for collecting fees from plan participants. The Comptroller shall also establish and maintain a secure internet website to provide program participants with information regarding the various investment options offered through the program, including the historical investment performance of such options ^[5.1].

Therefore, the requirements for collecting financial information from participants in Connecticut depend on the purpose of the collection. If you provide more specific details about the purpose of the collection, I can provide a more accurate response.

Source(s):

• [2.1] Participating candidate use of campaign funds—general requirements
• [3.2] Deduction and withholding of delinquent taxes, penalties and interest from lottery winnings. Limitations on inspection or disclosure of tax returns or return information.
• [4.1] Trust participation and participation agreements
• [5.1] Comptroller to establish and maintain Internet web site for participants.

Jurisdiction

Connecticut

• Privacy