Who is eligible to receive the annual statement for funds on deposit with a funeral home?

• A. The Person Who Has Funds on Deposit
• B. The Funeral Home Staff
• C. The Deceased's Family Member
• D. The Regulatory Agency

Answer: (A)

The key point is who owns the money. Funds on deposit with a funeral home are there for the person who deposited them, so the annual statement is intended for that person—the owner of the funds. This statement updates the owner on what has been deposited, any withdrawals or changes, and the current balance, helping ensure transparency and accuracy of prepaid arrangements.

Staff members of the funeral home don’t have a right to receive someone else’s financial statements, and while a deceased person’s family may be involved in the arrangement, they aren’t automatically the recipients of the annual statement unless they are the owner of the funds. The regulatory agency oversees compliance, not the routine recipient of the depositor’s financial details.