Is it possible to cash out maternity capital in 2020 and how

2024 Author: James Gerald | [email protected]. Last modified: 2023-12-17 14:00

The legislation of the Russian Federation provides for all possible ways to use the funds of the mother capital, but still many are trying to find an alternative option for receiving funds in cash. Is it possible to cash out maternity capital in 2020, as well as what it is allowed to spend money on - find out further.

About maternity capital

Matkapital is a one-time payment that parents can count on when a child is born. Moreover, earlier the certificate was relied only on the birth of the second and subsequent children, but from 2020 it is possible to receive funds for the first child.

The size of the capital has increased by 13,600 rubles and is 466,617 rubles compared to last year. Indexation applies to all certificate holders who saved funds at the end of 2019 in whole or in part.

It is important to understand that there are no legal ways to cash out maternity capital in 2020. All ads related to the provision of cash upon receipt of the certificate are fraudulent.

Types of maternal capital fraud

When thinking about whether it is possible to cash out maternity capital in 2020, many people fall for the trick of scammers who promise to help get cash. Recommendations for those who want to avoid illegal transactions and protect themselves from problems:

1. When faced with unverified organizations that offer to provide funds without interaction with the Pension Fund of the Russian Federation, it is important to stop communicating with them as soon as possible.
2. It is important to contact only large banks for cooperation.
3. You do not need to use the services of microfinance organizations.

Any fraudulent transactions related to the sale of certificate means are punishable in accordance with Article 159 of the Criminal Code of the Russian Federation.

Legal ways to use the capital

For many residents of Russia, maternity capital is a real help. But you can spend funds only for certain purposes that are established by the state. In 2020, the list of areas for using matcapital has changed slightly. Let's consider them in more detail.

In the form of cash payments

Many people ask the question: is it possible to cash out part of the maternity capital in 2020? Indeed, recently a law came into force that mothers of babies born after January 1, 2018 can expect to receive a monthly payment from the funds of the certificate for the child.

It is important to take into account one nuance: in order to receive funds in this form, the income of one family member should not be higher than two indicators of the subsistence minimum established at the level of the region in which the needy family lives.

If the condition is met, then the mother of the child will be able to receive payments from the mother capital every month until the baby reaches three years of age.

In the event that payments were assigned within six months after the birth of the baby, the transfer of funds will be carried out from the month when the child was born. If you issue payments after 6 months, then the receipt of funds will begin from the date of application.

To improve living conditions

The money that the state allocates to families at the birth of a child can be spent on improving the quality of housing. These funds are allowed:

• build a private house;
• purchase real estate;
• make an initial payment on a mortgage loan, refinance an existing one;
• to reconstruct already purchased housing.

When engaged in the construction or reconstruction of real estate, it is important to take into account that in this case it is not allowed to enter into contracts with private contracting teams in order to use the funds of the mother capital.

For a child's education

Preschool and secondary education in Russia is provided to children free of charge, but there are many institutions that offer paid services. In this case, matkapital can be spent for the following purposes:

• study of preschool education programs;
• getting basic knowledge;
• secondary education;
• complete (general) education;
• higher education.

It is important that the educational institution where the child is educated has state accreditation. You can spend funds within 25 years from the date of the birth of the child.

As mother's money

Another legal way to use the funds of the mother capital is to invest in the mother's pension (funded part). In this case, the money is transferred to the Pension Fund.

For the life of a minor with a disability group

The funds can be used for the rehabilitation and socialization of children with disabilities.

Summarize

1. There are several legitimate uses for funds. Matkapital can be spent on the purchase or construction of housing, on the education of a child, as a mother's pension savings, on the rehabilitation or socialization of a disabled child.
2. In addition, you can arrange monthly payments. But this is possible provided that the family income per person does not exceed 2 indicators of the regional subsistence minimum.
3. There are many organizations that offer to get around the law and get funds in cash. At the moment, this is impossible and punishable by law.