Section
Breadcrumbs
Individual Development Accounts (IDA)
The IDA program assists low-moderate income Hoosiers attain their goals through matched-savings incentives and financial education. Operating behind the rationale that income alone is not enough for individuals to break trends of generational poverty, the IDA program focuses on asset building as a key component towards family and self-sufficiency. Participants in the IDA program are eligible to receive up to $4,500 in state match funds towards one of the eligible asset goals mentioned above. Participants also receive one-on-one counseling and 6+ hours of financial education covering topics such as budgeting, savings, credit, banking, taxes, and other money management strategies.
Qualified participants set savings goals and make regular savings deposits. Every dollar they save is matched, at a minimum for $3 for every $1 saved, to help them reach their goals so they can:
- Purchase a primary residence located in Indiana
- Expand a small business located in Indiana
- Obtain education job training
- Make essential repairs to owner-occupied housing
- Purchase a vehicle for employment, education, or job training purposes
Program Applications, Policies, and Forms
IDA 2023
The 2023 IDA and IDA Tax Credit Administrator application is now open and will close on May 8th at 5 PM Eastern. All applications may be submitted online via Jotform using the link below.
- 2023 IDA and IDA Tax Credit Application (online form)
- 2023 IDA and IDA Tax Credit Application (PDF-reference copy)
- 2023 IDA Application Webinar Slides
IDA022
- 2022 IDA Program Administrators
- 2022 Application Webinar
- 2022 Application Webinar Slides
- 2022-2026 IDA Program Manual
IDA021
IDA020
IDA019
- 2019-2020 IDA Program Manual
- 2019-2020 IDA Training Presentation Slides
- 2019-2020 IDA Training Presentation Video
IDA018
- 2018-2019 IDA Program Manual
- 2018-2019 IDA Training Presentation Slides
- 2018-2019 IDA Training Presentation Video
Reference Materials
IDA Guidance
- IDA-2021-01 - Use of Funds and Social Security Numbers
- IDA-2020-04 - Return of Funds and Match Tool
- IDA-2020-03 - Guidance on Vehicles, Client Tracking, Foster Kids, and Dependents
- IDA-2020-02 - Guidance on Net Worth and Training
- IDA-2020-01 - Guidance on COVID-19 Response - Updated July 28, 2020
- IDA Match Amounts and Rates
- IDA Bank Account Structure
IDA Required Documents
- 2022 IDA Match Claims Tool
- 2022 IDA Participant Application
- 2022 Household Member Zero Income Affidavit
- 2022 No Prior IDA Affidavit
- 2022 Income Calculation Worksheet
- 2022 IDA Savings Plan Agreement
- 2022 IDA Grant Reassignment Affidavit
- 2022 Request for Emergency Withdrawal
- Asset Purchase Withdrawal Form IDA018, IDA019, IDA020, IDA2021, and IDA2022
- Account Close Out Form IDA018, IDA019, IDA020, IDA2021, and IDA2022
Other IDA Resources
- IDA Claims Webinar
- IDA Rack Card
- IDA Flyer
- IDA Flyer - Invest in Your Future
- IDA Training Resources
- IDA One-Pager (updated May 6, 2019)
- Indiana IDA Program administrators - Updated August 31, 2020
- IDA Guide to IHCDA Online - Updated March 25, 2022
- Additional IDA Resources
2022 IDA Tax Credits
- 2022-2023 IDA Tax Credit Manual
- 2022-2023 IDA Tax Credit First Half Donor Report - Due January 13, 2023
- 2022-2023 IDA Tax Credit Second Half Donor Report - Due July 10, 2023
2021 IDA Tax Credits
- 2021-2022 IDA Tax Credit First Half Donor Report - Due January 19, 2022
- 2021-2022 IDA Tax Credit Second Half Donor Report - Due July 11, 2022
2020 IDA Tax Credits
- IDA Tax Credits Explanation
- 2020-2021 IDA Tax Credit Donor Reports
- 2020 IDA Tax Credit Program Management Guidance