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How to prepare Dfas 702 Form

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About Dfas 702 Form

The DFAS 702 Form is used by military personnel to authorize payments to be made from their pay account to a designated third party. The form is also used to request the change or cancellation of a previously authorized allotment. The DFAS 702 Form is used by active duty, reserve, and National Guard members to set up allotments for dependents, child support, mortgage payments, insurance premiums, and other authorized purposes. It is also used by retired military personnel and survivors who receive pay from the Defense Finance and Accounting Service (DFAS). In summary, anyone who is a member of the military or a retiree/survivor who receives pay from the DFAS may need to complete a DFAS 702 Form to authorize payments to a third party.

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Video instructions and help with filling out and completing Dfas 702 Form

Instructions and Help about Dfas 702 Form

Background [Silent] Hi, I’m Aaron Gillison, Director of DFAS Indianapolis. 0:00:23.000,0:00:20.000 Like our teammates at other sites, DFAS Indianapolis employees are working hard to ensure both DFAS and our customers 0:00:29.000,0:00:24.000 are prepared for audit scrutiny, across our many diverse organizations. Today you will hear form employees who participate in ensuring military pay expenditures are properly initiated, disbursed and recorded. From the moment a soldier submits paperwork for a new entitlement, all the way to when that entitlement hits the financial statement; employees are ensuring the transaction is accurate and follows internal control procedures. I'm proud of my DFAS Indianapolis teammates for their commitment to audit readiness Seeing their hard work first-hand has made me confident that DFAS will lead the Department of Defense in audit readiness and audit steadiness. Background Hi, I'm Alan Leaonard from the Defense Military Pay Office located at DFAS Indianapolis. One very common entitlement we process for Army soldiers is Basic Allowance for Housing, or BAH. An active duty soldier who gets married is usually entitled to more money for living expenses. To increase the BAH, the soldier will send us a completed DA Form 5960 with a copy of their marriage license certified by a commissioned officer along with their orders. These documents allow us to verify that the soldier is indeed eligible to receive BAH at the dependent rate. We also use a special calculator to ensure the amount of BAH is correct and the location is eligible. We code the entry into our system, Defense Military Pay Office (DMO) which feeds into DJMS, the military pay entitlement system used at DFAS Indianapolis. The next day we go into DJMS and verify the transactions posted correctly. We...