Find a participant

[Guest Alwaysthinking]

Does anyone have a reliable link for finding lost participants?

[Guest jhilliard]

These guidelines are what we use:

The Plan Fiduciary:

1. Must take reasonable steps to locate the participant. These can include the following:

·IRS letter-forwarding program (Rev. Proc. 94-22)

In order to utilize this program you will need to provide the name(s), social security number(s) and last known address(es) of the individual(s) you are trying to locate and attach the actual letter that you would like to send to the individual(s). Please include the following disclaimer in the body of the letter:

In accordance with its current policy, the Internal Revenue Service (IRS) has agreed to forward this notice because we do not have your current address. The IRS has not disclosed your address or any other tax information and has no involvement in the matter aside from forwarding the letter.

Here is the address that you should direct correspondence to:

Internal Revenue Service

Internal Revenue Service District Office

Director, Office of Disclosure

CP: EX: D Room 1603

1111 Constitution Avenue, NW

Washington, DC 20224

Requests of up to 50 letters or less are not subject to any type of fee. Please keep in mind that this process can take several months. Any questions should be directed to the IRS at (313) 628-3250.

· Local Social Security Administration Office

· Hire private locator service

2. Must adequately protect the participant’s benefit. Consider the following options:

· IRA – Establish a rollover IRA at a financial institution on behalf of the missing participant.

· Annuity Contract – Use the account balance to purchase a deferred annuity contract or an irrevocable commitment from an insurer that will pay the participant’s benefit at normal retirement age.

· Deposit Account – Deposit the account balance with a financial institution (IRA option is preferable to this one).

· Withholding – Withhold 100% for federal income taxes (Not formally sanctioned by IRS or DOL).

· Escheat – Check state escheat rules for abandoned property. May be able to turn over account to state if the above methods are not administratively practical.

Hope this helps

[Brian Gallagher]

For starters, we use accurint.com. They charge, I think a quarter per search. But I'm not sure if you need a membership or not. They are at www.accurint.com

...bg

[K-t-F]

Is the address that JHilliard has in the post good for any state.... do all letter forwarding requests go there?

Anyone have any experience with the letter forwarding program?

[Bird]

We use Comserv's Automated Location Information Account System (ALIAS) service. We provide all the info we have in an Excel file and they get back to us within a day or two. It's $25 per name (as I look at their website they say they charge hourly with a 1 hour minumum so I don't know if that's a change or simply the hourly rate). No charge if they don't generate an address.

We're happy with them; at least you get an answer. I don't have the time to use the IRS/SS programs, although it appears you have to go through one of those motions if you want to "prove" that a person is missing under the DOL FAB.

I think you have to call first to set up an account, then you e-mail info as needed. 866-937-2836

[jquazza]

Try employeelocator.com, it's $10 per part, response within 24hr.

[Harwood]

PATA: IRS Disclosure Offices: http://www.irs.gov/foia/article/0,,id=123736,00.html

[Brian Gallagher]

The bad thing with the IRS program is that you never know whether or not the letter is deliverable (unless, subsequently, the participant does the distribution).