jane123

b2kates, You are great!! Thanks Jane

Can an inservice withdrawal be a total distribution? or is there a limit on the amount that can be taked? Thanks Jane

he sure got him!!

attainment of retirement age Thanks

Account owner has balance of $10,000 Loan balabce of $2,000 wants to close account. Can the participant use funds from the account balance to pay of the loan, if he has a triggering event? Thanks Jane

Th trust is a separate entity from the individual. a TIN must be obtained for the trust to establish a separate identy , mainly for IRS purposes (

Thanks Mike Preston, the schedule P instructions state ( under who may file)... trustee of trust...401(a) an custodian or custodial account as described in Code section 401(f). 401(f) suggests a 403(B)(7) , in my opinion

b2kates I see your answer to my other question. This helps- but I have another follow up question, which I posted to that thread. Thanks again

b2kates Thank you. I am confused though- does't box 14 on 1042-S require a TIN for the recipient?

Thanks all b2kates, Can you help me to understand how to make that determination? When I looked at the instructions for filing form 1042-S and Form W-8 ben, it seems to say that a tax ID number is mandatory. However, I am aware that another firm processed a transaction without the Tax ID number…but they are unable to explain how they arrived at the determination that they could. Thanks Jane

We are the plan sponsor of a prototype document, used by many employers. The plan assets are held in accounts with us. So technically, we could be the custodian as in having custody of? The schedule P requires the signature of a fiduciary (or custodian). I think, with respect to the schedule P, custodian means custodian of an ERISA 403(B), not a 401(a) plan. This means that for a 401(a) plan, we must not sign as fiduciary, the trustee or other fiduciary as designated by the plan, should sign as fiduciary. Am I Right?

Does form 1042-s require a tax ID number in all cases? Thanks Jane

I have a non-resident alien bene who is unable to set a SS# and does not have an ITIN. She says she is not required to obtain a ITIN. Is there an exception that would allow us to pay out the distribution without obtaining a ITIN or SS#? Thanks for your help.

The levy was issued by the state , not the IRS, with instructions to pay the Sheriff. My research show's that this is referred to as a "sheriff's Levy"... A Sheriff's levy is issued when the individual is required to pay money to the court for garnishment etc. sometimes as a result of a lwasuit...

Remysis, your link does not work- could you please repost? Thanks Jane

Can a sheriff’s office levy against an IRA? If so, how is this affect by the States Statue, if it protects IRAs against bankruptcy proceedings? Thanks Jane

Can a sheriff’s office levy against an IRA? If so, how is this affect by the States Statue, if it protects IRAs against bankruptcy proceedings? Thanks Jane

Thanks Fredman- terifically (sic) explicit instructions

Fredman, Please tell me how you go about adding a link like that to the board. I cna do it in word, but can't figure out how to do it here Thanks Jane

Yeah- I like Appleby's suggestion too...I would volunteer to write the letter but I am a poor writer

Isn’t this a SIMPLE excess nondeductible contribution which should be reallocated towards the following year’ contribution until used up? Don’t get caught up in the fact that the contribution was made to one individual’s account- fact is , it was made to the ‘plan’ and is an excess to the plan

Absolutely

back to court- this new development could mean the doc paying out less- assuming the loss in value was not orchestrated just to spite the spouse of the doc- like wilfully investing in junk stuff..

You should have Fidelity correct the error- they are obligated to If your account reports the first distribution as a rollover, it will come up as a discrepancy on the IRSs record. Of course, you could file form 8275 http://www.irs.gov/pub/irs-pdf/i8275r.pdf http://www.irs.gov/pub/irs-pdf/i8275.pdf with your return or attach a letter of explanation to the IRS- but Fidelity doing then right thing removes any burden of proof from you

Pershing offers a prototype SEP doc. It provides for permitted disparity. You would need to go through one of their correspondent/broker-dealer firms www.pershing.com