Distribution Forms

[Guest NPS Darren]

Hi all,

In our office we are debating on what distribution forms we should be providing terminated participants. We have a set of standard forms we have used over the years which includes the standard special tax notice (one for Roth and one for Non-Roth). Our standard distribution form requests the terminated participant information, reason for distribution (termination, retirement, death, disability, etc....), election (Lump Sum or Direct Rollover), as well as an election to have additional federal taxes withheld. On our standard form we ask for Spousal consent if the plan is subject to J & S, we have a participant release agreement, as well as the waiver of 30 day waiting period.

Most of us in the office would prefer we continue with our standard forms others suggest we must use the Relius document forms which would include a special tax notice, participant distribution notice, and the participant distribution election form.

Does anyone have any feedback on this? For those with the Relius document software are you using their distribution forms?

Thanks for the feedback,

[Bird]

We use our own forms. There's certainly no reason that you must use Relius forms; I'd just compare them to yours and make sure you're not missing anything.