Schedule SSA question

[BG5150]

The instructions say to give someone an Entry Code of "D" if they have been paid out or if their balances have been transferred to another plan.

Also, it says to "d"elete someone if they have begun to receive benefits from the plan. I have two questions:

1. Would this include someone who is taking RMDs from a 401(k) plan?

2. Would this include someone who had a $50,000 balance and merely took a $15,000 partial distribution from a 401(k) plan?

On a side note: I also see that you are supposed to put the person's name on the form "exactly as it appears on the participant's social security card." How are we to know? I have plenty of participants with the name of Timmy O'Brien or Peggy Swanson. Is that really a big deal?

[Andy the Actuary]

The purpose of Form SSA is for the SSA to inform a worker that he might have a benefit entitlement. If the worker has started to systematically receive his benefit or has received his benefit in total, then the worker knows he has a pension. Listing with Code "D" could be inferred if either of these conditions apply.