hileman Posted November 4, 2019 Posted November 4, 2019 I have a non spouse beneficiary. did not start taking payments so he is on the 5 year clock to have the monies out. No response and cannot verify a good address since it has to be out of the plan in 5 years, can it be forced to an IRA? or, can it be forced to the state unclaimed funds? cannot find any real guidance on this situation
fmsinc Posted November 5, 2019 Posted November 5, 2019 What is your role/title? What type of plan? Is it a qualified plan? Are you under the impression that you can set up an IRA for someone who you cannot locate? Are you under the impression that you can send funds into an unclaimed state fund before the expiration of 5 years? What is the source of your 5 year limitation? Have you hired a private investigator to locate the beneficiary? Does the plan provide for an alternate beneficiary such as the estate of ???
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