Basics
What is the order for ASQ's
Date of birth, primary email, account number, mailing address
Who handles all transactions outside of VG mutual funds
Investments
What is the contribution deadline for a TRAD and Roth IRA
73
Anytime we are mailing something to a client what do we have to verify
The mailing address
What are the three share classes
Investor, Admiral and ETFs
What are the Roth IRA Distribution order
1. Contributions
2. Conversions taxable amount
3. Conversions non taxable amount
4. Earnings
When can a spouse assume an IRA?
they can assume it directly if they are the sole bene or they can inherit it then assume it
Do you give me permission to speak, act, transact and go over security with a 3rd party on the line? I also wanted to let you know that this permission is only valid for this call. It will not be able to be used on future calls.
Where should we send a client who is looking for additonal services through VG? What is that ext?
RSG and rsg_p4p
What are the implications on a Trad IRA distribution
If under 59.5 subject to income taxes and a possible penalty. If over 59.5 subject to income taxes and no penalty
When setting up a clients RMD service what is the option under step 1 in regards to frequency and how they can chose the funds the money comes out of
They can do annually, semi annually, quarterly, monthly and they can choose the specific funds, proportional or equally
What is the distribution rule on inherited Roth IRA's post SECURE act
They will follow the pre-RMD rules and would not have an RMD obligation in years 1-9. Meaning they would have to clear the account by 12/31 of the 10th year after the owners death
How do we pull up a trust/estate/minor profile
By using the account number
Where would you guide a client to review the mutual funds available for them to purchase? If they are looking for something that is a balanced class how do they view just those funds
Products & Services--mutual funds--view all VG mutual funds--Filters--Asset Class--Balanced
What are the 72(t) exceptions
Disablity, Death, Qualified Disaster Recovery, Terminal illness, emergency expenses, domestic abuse, IRS levy, heath (or medical) insurance for unemployed individuals, unreimbursed medical expenses in excess of 10% AGI, first time home purchase, qualified higher education expenses, birth/adoption of child, qualified reservist or SEPPS
If a client wants to take a QCD and has the automated RMD service set up what are we required to do when the transaction is pending vs settled
If pending submit an adjustment through JTT if settled cancel and re-establish plan
A client calls in and they state there minor child inherited a TRAD from their father who passed away in 2023. The father was taking RMD's and they want to know what the distribution rule is
Withdrawals based on beneficiary’s non-recalculated single life expectancy beginning by December 31 of the year following the year of death until reaching age of majority
Upon reaching age of majority (age 21 for inherited IRA purposes), the account becomes subject to the Ten-Year Rule beginning the year after reaching age of majority:
Beneficiary would continue taking RMDs through the year they attain age 30 and then need to liquidate the account in the year they attain age 31. The Vanguard RMD Service would be available in this scenario, but the client would need to remember to liquidate the account in the tenth year
What is org security
1. Callers full name (name is listed on VG Org Resolution
2. Organization Name
3. Last 4 TIN or EIN
4. Full AOR
5. Account number or confirm callers name on Org Res and then pass client through their own security on their profile
What questions do we have to ask in order to do a one-time wire to a bank not on file? What kind of security is needed
Confirm the beneficiary of the wire, verify the purpose of the wire, confirm how the client validated the wire instructions and OTP
What is the purpose of the 1099-R, 5498, 5329 and 8606
1099-R--tracks money out of an IRA
5498--Tracks money into an IRA
5329--Is used for penalty situations
8606--used to track nondeductible contributions to TRADs, distrubtions from TRAD, SEP or Simple IRAs when the clients basis in the TRAD is more than zero, distrubitions from Roth IRAS, Conversions from TRAD, SEP, Simple to Roth IRAs
In a situation where the client misses an RMD, per the infowave what is the procedure? What are the possible penalties associated
A client calls in, she explains that she inherited her husbands IRA but now she wishes to assume it. She wants to know how she can do that