Group 1 - Access Period Changes
Group 2 - Vantage Screen Updates
Group 3 - Terminations & Discontinuing GIB
Group 4 - Distribution Changes
Group 5 - Tax Changes
100
For these 2 kinds of contracts, we cannot change the Access Period.
Beneficiary contracts with AP OPT of LEX
Irrevocable Trusts.
100
On POI1a, marital status should be coded this way on a qualified contract.
Blank
100
On day 2 of both Termination and Discontinuation of the GIB, the NEXT PAYOUT DATE on the POI screen should be _____ .
99/99/9999
100
Which Distribution Indicator should we use to send funds by check to an alternate address?
Blank
100
You can use this chart to verify each state's tax requirements.
State Tax Withholding Chart
200
For a beneficiary contract, we should refer to this chart to determine the maximum access period.
I4Life Death Benefit Life Expectancy CC Chart
200
The W/H CD on this screen needs to be updated when we get an error for CT state tax updates.
CI1
200
When terminating i4Life, this date should be the TRX EFF DT on the POI1 screen.
Current date
200
If the EFT information provided has not been used in the past, we should use this tool to verify EFT information.
GIACT
200
When the client selects "Do not withhold federal income tax," the FED W/H O/R field should be coded as _____ .
Y
300
For any contract signed in New Hampshire (NH), we should subtract from _____ to find the maximum access period.
100
300
These 3 fields should be coded on POI1 if we receive a FED W-4P form, and with which values?
FED W/H O/R
FED W/H PCT
FED W/H AMT
300
On the 1099ADD work item, the IRS Distribution Code should be ____ .
7
300
When we are splitting the payment to multiple payees, the REM AMT IND should be this for the final payee.
Y
300
This state only requires a tax form if the client wants us to withhold state tax.
Arizona (AZ)
400
How to calculate the maximum access period of a contract which has a secondary annuitant listed on it?
Consider the youngest annuitant.
400
When terminating I4Life on this type of contract, we need to update the annuitant's 99th birthdate on the GEA transaction.
Non-Natural owners
400
On day 2 of Discontinuing GIB, the payment start date on the NBI4LIFE macro should be _____ .
The next available payment date.
400
On which 2 Vantage screens should we enter alternate addresses and split distributions?
POI3
POI4
400
Connecticut (CT) requires this percentage of state tax to be withheld if we do not receive the CT W4P form.
6.99%
500
What 2 corrective actions need to be taken if vantage shows error “UA85 ACC PER + AGE >AM9/MB/AJ7”?
1.Verify your math.
2.Change the TRX EDT O/R TO A
500
If you receive Vantage error U767 NO ENTRY FOUND ON AM4 FAV TABLE, this change is required.
Change DBR to 02 and press F1.
500
For Trusts, Corporation, Custodial, other non-natural owners, an adjustment will need to be made on which transaction?
GEA SCREEN
500
When we change the distribution method from EFT to Check/AOR, which 4 fields do we need to remove on POI1?
EFT TYPE
PRENOTE DT
BANK ID
BK ACT TYPE
500
In the state of Michigan (MI), clients born before this year may opt out of state taxes without submitting form MI W4P.
1946