ACIP
A Full Agent completed the ACIP form for the client Oliver to have access to his IRA account the form was in good order, but agent still does not have access? Why not?
The client service failed for this case and the case was closed.
What accounts can use FAA form?
Individual nonretirement, IRA (Traditional, Roth, SEP, SIMPLE, Rollover, and Inherited IRAs owned by a non-minor individual Jointly held account registrations.
The maximum of two officers can register for online access. True or False?
False, only one can register for online access.
Can you grant information-only access to an organization account?
Yes.
This client was previously incapacitated, account is in a lock preventing them to do their RMD. They want to know how to unlock the account to get this status removed. What are the steps in removing the Agent?
The agent can be removed by a Letter of Instruction (LOI) signed by the account owner, along with a physician's certification that the account owner is no longer incapacitated or disabled this will unlock the account.
What agent can sell assets?
Full Agent
When identifying, who is authorized to act on an account owned by the organization, the VORF offers two levels of authorization. What are they?
Authorized signatories and Persons with Limited Authority.
What information can an associate provide an information-only client?
Account balance.
Client received DPOA in 1997 and just got physician note this year advising of spouse's declining state. Will it be acceptable?
Yes, In order to use an ACIP Form, the agent must have been appointed by the account owner at least 30 days before becoming incapacitated through a Durable Power of Attorney. If the client did not establish a Durable Power of Attorney prior to incapacity, then the ACIP Form cannot be used.
How do you revoke account access?
My Accounts<Profile & Account Settings<Account Permissions<then have the client select the “Revoke” option next to the name of the agent.
What is CAT?
Consolidated Audit Trail.
Does client information only access carry over when new account, but the same registration type is opened?
No.
How long does it typically take for POA to be added to Crave? Client wants to send the ACIP form, but POA information was sent in twice already.
Depends on how fast the processing team processes the paperwork. Once completed, it will be linked on Crave.
Can an agent be carryover?
The authorization will not carry over to different types of registrations that the account owner did not have at the time the FAA was received.
We can unlink/remove the organization account from the client's personal web profile? True or False?
False.
Can an information only access person have online access?
Yes, if interested party individual provided their TIN on the Information-Only Access form.
How do you send an ACIP form to someone that does not have an account currently registered with Vanguard?
Creating a Prospect Account.
What is requried for a FAA form?
Requires two witness signatures. Witnesses cannot be the account owner, or the agent being added. Notarized Signature from the account owner with two witness signatures.
How do you pass an organization account through security?
Callers Full Name, Organization Full Name, Account Number, Address of Record, Last 4 of the TIN/EIN (Tax Identification Number).
Information-only agents are able to make transactions on the account. True or False?
False.