This is to validate the appropriate tax reporting and withholding amount prior to completing the distribution
What is the owner's completed W-9 Form?
100
When the issue state and/or resident/mailing address is foreign, but it is one of these three places, a W-8BEN Form would not be needed
What are Puerto Rico, Guam, or the Virgin Islands?
100
After a policyowner indicates he or she is unable to provide a completed W-9 Form the first time, this is what we will do
What is continue to process dispersements based on the established guidelines until a completed and signed W-9 Form is received?
200
The two possible reasons you would request the completion of one
What are a foreign issue state AND/OR a foreign mailing/resident address (i.e. outside the 50 states)?
200
The PO name (first and last), resident address, gross distribution amount, and withholding amount
What are the four things you must email to Rob Kaipust for 1042-S tax reporting?
200
When the issue state and/or resident/mailing address is foreign AND this has not been provided, you will ask for a completed W-8BEN Form
What is a completed W-9 Form?
200
When another round of mail would cost us too much time and cause too much additional waiting for our customer, this is a best practice
What is making a phone call?
300
It is used to determine if standard U.S. withholdings can be used, rather than to determine citizenship as it is commonly confused.
What is a social security number?
300
Surrenders, "In-benefit" Annuities, SYSW, RMD's
What are cases/situations of taxable disbursements?
300
A completed W-8BEN Form guides Rob Kaipust to advise us on the appropriate withholding amount, but no matter what it is, this will always be carried out.
What is 1042-S tax reporting?
300
This is a source of modified withholding guidelines
What is a U.S. Treaty allowing for specified withholding percentages different from the standard 30%?
400
These are the places listed that would cause you to proceed with 1042-S tax reporting AND withhold the mandatory 30% if a completed W-9 Form is not provided by the owner.
What are Puerto Rico, Guam, or the Virgin Islands?
400
TAX INFORMATION is its description
What is BE 459?
400
When a W-8BEN Form is found in Web Folder under a MISCELLANEOUS or FAX title, this is what you change the document name to.
What is TAX INFO?
400
In addition to the initial request for a W-9 Form, BE 459 needs to be opened and closed with this
What is a BENOTE that briefly describes tax related actions?
500
An additional request for the individual's tax ID number (TIN) is necessary when the W-9 Form is not provided by the owner and this is the issue state and/or resident/mailing address
What is a foreign address other than Puerto Rico, Guam, or the Virgin Islands?
500
This is the Foreign Withholding account for Open Item
What is 202135?
500
If the individual has been unable to provide a W-9 Form, AND he or she cannot provide a W-8BEN Form, this is what you must do.
What is proceed with 1042-S tax reporting with the mandatory 30% withholding?
500
An owner does return a W-9 Form to us, but it doesn't include a Social Security number, so this is what needs to be done.
What is proceed with 1042-S tax reporting AND withhold the mandatory 30% and be sure to send a letter to the customer indicating this is the action taken?
also acceptable:
What is ask for a completed W-8BEN Form?