FTR

Work Types

100

The income distribution form creates which work type?  

FIDDIVMAINT 

200

Shares Leaving FTR by Transfer of Assets is what work type? 

FidTrans 

300

To establish a brand new FTR account this work type must be present 

Fidnasu 

400

If Shares or Money is coming into FTR which worktype is this 

TOA 

500

To redeem the share account via paperwork the worktype is ______ but to redeem the cash account the worktype is _________
To redeem the share account via phone the worktype is ____ but over the phone shares is ____

Fidsale, Fidred, Telfidsale, Telred 

Terminology

100

TOA

Transfer of Assets

200

TIK 

transfer in Kind 

300

Indirect or Direct _____________

Rollover 

400

RMD

Required minimum distribution 

500

DTC 

Depository Trust Company 

Forms

100

Establishes FTR account 

IRA APP

200

To update distribution and or tax withholding 

FTR Income distribution form 

300

To satisfy RMD 

RMD/Withdrawal form or Liquidation form 

400

used to complete internal transfer of assets or for FTR to initiate a transfer from a prior custodian 

TOA form 

500

to change ownership of an account 

FTR/FT change of ownership form 

All non FT accts need fund sponsor transfer form and IRA app

Procedures

100

Investor on a Griffin account calls in and says they need to set up a bene account. What forms do they need? 

FTR IRA APP, Bene election form and Griffin form 

200

Custodian calls in to request procedure on how to move share into a brokerage account on and FT account, what form is required and sign off?

Receiving custodian form with msg or LOA 

300

to update the broker dealer 

FT- account servicing form 

Non Ft- must contact fund sponsor for their form 

400

Rep calls and ask how to move FTR shares of FSK into brokerage account. What is required ?

Receiving firms transfer form with loa and msg- shares will move custodians than the account must DRS off the TA platform 

500

To take an RMD on a non traded share account and the redemption process is suspended 

Provide FTR withdrawal/ liquidation form forward caller to fund sponsor to obtain any required fund sponsor forms  

Tax Reporting

100

What tax form are retirement account reporting conducted on? 

1099-R & 5498

200

True or false 

All transaction on a indirect rollover are taxable: meaning from qualified to non qualified from non qualified to qualified would have tax reporting conducted 

True 

300

What are non reportable events ?

Anything that does not leave the IRA account : dividends paid to cash account or third party like IRA plan, reinvesting dividends 

400

True or False
QRA 7 is reporting 

QRA 4 and NR are not reportable 

False - QRA codes 7 & 4 are reportable & NR is non reportable 

500

A redemption left the live account and deposit into the cash account. The sh redeemed from the cash account. The tax form reports the live account transaction and the cash account transaction. Which one is wrong ? 

The live account is incorrect and a problem item to adj the QRA to NR should be conducted to correct the tax reporting on the live account