We received a withdrawal that was signed on 1/27/11 but no withholding form was received. Which of the following is the correct procedure?
A. Use IGO WH form in the file signed 12/12/10
B. Use IGO WH form in the file signed 10/13/10
C. A new form is required since a tax year has been crossed
What is (A) Use IGO WH form in the file signed 12/12/10
100
This is the only SIA product that is flexible premium
What is the SIA III
100
This is the keyword search for a 1099R correction.
What is Annuity Tax
100
These are the dates in which carryback contributions are allowed for 2010
What is January 1, 2011 through April 18, 2011
200
This product allows all charges on all deposits (whether the bucket qualifies for the bailout or not) to be waived as long as at least one bucket pierces the bailout
What is the SIA III
200
This withholding form is required for RMDs and regular distributions
What is FIC276NP (Withholding Election for Non-Periodic Annuity Distributions)
200
This is when the SIA I is surrender charge free.
What is the anniversary following the owner's 85th birthday.
200
This document will advise you on 3rd party authorization.
What is 'Annuity Inquiry Processing Guidelines'
(keyword search: Annuity Inquiry)
200
This trailer is used to distribute a prior year's RMD on the SW screen.
What is an 'F' trailer?
300
These 4 locations on Transcend will identify if the contract has pierced the bailout.
What are the statement, NO screen, VQ screen, & WD screen
300
This is the correct 2 step procedure when a request is received for 100% withholding.
What is verify the taxable amount and call or send letter to client for confirmation. We cannot process without approval from the customer
300
This is not allowed on the SIA products in the first contract year.
What is interest withdrawals
300
This website will help you locate valuable product specific information.
What is 'Product Specifications Webpage'
(Keyword: Annuity Product)
300
When a withdrawal, waiver request and POA document are all received together, this is the proper sequence in which the 3 work items should be processed.
What is POA, Waiver, & Withdrawal?
400
This is the number of days before the bailout window ends
What is 45 days.
400
This status identifies a customer that marked an IGO withholding form 0% and we correctly withheld 30%.
What is a Non-Resident Alien
400
This is when interest is credited on the SIA products
What is once a year on the policy anniversary
400
This is the keword search for accounting forms.
What is Annuity Account
400
This work item and form need to be sent when a customer's resident state changes to a non-mandatory state.
What are withholding form & WITHOLD work item?
500
Of the 3 products affected by the bailout, this is the one that MVA is waived.
What is MarketSmart
500
This form is sent to tax report a Non-Grantor trust without tax deferral.
What is a 1099INT
500
On a policy with an Enhanced Lifetime Benefit Rider, this is the procedure when a request is submitted for a non-compliant withdrawal.
What is call or send a letter to the client for approval to process.
NOTE: This is the process even when the client doesn't indicate the withdrawal is to be taken in accordance with the rider.
500
This life letter located on SCD.
What is 'Gen Adv - Replacement Value Letter'
(Keword search: Annuity Life)
500
This should be your first resource when you have a question.