Rollovers
Is a rollover a taxable event when its made to the institution
NO
What is an acat?
electronic 'handshake' between institutions to send money/ assets electronically
What form do we use to initiate a non acat
Bat form
No has to be the same registration
How should the check made payable to vanguard
Vanguard FBO their name rollover ( rec account number on the check)
3-5 business days
Whats the timeframe on the non acat
20-35 business days
Whats the max amount we can transfer via DRS
500k
What kind of account do we usually incoming rollovers come from?
401k and 403b ( employer plans )
what tool do we use to see if we can hold the funds of other institutions?
Fisd or search it on vanguard tool
Annuties need to be within what window to be moved over
18-30 days
What additional security does a client need to go through for DRS
VV or OTP
What tool do we use to generate a LOA for a rollover
external rollover tool
What are the options a client has when we cant hold the assets?
sell the assets and bring it over as cash or keep the assets at the firm
What happens if the names are different between institutions?
We need a one and the same form or name change
Where do we create the formless case
dynamics and then bpm or specialty case in BPM
inherit first or on an exception based
How long do we sweep dividends after the transfer
up to 6 months
How would a client get a Vanguard signature Guarantee to sign their transfer ppwrk
they would need to send us the transfer ppwrk and we will send it to the institution
whats the timeframe on fromless drs
3-7 business days