Retirement Accounts
If a retirement account is being transferred to BLK from another firm, which firm's transfer paperwork is used?
Other firms (account would need to be opened on our side if it doesn't already exist)
what two type of non-retirement account registrations can have TOD designations added to them?
Individual and joint tenant
What form is sued to add a power of attorney to an account?
Power of Attorney Registration Form
What is the dollar limit for placing a telephone redemption by check?
$100,000
How much is the annual maintenance fee on IRAs?
$15
What is the holding period for a SIMPLE IRA before it can be rolled over or withdrawn without penalty?
Two years
If a minor on a UTMA account calls in before they reach age of majority - can we give them any account information?
We can give them a balance since the account is open under their SSN and explain the process for claiming the account when they become of age
Can a form that has been notarized with a raised seal be faxed/emailed to us?
No, must be mailed in
What is the dollar limit for placing trades online?
$25,000
How long to Class C share take to automatically convert to A shares?
Eight years
What tax form reports dividend/capital gain distributions for retirement accounts?
None since not a taxable event in IRAs
what happens to the account when both signers on a JT TEN account pass away?
Goes to the estate of the surviving spouse
What form is used to add beneficiaries to a non-retirement account?
TOD Registration Form
Can a financial transaction request be notarized?
No
What tax form is used for reporting cost basis?
1099-B
What is the annual contribution limit for IRAs for shareholders age 50+?
$7,000
What paperwork do we need to see who the authorized signers are on a corporate account?
Corporate resolution
What form is used when a minor wants to put their UTMA account into their own name after they reach age of majority
Change of Registration Form
How long is the pre-note period when adding/updating bank instructions for redemptions
10 days
If a s/h emails you directly with a question, can you respond to it?
No, you can only copy/past the generic reply correspondence disclaimer and send that to have them call in to the service center
What can we send to the shareholder if they missed the 60-day rollover deadline?
IRA Self-Certification Late Rollover Form
What paperwork is needed if someone has been named to handle a deceased s/h's estate?
Letters testamentary/appointment of personal representative
What Form is used when an IRA s/h wants to start taking their RMD?
IRA Systematic Distribution Request Form
If a shareholder calls in requesting a check be sent o/n mail, do they receive it the very next day?
No, it is mailed the next business day and they receive it the following day
what is the three-date cycle for fund distributions known as?
Record date, ex-date, pay date