| Simple | IRA | 529 | Non-Ret | Other |
|---|---|---|---|---|
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What is F- Signature is only required on the Master plan. Bonus: ADP simple apps require IP signature.
T/F The IPs signature is required on both a Master plan and a Simple app? Bonus what firm is the exception to the Simple plan?
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Yes, but should be include it as part of the beneficiary's last name.
If a suffix such as Jr. or Sr. is provided in the BENE section can this be added?
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he Beneficiary, as long as they are at least 18 and a U.S. resident
DOB is not required information. If the DOB is provided, verify they are at least 18.
Can a 529 BENE also be a successor participant?
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Individual / Joint – Rights of Survivorship/ Joint – Tenants by Entirety
What accounts can have a TOD added?
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F- Do NOT update the email address. The email address can only be updated by the client by logging in to accounts.fidelity.com and updating their eDeliver settings.
T/ F - If SH already has an existing account both in SC and online access would we update the email address if another one is provided?
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Simple plan allocations are established on Gpurch and ADP/Paychex are set up on Purchall.
What is the difference from setting up allocations for a regular Simple to a ADP/Paychex Simple?
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Matrix Level 4
What Matrix level is an account with a BIN updated to?
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One Participant per account.
How many participants can you have on a 529 plan?
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yes, if section 10 the voluntary tax withholding is filled out.
Can tax withholding be added to a non-ret account?
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T- As long as same rep and same issue only one DBRMaint needed per scan.
T/F A DBRMaint item is created per account, not per scan?
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No, we would us the Company Master plan Number.
If SH or SH spouse already has a cum discount # do, we us this on a Simple?
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IRA when standing allocations is checked off.
Bonus 529 when allocation is entered in %, not ret when % is listed behind allocation or on total section.
When is standing allocations added to a IRA? Bonus 529/ and Non-Ret?
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Spouse or Other
What two relationship selections can we used on successor/ contingent successor participant?
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BENEs then custodians
Whose information goes first on a UTMA/ UGMA?
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F- As long as can find fund on scan we can establish with that fund.
T/F - If not fund is selected, but a fund has been listed in sys investment, this would still be NIGO.
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Tele Ach Purchase- No Tele Ach Redeem - Default
How should the Tele Ach Purchase on the banking be listed on a simple plan?
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T- SEP IRA owners cannot authorize activity to or from their employer's bank account.
T/F -For A SEP, the employer's bank acct cannot be added from the employee application, even with a notarized signature.
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Participant
Is the 529 ROA (rights of accumulations) based on BENE or Participant?
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058
Treasury Fund - Daily Money Class 084 Tax-Exempt Fund - Daily Money Class 2740 Fidelity Government Money Market Fund - Daily Money Class 3018 Fidelity Government Money Market Fund - Class M
What fund(s) can check writing option be added to?
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Call the IP to clarify or obtain the required information by phone or fax. This would be NIGO.
What is the process when Initial Purchase by ACH is not checked, a dollar amount, and ACH information is provided?
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0000001
What code is entered in the FAN PLAN SPONSOR WEB PROFILE ID field in GPURCH?
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ADVISOR/PURCH
What type of AWD item will you create if the “Initial purchase made by ACH…” box is checked off and all relevant information for the purchase is provided?
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If an address is provided for the Successor/Contingent Successor Participant, do not add in this field, instead refer to the following:
If an address is provided that is different from the Participant, and a duplicate mailing option Is checked, then follow the Statements Third Party/Interested Party and Confirmations Third Party/Additional Mail procedures. Bonus: Participant
Do we add Successor/ Contingent successor participant’s address if provided?
Bonus is the relationship based on Participant or BENE? |
AC (Average Cost)
FIFO (First In First Out) HICO (High Cost) LIFO (Last In First Out) LOCO (Low Cost) LGUT (Loss/Gain Utilization)
What are the cost basis options we offer?
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The following share class/fund(s) Cannot be the sole or lead fund:
• Class C shares • Money Market funds Bonus: No we would add LOI to all SH /SH spouses account.
What funds cannot be the lead fund(s) on an LOI? Bonus T or F the LOI is only added to the SHs account not the SHs spouse account?
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