| IRAs | 529 | Simple | Non-Ret | Other |
|---|---|---|---|---|
|
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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Yes, if the Beneficiary is 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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F- Signature is only required on the Master plan.
T/F The IPs signature is required on both a Master plan and a Simple app?
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Individual / Joint – Rights of Survivorship/ Joint – Tenants by Entirety
What accounts can have a TOD added?
|
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?
|
|
Matrix Level 4
What Matrix level is an account with a BIN updated to?
|
1 Participant per account.
How many participants can you have on a 529 plan?
|
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 vs ADP/Paychex Simple?
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Yes, if section 10 the voluntary federal tax withholding section is filled out.
Can tax withholding be added to a non-ret account? BONUS
|
F- 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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IRA when standing allocations is checked off.
When is standing allocations added to an IRA? Bonus
|
Spouse or Other
What two relationship selections can we used on successor/ contingent successor participant?
|
No, we would us the Company Master plan Number.
If SH or SH spouse already has a cum discount # do, would this cum discount # also be used on their Simple?
|
BENEs then custodians
Whose information goes first on a UTMA/ UGMA?
|
.F- As long as can find fund on scan we can establish with that fund.
T/F - If no fund is selected, but a fund has been listed in sys investment, we cannot use this fund.
|
|
No, this request is NIGO.
Can an account be established under MetLife Securities, Inc? BONUS
|
Participant
Is the 529 ROA (rights of accumulations) based on BENE or Participant?
|
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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False- We would need information provided for all owners
T/F If the account is a joint account and only one mobile/ email address was provided the application, we can use the same info on all users.
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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, but a dollar amount, and ACH information is provided?
|
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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 not provided?
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False- The state the 529 UGMA/UTMA is under MUST be captured.
T/F The state the 529 UGMA/UTMA is under should not be captured. BONUS
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False- This would be NIGO. This is listed as required fields on the Adoption Agreement
T/F- If no plan contact is listed on a Master plan the request is not NIGO? BONUS:
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Average Cost
First In First Out High Cost Last In First Out Low Cost 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
What funds cannot be the lead fund(s) on an LOI? BONUS
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