| IRA | Simple | 529 | Non-Ret | Other |
|---|---|---|---|---|
|
Yes, but it should be included 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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IP Signature is required on all the Master plan, and only on the APD Simple IRA applications.
Is the IPs signature required on both a Master plan and a Simple IRA application?
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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?
|
Individual / Joint – Rights of Survivorship/ Joint – Tenants by Entirety
What Non-Ret accounts can be established as TOD?
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The banking instructions can only be added if either they sent in a check that has matching address or if it was received with a notary.
If you received a banking instruction with SH’s madden name vs name listed on the application can this, be added?
|
|
As long as the application is IGO, yes, we would establish
The EPS allocation sheet came in with the wrong fund number can we still establish the account?
BONUS |
ADP/Paychex Simples are set up on PURCHALL, all others are set up in GPurch.
What is the difference from setting up allocations for a regular Simple vs ADP/Paychex Simple?
|
1 they have own app, 2. Need to have Merrill Lunch stamp, and 3. IP restriction should be added to the account.
What three things make Merrill Lynch different from other firms?
|
Yes, if section 10 the voluntary federal tax withholding section is filled out.
Can tax withholding be added to a non-ret account?
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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?
|
|
No call out is needed, the application selection says do not complete a Fidelity Advisor IRA Transfer and Direct Rollover form.
Do we need to make a call the IP if the first option under the Direct Rollover section is checked off (Section 5 Funding Options)?
BONUS |
No, we would us the Company Master plan Number as the cum discount #.
If the SH or the SH spouse already an account with a shared cum discount #, would that cum discount # also be used on the SH’s Simple IRA?
|
Spouse, Other, or Entity
What relationship selections can we used on successor/ contingent successor participant?
|
Fund #/ Check Address (exact as listed on the account registration.)/ Starting check #/ Checkbooks/ Delivery/ and Special Instructions.
What AWD Comments should be added to your MAINT item when ordering checks. (Check writing)?
BONUS |
An ADJUST item should be cloned
What type of item would be created it the initial fundings should have had a prior trade date?
BONUS |
|
No, this request is NIGO.
Can an account be established under MetLife Securities, Inc?
BONUS |
.Tele Ach Purchase- No Tele Ach Redeem - Default (If first banking instructions)
How should the Tele Ach Purchase on the Simple IRA banking be listed?
|
The Participant's SSN
Is the ROA (rights of accumulations) on a 529 based on BENEs or Participants SSN?
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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.
What is the process when Initial Purchase by ACH is not checked, but a dollar amount, and ACH information is provided?
|
|
ADVISOR/PURCH
What type of AWD item will you create if the Initial purchase made by AC box is checked off and all relevant information for the purchase is not provided?
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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 |
False- The state the 529 UGMA/UTMA is under MUST be captured.
T/F The state the 529 UGMA/UTMA is established under should not be captured.
BONUS |
AC (Average Cost)
FIFO (First In First Out) HICO High Cost) LIFO (Last In First Out) LOCO (Low Cost) LGUT (Lost/Gain Utilization)
What are the cost basis options we offer?
|
Class C shares
Money Market funds
What funds cannot be the lead fund(s) on an LOI?
BONUS |
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