Transcription of Fully-Administered IRAdirect User Guide
1 1 IRAdirect User Guide Fully-Administered Program 2 It is understood that the publisher is not engaged in rendering legal or accounting services. Every effort has been made to ensure the accuracy of the material presented within the manual. But retirement plan forms, government regulatory positions, and laws are subject to change, so we cannot guarantee the accuracy of the material. The material in this manual reflects the law and regulatory interpretations as of the publication date of September 2021. Much of the information contained in this manual is based on the operation of the financial organizations to which we provide services. Some of your procedures may vary if your organization is not a member organization served by us.
2 Ascensus makes no representations regarding compliance of the manual with any state laws, state regulations, or federal securities law. 2023 Ascensus, LLC. All Rights Reserved. This material may not be reproduced in whole or in part in any form or means without written permission from the publisher. Printed in the United States of America. Ascensus and the Ascensus logo are registered trademarks of Ascensus, LLC. IRAdirect , Retirement Central , and Simplifier are registered trademarks of Ascensus, LLC. Microsoft , Internet Explorer , and Microsoft Edge are either registered trademarks or trademarks of Microsoft Corporation in the United States and/or other countries. Google Chrome is a trademark of Google Inc.
3 Use of this trademark is subject to Google Permissions. Firefox is a trademark of the Mozilla Foundation in the United States and/or other countries. Adobe Reader is either a registered trademark or trademark of Adobe Systems Incorporated in the United States and/or other countries. 3 TABLE OF CONTENTS GETTING STARTED .. 11 Supported Browsers .. 11 Enabling Cookies .. 11 Plug-In Requirements .. 11 INTRODUCTION .. 12 Our Role .. 12 Your Responsibility .. 12 System Availability .. 12 NAVIGATION .. 13 IRAdirect Home Link and Breadcrumbs .. 14 Financial Organization Identification .. 14 Search .. 14 Main Body .. 15 Pending Action Reminders .. 15 User Identification and Logout .. 15 Calendar .. 16 The Link Newsletter .. 17 eResource Center.
4 18 Frequently Asked Questions .. 19 Contact Us .. 20 User Guide & Manuals .. 20 IRAdirect Training 21 FORMS .. 22 Application .. 22 Completing the Form Wizard .. 22 4 Signing the Form .. 27 Printing and Saving the Form .. 28 Beneficiary Designation/Change .. 29 Completing the Form Wizard .. 29 Printing and Saving the Form .. 33 Change Notice .. 34 Completing the Form Wizard .. 34 Printing and Saving the Form .. 36 Contribution .. 37 Completing the Form Wizard .. 37 Printing and Saving the Form .. 41 Death Notice .. 42 Completing the Form Wizard .. 43 Saving and Submitting the Form .. 62 Direct Transfer Instructions Request .. 64 Completing the Form Wizard .. 64 Printing and Saving the Form .. 68 Incoming Beneficiary Scheduled Payment Election.
5 69 Completing the Form Wizard .. 73 Signing the Form .. 80 Printing and Saving the Form .. 81 Traditional IRA Scheduled Payment Election .. 82 Completing the Form Wizard .. 82 Entering Data for Owner of RMD Age .. 83 Entering Data for Owner of Pre-RMD Age .. 85 Printing and Saving the Form .. 87 Traditional IRA Scheduled Payment Change .. 88 Completing the Form Wizard .. 88 Printing and Saving the Form .. 91 Withdrawal .. 93 5 Completing the Form Wizard .. 93 Printing and Saving the Form .. 97 Conversions With Withholding .. 98 Electronic 101 Electronically Signing Documents .. 103 Attaching Additional Documents .. 111 Archiving Signed Documents .. 114 Remote eSign .. 116 Blank Forms .. 119 Getting Started .. 120 Saving Forms .. 122 CALCULATORS.
6 123 Financial Disclosure .. 123 Instructions .. 124 Income Attributable .. 126 RMD Projector .. 129 REPORTS AND QUEUES .. 131 General and Ad Hoc 131 Account Owner List .. 132 Fair Market Value .. 134 Contributions .. 136 Withdrawals .. 138 Death Claim Status Report .. 141 User Activity Report .. 142 Scheduled Payment List .. 143 Scheduled Payment Distribution Report (historical) .. 146 Withholding Notice Mailing Organization .. 148 Withholding Notice Mailing Account Owner .. 148 FMV & 5498 Online Wizard Reports .. 148 RMD Scheduled Payment Status Report .. 149 6 Tax Reporting Summaries .. 151 1099 Verification Reports .. 151 Information Reports .. 152 1099-R Totals Report .. 153 Replacement Notifications .. 154 Sample IRA Owner Notifications.
7 154 Billing Report .. 155 Approve Forms From General Users .. 156 Instructions .. 157 Approve Forms From Owners .. 161 View Pending 161 View Remote Signature Requests .. 165 MAINTENANCE TOOLS .. 166 Investment Maintenance .. 166 Instructions .. 166 Adding an Investment .. 167 Changing the Investment Terms .. 169 Changing an Investment .. 169 Deleting an Investment .. 170 Viewing the Investment Table .. 170 Transfer Files .. 171 General Upload .. 171 General Download .. 174 My Services .. 175 IRA Withholding Notice Mailing .. 176 Account Maintenance File Upload/Errors .. 178 File Upload .. 178 File Errors .. 183 TAX REPORTING .. 193 7 Tax Reporting Home .. 193 Upload Tax Files .. 194 Errors .. 198 Warnings .. 200 eTax Owner and State Copies Home.
8 201 FINANCIAL ORGANIZATION INFORMATION .. 202 Overview .. 202 Programs .. 202 Details .. 203 General .. 204 Details .. 204 Contacts .. 206 Details .. 207 Address .. 209 Details .. 210 Reporting .. 211 Details .. 212 Summary .. 215 Details .. 215 OWNER INFORMATION .. 217 Account Owner General Information .. 219 Details .. 219 Creating Accounts and Deleting Owners .. 220 Comments .. 221 Reading Comments .. 222 Entering and Saving Comments .. 222 Primary Categories .. 222 Secondary Categories .. 222 Record Retention .. 223 8 ACCOUNT INFORMATION .. 224 Account .. 224 Instructions .. 224 Account Info .. 224 Traditional IRA Info .. 225 Reporting Options .. 225 Create Contribution .. 225 Create Withdrawal .. 226 Delete Account .. 226 Beneficiaries.
9 227 Scheduled Payment Election .. 228 Details .. 229 Scheduled Payment Calculation .. 230 FMV .. 231 Dates .. 231 Prior Balances .. 232 Current Balances .. 232 Current Hard-To-Value Assets .. 232 Making Corrections .. 234 Withdrawal .. 235 Creating a Withdrawal .. 236 Viewing a Withdrawal Under the Withdrawal Details Link .. 238 Deleting a Withdrawal Under the Withdrawal Details Link .. 240 Correcting a Withdrawal Under the Withdrawal Details Link .. 243 1099 Summary Link .. 245 Correcting/Adding a Withdrawal Under the 1099 Summary Link .. 246 Contribution .. 248 Creating a Contribution .. 249 Deleting a Contribution .. 251 Correcting a Contribution .. 253 9 Annual Contribution Roll Up .. 254 Death Claim .. 255 Claim Status .. 256 Beneficiaries.
10 257 TAX FORMS .. 258 FMV/RMD Statement .. 258 Navigation .. 260 Details .. 260 Correcting FMV/RMD Statements .. 260 Duplicate FMV/RMD Statements .. 261 Printing a Duplicate FMV/RMD Statement at Your Financial Organization .. 261 Requesting a Duplicate FMV/RMD Statement for the Account Owner .. 262 1099-R Form .. 263 Navigation .. 263 Correcting Forms 1099-R .. 264 Duplicate Tax Forms .. 264 Printing a Duplicate Tax Form at Your Financial Organization .. 264 Requesting a Duplicate Tax Form for the Account Owner .. 265 1099-Q Form .. 266 Navigation .. 266 Correcting Forms 1099-Q .. 267 Duplicate Tax Forms .. 267 Printing a Duplicate Tax Form at Your Financial Organization .. 267 Requesting a Duplicate Tax Form for the Designated Beneficiary.
