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Lincoln Public Schools Elective 403(b) Retirement Plan Section 403(b) Exchange Request Form Instructions: Use this form if you are transferring to Union Bank & Trust Company (Union Bank), Custodian

How to fill out 403 b exchange request

How to fill out a 403(b) exchange request:

1. Begin by obtaining the necessary form. Contact your employer or the plan administrator to request the specific 403(b) exchange request form. They will provide you with the appropriate document.
2. Review the instructions carefully. Before starting to fill out the form, read through the instructions provided. Understand the requirements, deadlines, and any supporting documentation that may be needed.
3. Provide your personal information. Start by entering your name, address, Social Security number, and other requested personal details. Ensure that all information is accurate and up-to-date.
4. Indicate the current 403(b) account details. Fill in the requested information about your current 403(b) account, such as the account number, account holder's name, and the name of the financial institution or provider holding the account.
5. Specify the new destination account. Enter the details of the designated receiving account for the exchange. This may include the new financial institution or provider, their contact information, and the account number.
6. State the reason for the exchange. Indicate the reason for the 403(b) exchange request, such as a change in employment, an opportunity for better investment options, or any other appropriate reason.
7. Include any additional required information. Some 403(b) exchange requests may have specific requirements or attachments needed. Make sure to review the instructions to determine if any additional documents or explanations are necessary.
8. Sign and date the form. Once you have completed all the necessary sections of the request form, affix your signature and date the document. Ensure your signature matches the name provided earlier in the form.
9. Submit the form. Follow the instructions provided to submit the completed 403(b) exchange request form. This may involve mailing it to the appropriate address or submitting it electronically, depending on the requirements specified.

Who needs a 403(b) exchange request?

A 403(b) exchange request is typically needed by individuals who wish to transfer their retirement savings from one 403(b) account to another. This can be relevant for various reasons, such as changing employers, seeking better investment options, or consolidating retirement savings into a more manageable account.

Those who have a 403(b) account and want to explore different investment opportunities or optimize their retirement savings may benefit from filling out a 403(b) exchange request. It is essential to review the specific plan rules and consider consulting a financial advisor to ensure the exchange aligns with your financial goals and retirement strategy.

For pdfFiller’s FAQs

What is 403 b exchange request?

A 403(b) exchange request is a process where a participant transfers funds from one 403(b) account to another without incurring taxes or penalties.

Who is required to file 403 b exchange request?

Any individual who holds a 403(b) retirement account and wishes to transfer funds to a different 403(b) account is required to file a 403(b) exchange request.

How to fill out 403 b exchange request?

To fill out a 403(b) exchange request, the participant must contact their plan administrator or financial institution to obtain the necessary forms and follow the instructions provided.

What is the purpose of 403 b exchange request?

The purpose of a 403(b) exchange request is to allow participants to transfer funds between 403(b) accounts without taxes or penalties, enabling them to adjust their investments or consolidate accounts.

What information must be reported on 403 b exchange request?

The 403(b) exchange request typically requires information such as the participant's personal details, account numbers of the transferring and receiving accounts, and the amount to be transferred.

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