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DISTRIBUTION /DIRECT ROLLOVER/TRANSFER REQUEST 457(b) Plan Refer to the Participant Distribution Instructions while completing this form. Commonwealth of Virginia 457 Deferred Compensation Plan 650271

How to fill out distribution direct rollovertransfer request

How to fill out a distribution direct rollovertransfer request:

1. Obtain the necessary form from your retirement account provider or administrator. This form is typically titled "Distribution Direct Rollover/Transfer Request" or something similar.
2. Provide your personal information, such as your name, address, social security number, and contact information. This is typically the first section of the form and is required for identification purposes.
3. Indicate the type of distribution you are requesting. In this case, select "Direct Rollover/Transfer" as the desired distribution method.
4. Specify the amount or percentage you wish to rollover/transfer. This is the portion of your retirement account balance that you want to move to another eligible retirement account.
5. Provide the details of the receiving retirement account. This includes the account holder's name, account number, and the name of the financial institution or custodian where the account is held.
6. Double-check all the information provided before submitting the form. Ensure that all the sections are completed accurately and legibly. Incomplete or incorrect information may cause delays in processing your request.
7. Attach any additional required documentation, if applicable. Some retirement account providers may require supporting documents, such as a recent statement from the receiving retirement account, to validate the transfer.
8. Sign and date the form. By signing, you certify that the information provided is true and accurate to the best of your knowledge.
9. Submit the completed form to your retirement account provider or administrator. Follow their instructions on how to submit the form, whether it be through mail, fax, or electronically.

Who needs a distribution direct rollovertransfer request?

Individuals who are looking to transfer a portion of their retirement account balance to another eligible retirement account would need a distribution direct rollover/transfer request. This is commonly done when changing jobs or consolidating retirement accounts. It allows for a tax-free movement of the funds from one account to another without incurring penalties or tax liabilities. It is important to consult with a financial advisor or tax professional before initiating a direct rollover/transfer to ensure compliance with IRS regulations and to maximize the benefits of the transaction.

For pdfFiller’s FAQs

What is distribution direct rollover/transfer request?

A distribution direct rollover/transfer request is a formal request made by an individual to transfer funds from one retirement account to another without incurring any tax liabilities.

Who is required to file distribution direct rollover/transfer request?

Individuals who wish to transfer funds from one retirement account to another are required to file a distribution direct rollover/transfer request.

How to fill out distribution direct rollover/transfer request?

To fill out a distribution direct rollover/transfer request, one must provide information about the existing retirement account, the receiving account, and specify the amount to be transferred.

What is the purpose of distribution direct rollover/transfer request?

The purpose of a distribution direct rollover/transfer request is to facilitate the transfer of funds between retirement accounts without incurring tax consequences.

What information must be reported on distribution direct rollover/transfer request?

The distribution direct rollover/transfer request must include details of the existing retirement account, the receiving account, and the amount to be transferred.

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