Get the free Alternate Payee Distribution Form

This form is used by alternate payees to request distributions from the City of Seattle Voluntary Deferred Compensation Plan. It outlines the necessary information required for distribution options, payouts, and contact information for further inquiries.

How to fill out alternate payee distribution form

How to fill out alternate payee distribution form

1. Obtain the alternate payee distribution form from the relevant financial institution or agency.
2. Fill out the personal information section, including your full name, address, and contact details.
3. Provide information about the alternate payee, including their name, address, and relationship to you.
4. Specify the type and amount of funds to be distributed to the alternate payee.
5. Include any required documentation or identification for both you and the alternate payee.
6. Review the completed form for accuracy and completeness.
7. Sign and date the form as required.
8. Submit the form to the appropriate agency or financial institution, following any specific submission guidelines they may have.

Who needs alternate payee distribution form?

1. Individuals who are unable to manage their own benefits or payments due to disability or other reasons.
2. Guardians or legal representatives acting on behalf of individuals who require assistance.
3. Beneficiaries of estate settlements who wish to designate an alternate payee.
4. Participants of retirement plans who want to authorize an alternate individual to receive distributions.

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What is alternate payee distribution form?

The alternate payee distribution form is a document used to designate an individual or entity other than the primary account holder to receive payments or benefits from a retirement or pension plan.

Who is required to file alternate payee distribution form?

Typically, the primary account holder of a retirement or pension plan who wishes to assign benefits to an alternate payee, such as a spouse or dependent following a divorce, is required to file this form.

How to fill out alternate payee distribution form?

To fill out the alternate payee distribution form, the primary account holder needs to provide personal information, details about the alternate payee, the amount or percentage of benefits to be distributed, and any relevant identification numbers. It may also require signatures from both parties.

What is the purpose of alternate payee distribution form?

The purpose of the alternate payee distribution form is to ensure that a portion of a retirement or pension benefit can legally be directed to a specified alternate payee, facilitating financial support as agreed upon, often in cases of divorce or separation.

What information must be reported on alternate payee distribution form?

Information that must be reported on the alternate payee distribution form includes the names and contact information of both the primary account holder and the alternate payee, the retirement plan details, the specific distribution amount or percentage, and any necessary identification numbers.