Difference between revisions of "Performing an IRA Distribution"
Jump to navigation
Jump to search
| Line 9: | Line 9: | ||
* Select Investment Payout. You will see this screen: | * Select Investment Payout. You will see this screen: | ||
<br> | <br> | ||
| − | + | [[File:Investment Payout 1.jpg]] | |
<br> | <br> | ||
* In the Inv # field, type the number of the investment that you are doing the payout for, and either click Find or press enter. The screen will populate with the investment's information: | * In the Inv # field, type the number of the investment that you are doing the payout for, and either click Find or press enter. The screen will populate with the investment's information: | ||
<br> | <br> | ||
| + | [[File:Investment Payout 1_1.jpg]] | ||
| + | <br> | ||
| + | * Select your interest method | ||
| + | * Select your payment method | ||
| + | * Check "Apply penalty" if needed | ||
| + | * In the Principal feild, enter the amount of the payout | ||
| + | * Click Save. You will see this message (if you are not doing the entire balance as a payout): | ||
| + | <br> | ||
| + | [[File:Investment Payout 3.jpg]] | ||
| + | <br> | ||
| + | * Click Yes to proceed | ||
| + | * You will then get a pop up for the Tax Year IRA Disbursement: | ||
| + | <br> | ||
| + | [[File:Investment Payout 4.jpg]] | ||
| + | <br> | ||
| + | * Select the appropriate distribution code | ||
| + | * If you need to adjust the gross distributions, taxable amount or federal withholding, you can do so now | ||
| + | * Click OK | ||
| + | * The system will now display this message: | ||
| + | <br> | ||
| + | [[File:Investment Payout 5.jpg]] | ||
| − | |||
Revision as of 19:53, 27 September 2011
Performing an IRA Distribution
Within the DDI Connect Investments module, it is easy to perform an IRA distribution.
- Go to Financial Services
- Select Investments
- Select Transactions
- Select Investment Payout. You will see this screen:
- In the Inv # field, type the number of the investment that you are doing the payout for, and either click Find or press enter. The screen will populate with the investment's information:
File:Investment Payout 1 1.jpg
- Select your interest method
- Select your payment method
- Check "Apply penalty" if needed
- In the Principal feild, enter the amount of the payout
- Click Save. You will see this message (if you are not doing the entire balance as a payout):
- Click Yes to proceed
- You will then get a pop up for the Tax Year IRA Disbursement:
- Select the appropriate distribution code
- If you need to adjust the gross distributions, taxable amount or federal withholding, you can do so now
- Click OK
- The system will now display this message:
