Difference between revisions of "Performing an IRA Distribution"
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| + | =='''<span style="color:blue;">Performing an IRA Distribution within DDI-Connect (IL200PAY)</span>'''== | ||
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Within the DDI Connect Investments module, it is easy to perform an IRA distribution. | Within the DDI Connect Investments module, it is easy to perform an IRA distribution. | ||
Revision as of 13:34, 17 October 2011
Performing an IRA Distribution within DDI-Connect (IL200PAY)
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:
