Performing an IRA Distribution
Revision as of 19:53, 27 September 2011 by Smiller (talk | contribs) (→Performing an IRA Distribution)
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: