ReRegister an Investment (All Tax)

Overview of All Tax Designation - IL214

Re-registration is a term DDI uses for the process of taking an existing investment (principal and interest) under a certain master account and moving it to a different master account or multiple accounts. When this is done, there are tax implications as a result of the interest income earned on the investment. If initiating a re-registration, you must consider when the tax liability created by the investment interest changes hands.

All-tax re-registration is appropriate when re-registering a single investment to a new single investment under a different master account. When this is done, Re-register All Tax uses the beginning of the current calendar year as the point when the new master account assumes responsibility for the tax assessed on interest income. Any interest accrued since the beginning of the year is the responsibility of the new master account.

Note: When performing an investment reregister transaction, the new investment will be linked to the same pool as the original investment.

• From the DDI-Connect main menu, double-click Financial Systems

• Double-click Investments

• Double-click Transactions

• Double-click 214 Reregister All Tax. You will see this screen:

• At this point, the Inv # on the ***FROM*** side of the screen is the only active field. In the Inv # field, type the investment that you are re-registering. You can also click the list icon to the right of the field to select from a list of investment, or click the binocular icon to search for an investment. Press enter to continue. The screen will look similar to this:

• The New Account field on the ***TO*** side of the screen is now active. Type the account number of the person or church/organization that you are moving the investment TO. If there is not an existing account, you can click the New Account icon to the right of the New Account field. For information on how to create a new account, please reference this page: Account Entry. Press Enter. You will receive this message:

• If you wish to keep the existing investment number, click Yes. If you wish to assign a new investment number, click No. Once you click the appropriate selection, the screen will now populate:

Review all of the information to be sure that it is correct. If it is, click Save. If the transaction completes properly, you will receive the message "Transaction Successful". Click OK.

The investment has now been transferred.