Redeem (Payout) an Investment
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How to Redeem an Investment (Investment Payout - IL200PAY)
To process an investment payout:
- From the DDI-Connect main menu, double-click Financial Services
- Double-click Investments
- Double-click Transactions
- Double-click 200 Investment Payout. You will see this screen:
- In the Inv # field, type the investment number that you are redeeming. You can also click the list icon to the right of the field to display a list of all investments in the system, or click the binoculars to search for an investment. Click Find or press Enter to continue. The screen will now populate with the information:
The following fields are available on this screen:
| Field | Description |
|---|---|
| Inv # | Displays the investment number you are working with |
| Account | Displays the account number of the investment holder |
| Category | Displays the investment category |
| Type | Displays the investment type |
| Account Information | Displays the account name and address |
| Principal | Displays the current principal of the investment |
| Interest | Displays any interest currently accrued for this investment |
| Total Value | Displays the total value (principal + interest) of the investment |
| Original | Original amount of the investment |
| Purchased | Displays the date the investment was purchased |
| Penalty % | Displays the penalty % to be applied to any payouts |
| Since purch | Number of days between the purchase date and today |
| Apply penalty | If this is selected, the system will calculate the penalty to be applied to the payout |
| Interest method | Click the drop down to select either accrue (accrue interest to investment) or pay (pay interest with the payout) |
| Payment method | Click the drop down to select the method to be used for the payout |
| Principal | Enter the amount of principal to be paid out |
| Remaining prin | If you are paying out less than the entire principal, the Remaining prin field will update to reflect the principal remaining after the payout |
| +Interest | If you elected to pay interest, this field will update with the current accrued interest on the investment |
| -Penalty | If you elected to apply penalty, the penalty amount will be displayed here. If your organization has elected to allow qualified users to override the system calculated penalty, and the user performing the payout meets the required security setting, the penalty amount can be manually overridden. Otherwise, the penalty will be the system calculated amount |
| -Withhold | If your organization is configured to withhold amounts when an investor's social security/tax ID is blank, and the investment you are working with does not have a tax ID, the amount being withheld will be shown here |
| Total Payout | Displays the total payout amount (Principal + Interest - Penalty - Withhold) |
| Taxable | If any portion of the payout is taxable, that amount will be displayed here |
When you have finished entering the information, click Save to retain your changes.
If you click the MODE button, the system will move your cursor from the Principal to the Total Payout field. Enter the total amount being paid out. The system will then automatically calculate the amounts for principal, remaining principal, interest, penalty, etc. based on the other settings you selected.
If you click View while on this screen, you will be taken to the Investment Inquiry screen. Click Exit to return to the Payout screen.
How to Schedule an Investment Withdrawal
If you wish to schedule an Investment Withdrawal, select the Schedule option.
| Field | Description |
|---|---|
| Investment # | Displays the investment number you are working with |
| Account | Displays the account number of the investment holder |
| Investor Information | Displays the account name and address |
| Principal | Displays the current principal of the investment |
| Interest | Displays any interest currently accrued for this investment |
| Total Value | Displays the total value (principal + interest) of the investment |
| Purchased | Displays the date the investment was purchased |
| Penalty % | Displays the penalty % to be applied to any payouts |
| Since purchase | Number of days between the purchase date and today |
| Maturity | Maturity date |
| Requested amount | Requested withdrawal amount |
| Withdraw entire investment balance checkbox | Check this box if withdrawing the entire investment balance, otherwise leave unchecked |
| Frequency | Select the withdrawal frequency from the dropdown |
| Withdrawal date | Select the withdrawal date |
| Apply penalty | If this is selected, the system will calculate the penalty to be applied to the payout |
| Interest method | Click the drop down to select either accrue (accrue interest to investment) or pay (pay interest with the payout) |
| Withdrawal amount | Enter the amount to be paid out |
| +Interest | If you elected to pay interest, this field will update with the current accrued interest on the investment |
| -Penalty | If you elected to apply penalty, the penalty amount will be displayed here. If your organization has elected to allow qualified users to override the system calculated penalty, and the user performing the payout meets the required security setting, the penalty amount can be manually overridden. Otherwise, the penalty will be the system calculated amount |
| -Withholding | If your organization is configured to withhold amounts when an investor's social security/tax ID is blank, and the investment you are working with does not have a tax ID, the amount being withheld will be shown here |
| Payment | Displays the total payout amount (Principal + Interest - Penalty - Withhold) |
| Check payee | Select the check payee from the dropdown |
When you have finished entering the information, click OK to retain your changes.
