W-4P Notification |
  
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Navigation: Deposit Screens > Definitions Screen Group > Event Setup Screen >
W-4P Notification |
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This event was designed to meet the regulations on notifying IRA owners of their right to change the withholding on their distributions. If the distributions are quarterly or more frequently, your institution needs to notify the customer annually. If the distributions are less frequently than quarterly, the customer needs to be notified with each distribution but not more than six months before the distribution.
Customer-directed transfer records are read to find retirement distribution frequencies and scheduled distribution dates. This event has an annual run date determined by your institution and entered in the Run Options column (see below) next to the W-4P Notification field.
Event Number: 2010, 2110 (No Mail - See the main Event Setup Screen help for more information on the No Mail Option.)
Event Letter: None
This event has an annual run date determined by your institution and entered in the Run Options column next to the W-4P Notification field. On the annual date, an event record is created for all retirement accounts in Periodic Distribution (DMINPD) with a distribution of quarterly or more frequently. This event also runs at each quarter-end. At this time, an event record is created for frequencies less often than quarterly, if the scheduled distribution is from three to six months in the future. |
