Seventy and One-Half Report (FPSDR065) |
  
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Seventy and One-Half Report (FPSDR065) |
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Availability
This report is generally run monthly in the afterhours. Consult your customer service representative if you want to schedule this report differently.
Purpose
The Seventy and One-Half Report lists deposit retirement account holders who will reach the age of 70½ in the upcoming report cycle. These account holders are required to begin taking disbursements from their retirement accounts.
The report cycle is variable, based on options that are set on the report. Report options available are:
•Specific from and to dates for account holders who will reach the age of 70 ½ can be requested.
•Annual, bi-annual, quarterly, and monthly options can be used to forecast owners turning 70 ½ years old in the next year, next six months, etc. based on the run date. For example, if the run date is December 31, 1998 and you request an annual report, it will forecast to December 31, 1999.
A warning will be printed on the report if a retirement account has no name and address associated with it, or if the account holder's birthday is unknown.
The report will allow sorting by branch, birth date, account number, and Social Security number. The report will also sort by plan number within households.
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GOLDPoint Systems Only: For specific date ranges, enter both beginning and ending dates in the misc parm field (e.g., 1998010119990101).
For reports based on periods, mark the miscellaneous options as:
1 = annual 2 = bi-annual 3 = quarterly 4 = monthly
The period must coincide with the run date. |
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Report Column Information
See FPSDR065 Example for an example of this report.
Column |
Description |
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Account Number |
This is the office number (DMACTO), account number (DMACTA), and check digit (DMCKDG) for the account. |
Household # |
This is the household number in which this account resides taken from the CIF System (MNHHLD). |
Birth date |
This is the birth date of the account holder, taken from the CIF System. |
Age |
This is the current age of the account holder. |
Account Short Name |
This is the short name of the IRS owner of the account, taken from the CIF System. |
Social Sec # |
This is the Social Security number on the account, taken from the CIF System. |
Phone Number |
This is the phone number on the account holder, taken from the CIF System. |
Current Balance |
This is the current balance of the account taken from the Current Balance field (DMCRBL) on the Deposit Master Fields screen (function 1/2). |
Special Messages |
This column will contain any messages that the system needs to relay to you, such as "RET ACCT W/NO BIRTH DATE" when it encounters a retirement account where the birth date of the account owner is unknown. |
Totals and Subtotals Provided
Subtotals are provided by office number for the following:
•Total number of accounts
•Total number of bad accounts
•Total amount of current balances on accounts
If other subtotals are desired, consult your customer service representative. Institution totals are also provided for the subtotals listed above.
