What is the Required Minimum Distribution (RMD) for IRA?
RMD is the minimum amount the client must withdraw from their account each year when they have reached the age The client can withdraw more than the minimum required amount Any withdrawals will be included in their income as taxable The RMD applies to Traditional IRA
Can customers ask for withdrawals from there Individual Retirement Account (IRA)?
YES- For all partial withdrawals or distributions, the client must sign the IRA withdrawal form and provide a color copy of their ID DBO will provide these documentations
How do I get into the Customer Service Tool?
Enter your User ID Enter your password Select Log-on The following screen will come up: Login to FIS Authentication Enter your PIN Click on Proceed You will now have 30 seconds to enter the populated code in order to login
What are the terms of an Individual Retirement Account (IRA)?
All IRA paperwork will be provided electronically and must be returned electronically IRAs have different interest rates than Certificate of Deposit (CD) accounts Please see the current rate sheet for current IRA rates The client can renew their existing IRA for a new term The client CANNOT close their existing IRA and open a new […]
What can be seen in the Customer Service Tool?
Anything to do with Bill Pay and/or Zelle (P2P); for example, Payment history Pending requests Payees Bills Blocked activity
Can the CX Team Make Changes in the Customer Service Tool?
No.
Who is accountable for Customer Service Tool tickets?
DBO, but CX representatives are responsible for recording the request.
Can a customer close their Individual retirement account (IRA)?
YES- The client can request to close the IRA and proceed with one of the following closeout options: Quontic can transfer the funds ACH electronically to a checking or savings account Quontic CANNOT transfer or rollover from an IRA into another IRA in a different institution A check will be mailed to the client’s address […]
What to title an individual retirement account ticket?
IB/OLB – IRA – (Type of Service request) – Clients Name For example, IB – IRA – Partial Withdrawal – John Doe
What are the maximum yearly IRA contribution limits?
$6,000 for anyone who is 49 and below $7,000 for anyone who is 50 and older Quontic must follow the IRS website for contribution limits