Distribution and Loans
Request a Distribution or Loan
Processing distributions and loans from the plan is more than just filling out a few forms. The payment of funds from a plan is normally restricted to very limited "events", such as retirement, death, disability, or termination of employment. Qualified retirement plan distributions and loans are subject to strict IRS regulations. As part of our services, CBA will make sure that the distribution or loan is processed correctly and in compliance with IRS rules.
Whether you're the plan sponsor, employee, or beneficiary of a deceased employee, our Distribution Specialists work one-on-one with you to help you understand the rules and options available. We review your company's actual plan document to determine if distributions are allowed, or whether loans are permitted by the plan. We then provide the forms and disclosures that are necessary to initiate the distribution or loan. This includes the tax notice for distributions, and the promissory note and amortization schedule for loans. When appropriate, the distribution paperwork we provide is specific to the investment company for your plan. We also work with the investment company to coordinate tax withholding and reporting.
All of this is part of the compliance oversight we provide to make the distribution and loan process easier for you and your employees.
Processing distributions and loans from the plan is more than just filling out a few forms. The payment of funds from a plan is normally restricted to very limited "events", such as retirement, death, disability, or termination of employment. Qualified retirement plan distributions and loans are subject to strict IRS regulations. As part of our services, CBA will make sure that the distribution or loan is processed correctly and in compliance with IRS rules.
Whether you're the plan sponsor, employee, or beneficiary of a deceased employee, our Distribution Specialists work one-on-one with you to help you understand the rules and options available. We review your company's actual plan document to determine if distributions are allowed, or whether loans are permitted by the plan. We then provide the forms and disclosures that are necessary to initiate the distribution or loan. This includes the tax notice for distributions, and the promissory note and amortization schedule for loans. When appropriate, the distribution paperwork we provide is specific to the investment company for your plan. We also work with the investment company to coordinate tax withholding and reporting.
All of this is part of the compliance oversight we provide to make the distribution and loan process easier for you and your employees.