| T.R | Title | User | Personal
Name | Date | Lines |
|---|
| 9.1 | Documentation Required | ULTRA::HU | | Wed Apr 29 1987 14:06 | 21 |
| I was told by the benefits administrator at Honeywell (Bull) in
Billerica that the pre-tax plan is indeed a 401(k) plan.
The SAVE Plan administrator of Digital said that they need a letter
from the Honeywell's Pension Administrator stating:
1) that distribution came from a 401(k) plan.
2) that you received 100% of the value of the plan.
3) the date the funds were distributed to you.
4) the amount distributed and eligible for rollover.
I was told that the person to write to at Honeywell is:
Pam Kennedy
Honeywell, MN12-4169
Honeywell Plaza
Minneapolis, MN 55408-1792.
I have not done this yet. So do not know if this will actually
work out well.
Does anyone know of an easier way?
|
| 9.2 | no questions asked... | NAC::BENSON | DTN 226-5157 | Wed Apr 29 1987 17:35 | 9 |
| Yes,
I went through the same process of finding out the degree of
documentation required by the DIGITAL Save plan. I must admit,
I didn't have the faith in a prompt reply from Honeywell benefits
admin. and so rolled it into an IRA. Most financial service
organizations don't require any documentation (they put all the
burden on you - if the IRS ever asks). I happened to use Dean Witter
- they ask no questions....
dave.
|
| 9.3 | It can be done | DOSADI::OKEEFE | | Wed Jul 29 1987 14:38 | 18 |
| You can roll over your Honeywell 401K to the Digital SAVE plan.
I contacted Digital Investor Services at DTN 223-3191 for instructions.
I initiated the rollover prior to receiving the distribution of
funds. I also rolled my ERSOP into a IRA with the CU to avoid current
taxation (more paperwork.)
The 401K steps are:
1. Contact investor services for requirements.
2. Request from Honeywell the needed documentation.
3. Submit documentation to investor services and wait for approval.
4. Send funds to investor services at date specified by them.
This rollover process cannot exceed 60 days from initial distribution.
Good Luck and have patience!
|
| 9.4 | Beware, the IRSman cometh! | HYEND::NDEPLEDGE | | Thu Jan 28 1988 13:50 | 14 |
| I rolled over my Honeywell 401(k) distribution to a Merril Lynch
retirement account when I left for the first time in 1983. Honewell
took about 4 months to make the payment, and I held the cash about
55 days before paying a check into the new account. I was audited
by the IRS two years later, who claimed that they had no record
of the second transaction. The broker was not required to inform
them (though there may be a rule now that they they must do this).
I satisfied the IRS by sending a photo copy of the canceled check
and the brokerage account. You may save yourself a lot of fuss
and bother if you send this evidence in with your tax return in
the first place.
Incidentally, I left HB again four months ago and I am still waiting
to hear from them. Here we go again!
Norman
|