KEY DATES TO REMEMBER
Systems Deadline for New 2018 Periodic
Distribution Plans Created by NFS: Dec. 26, 2018,
is the last day to establish a new periodic distribution
plan to pay in 2018. Beginning Dec. 27, 2018, NFS
will establish periodic distribution plans for 2019 only.
For customers who request a 2018 payment, we will
process a one-time retirement distribution in addition to
the periodic distribution plan set up to meet the request.
Please note, if your client establishes periodic
instructions for required minimum distributions
(RMD) they agree to a supplemental distribution
(up to the available cash in their account) intended to
ensure the RMD amount is met by Dec. 31. Pershing
will add all scheduled and one-time distributions taken
during the year to determine whether the retirement
account RMD has been met and, if not, issue a
A periodic RMD should not be established with a
payout date of Dec. 31 specifically for the supplemental
payment feature, since the calculated RMD will be
released on this date. One-time, ad-hoc distributions
processed after the periodic RMD instructions were
established do not reduce the RMD payment schedule.
For more information, please review the instructions on
the IRA Distribution Form.
EXECUTING TRADES NEEDED
TO SATISFY A DISTRIBUTION
All trades must settle by Dec. 31, 2018, to be available
for distributions on Dec. 31, 2018 (the last business
day of 2018). Therefore, equity trades must be
executed no later than Dec. 27, 2018. Please take
the different settlement periods for different securities
into consideration when placing trades. Failure to
allow sufficient time for trade settlement may cause
distributions to occur in 2019.
USE ACCOUNT SERVICING
TO ENTER REQUESTS
The Account Servicing Tool is available 24-7 so you can
submit requests online even after business hours. The
Account Servicing Tool can make a major impact on
the amount of time you spend managing your clients’
year-end processing needs and help ensure distribution
requests are processed efficiently. Requests entered
through the Account Servicing Tool will go directly into
our workflow and attached documents will be quickly
directed to the correct area for processing. This will help
ensure your request is processed by Dec. 31, 2018.
Dec. 11, 2018 –
Dec. 31, 2018
All retirement periodic
distribution plan payments
scheduled to be made
between these dates will
be processed in the
Dec. 6, 2018 nightly cycle.
Dec. 14, 2018
Recommended date to
submit distribution requests
to ensure processing by
year end. All requests
received after Dec. 14,
2018, will be processed
on a best effort basis.
Dec. 26, 2018
Last day to establish a new
periodic distribution plan for
a distribution for the 2018
tax year. It is recommended
that all distribution forms to
establish periodic plans be
received by Dec. 14, 2018.
Dec. 27, 2018
Last day to place regular
way settlement trades
to make funds available
for distribution by
Dec. 31, 2018.
Dec. 28, 2018
One-time distributions via
EFT must be processed
by this date to post by
Dec. 31, 2018.
If you have any questions concerning
this information, please contact the
Securities America Rep Relations
Center at 800-747-6111, option 1 or
email the Rep Request group through
the Business Center Web Mail.
4 th QUARTER 2018 | Financial Institutions Newsletter 12