WithdraWal request/surrender For VoYa indiVidual annuitY ...
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Withdrawal request/surrender For VOYA Individual Annuity Accounts
Voya Retirement Insurance and Annuity Company Voya Institutional Trust Company, Custodian ("the Company") Members of the Voya? family of companies Central Rollover/Payout Services Department PO Box 990063, Hartford, CT 06199-0063 Phone: 800-262-3862 Fax: 800-643-8143
Good order
Good order is receipt at our designated location of this form and any other required information or documents that have been accurately and entirely completed, and includes all appropriate signatures in the designated areas. Forms and any other requested information not received in good order as determined by us may be returned to you for correction and processed upon re-submission in good order at our designated location.
Terms and conditions
You should consult with your tax advisor prior to taking any distributions to determine applicable premature distribution penalties. We are required to report all disbursements to the Internal Revenue Service (IRS).
The undersigned warrants that no insolvency or bankruptcy proceedings are pending against this contract or against any interest of the undersigned therein. It is further acknowledged that our furnishing of this form does not constitute an admission that there is any contract in force.
Surrenders
Fees (e.g., administrative fees, early withdrawal, and/or surrender fees) may be applicable. Please refer to the prospectus or call our Customer Service Center for details. When a deferred sales charge is applicable, the free withdrawal amount will be based upon the account valuation calculation appropriate to your contract, following receipt by Customer Service Center. The amount of this charge will be adjusted for amounts already received and/or for amount(s) requested for distribution during the account year through the election of a Systematic Distribution Option. In the case of partial surrenders, applicable fees will be deducted from the remaining balance of the account, and the check will be for the amount requested less any withholding for federal or state income taxes.
1. CONTRACT/ACCOUNT OWNER information Owner Name (last, first, middle initial)
SSN (Required)
Daytime Phone
Home Phone
E-mail Address
Plan #
Joint Owner Name (If applicable.)
SSN/TIN
Insured/Annuitant Name (If different than owner.)
SSN/TIN
2. Surrenders (Surrenders may be subject to a deferred sales charge.)
Total Surrender
Partial Surrender
Amount Available Free of Deferred Sales Charge
Percent of Contract Value
%
Specific Dollar Amount $
Required Minimum Distribution (RMD)
Withdraw specified dollar amount $
Calculate RMD ? Include previous year-end balance if in first year of contract $
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Order #144325 12/30/2018 TM: PAYOUTSRVS/DISTRIB
3. Distribution information
Amounts will be taken pro rata from each investment option in the same proportion as their respective values have to the total value of the account. If, however, you wish to have your partial surrender from a specific investment option, you may do so by specifying in the space provided here. Percentages indicated must be rounded to the nearest 1%. Details regarding your investments can be obtained from your quarterly statement.
Variable/Fixed Investment Options
Variable/Fixed Investment Options
Fund Name/Number
Amount/%
Fund Name/Number
Amount/%
Fixed Account
4. Reason for distribution (Please choose one. Deferred sales charge may be applied. Please refer to prospectus for details.)
Premature Distribution (taxpayer has not reached age 59?) Direct Rollover/Transfer (Please complete section 5.)
Normal Distribution (taxpayer is at least age 59?)
Recharacterization
Excess Contributions Plus Earnings: IRA Only
Other (describe)
Please state tax year
(Voya will calculate the
earnings on excess contributions for non-custodial owned
Traditional and Roth IRA's.)
Employer Contribution (Only for use with clients in a SEP IRA or in plan #666994)
Employee Contribution (Only for use with clients in a SEP IRA or in plan #666994)
5. ROLLOVER/TRANSFER OPTIONS c Direct Rollover to a Non-Voya Roth IRA c Direct Rollover/Transfer to a Non-Voya Account.
The following items must be submitted: ? A Letter of Acceptance from the recipient institution. ? An Absolute Assignment from the recipient institution, if the funds are Non-Qualified (1035 Exchange). c Direct Rollover to a Voya Traditional IRA c Direct Rollover to a Voya Roth IRA c Direct Rollover/Transfer to a Voya Qualified Plan:
If choosing a direct rollover to a Voya account, please select destination account(s) below:
c Voya express Mutual Fund c Voya express VA c Voya express Fixed Annuity c Voya Renuity c Voya SPIA
c Voya Select Advantage c Voya choice IRA c Voya Select Rate c Voya Select Opportunities c Voya Indexed Annuity
c Voya Advisor/Brokerage Account c Voya Funds c Voya Premier Products c Other _______________________
NOTE: For rollovers to a Voya account the withdrawal request will not be processed until the new account application is received.
6. Payment INFORMATION
Please indicate to whom your distribution should be made payable. If you have chosen a Direct Transfer, Rollover, 1035 Exchange, please complete and attach a State Replacement form, if applicable. In addition, also include:
? A Letter of Acceptance from the recipient institution, if the funds are Qualified. ? An Absolute Assignment from the recipient institution, if the funds are Non-Qualified (1035 Exchange).
Payee
SSN
Address (#, street, PO Box)
City/Town
State
ZIP
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Order #144325 12/30/2018 TM: PAYOUTSRVS/DISTRIB
7. ELECTRONIC FUND TRANSFER (Choosing this option will result in more timely access to your funds.)
By completing this section, I authorize Voya to initiate an electronic funds transfer (EFT). Take advantage of a convenient method to have your distribution electronically deposited into your bank account. The electronic deposit is immediately available for use once the transfer is completed. The Company does not charge you for this service. The payment is typically completed within 3-4 business days.
Please verify the correct ABA routing number with your bank. If the electronic deposit cannot be completed using the information provided below, we will issue and mail a check to the Participant.
The EFT information must be clear and complete. If we are unable to read the instructions, in order to expedite the request, the payment will be made by check.
? EFT will not deposit to a third party account. ? EFT cannot be made outside of the U.S. Please indicate whether this is a c Checking or c Savings Account
Account Holder(s) as it is registered at your bank
Bank Name
Bank Phone
Bank Address (# and street)
City/Town
State
ZIP
ABA Routing # (9 digits, verify with your bank)
Bank Account #
8. If VOYA has questions regarding this withdrawal request
Please Contact:
Name
Phone
E-mail Address
9. Tax Withholding
Federal Withholding
Regardless of whether or not federal or state income tax is withheld, you are liable for taxes on the taxable portion of the payment. If you do not have a sufficient amount withheld, you may be subject to tax penalties under the Estimated Tax Payment rules. An election made for a single non-recurring distribution applies only to the payment for which it is being made. For recurring payments, your withholding election will remain in effect until it is changed or revoked. You may change or revoke your election at any time prior to a payment being made by submitting IRS form W-4P. U.S. persons having their payment delivered outside the U.S. or its possessions may not make an election of NO withholding. In this case, if you choose no withholding, the default rate will be applied. Non-resident aliens are subject to a mandatory 30% withholding rate unless they are eligible for a reduced rate or exemption under a tax treaty and the required documentation is submitted.
Eligible rollover distribution ? 20% withholding: (See the attached Special Tax Notice.) Distributions you receive from qualified pension or annuity plans that are eligible to be rolled over tax free to an IRA or another qualified plan are subject to a flat 20% federal withholding rate. The 20% withholding rate is required, and you cannot choose not to have income tax withheld from eligible rollover distributions. You may elect withholding in excess of the mandatory 20% rate.
Non-periodic payments ? 10% withholding: Non-periodic, non-rollover eligible payments from pensions, annuities, IRA's and life insurance contracts are subject to a flat 10% federal withholding rate unless you choose not to have federal income tax withheld. These include for example, required minimum distributions, hardship withdrawals, and distributions from IRA's that are payable on demand. You can choose not to have withholding applied to your non-periodic distribution by checking the applicable box below. You may also elect withholding in excess of the flat 10% rate.
Federal Withholding Instructions: DO NOT withhold any federal income tax unless mandated by law DO withhold federal taxes
Additional amount you want withheld from your payment(s) $ the standard federal withholding rate applicable to your distribution.)
or
% (Note: This amount is in addition to
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Order #144325 12/30/2018 TM: PAYOUTSRVS/DISTRIB
9. Tax Withholding (Continued) State Withholding Instructions:
Resident state for tax purposes:
(If your current physical and/or mailing address is
outside of your state of legal residence for tax purposes, please enter your tax state here. If no U.S. state or territory is on
record and one is not specified, we will presume this income is not reportable to any U.S. state or territory.)
c DO NOT withhold any state income tax unless mandated by law.
c DO withhold state taxes in the amount of $
or
% (If you make this election, a dollar amount or
percentage must be specified and cannot be less than any required withholding.)
If you do not make an election or if your state requires a greater amount of withholding, we will withhold at the rate specified by your state of residence for the type of payment you are receiving. In some cases, your state specific withholding election form is required to opt out of withholding or to choose a rate other than the state's default rate. Refer to the attached State Income Tax Withholding Notification and/or your State Department of Taxation for details.
10. CONTRACT/ACCOUNT OWNER SIGNATURE AND TAX WITHHOLDING CERTIFICATION
Under penalties of perjury, I declare that I have examined the tax withholding for state and federal purposes and to the best of my knowledge and belief it is true, correct and complete, including state and federal opt out elections, as applicable.
U.S. TAXPAYER CERTIFICATIONS
Under penalties of perjury, I certify that: 1. The Taxpayer Identification Number that appears on this form is correct, 2.I am not subject to backup withholding due to failure to report interest and dividend income1, and 3.I am a U.S. person 1If you are subject to back-up withholding, you must strike through statement number 2.
NON-RESIDENT ALIEN STATUS
If you are a Non-Resident Alien, please check the box and provide your country of residence below.
c Under penalties of perjury, I certify that I am a Non-Resident Alien and my country of residence is
.
The amount paid to you will be subject to 30% withholding, unless you submit an IRS Form W-8, and are entitled to claim a reduced rate of withholding under the applicable U.S. tax treaty.
Note: If you are a Non-Resident Alien with a U.S. address claiming treaty benefits on your Form W-8, please include a letter of explanation for the reason you have a U.S. address along with supporting documentation such as a copy of a passport or other government ID issued by your foreign country of residence.
I certify that I have received and understand the Notice of your Right to Defer Distribution and the Special Tax Notice and, if applicable, waive the 30 day notice requirement.
The Internal Revenue Service does not require your consent to any provision of this document other than the certifications (in bold above) required to avoid backup withholding.
Owner Signature
Date
Owner SSN
Joint Owner Signature
Date
Joint Owner SSN
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Order #144325 12/30/2018 TM: PAYOUTSRVS/DISTRIB
State Income Tax Withholding Notification 401, 403(b), 408 and Governmental 457 Plan Distribution
Notification If you are a resident of Arkansas, California, Connecticut, Delaware, District of Columbia, Georgia, Iowa, Kansas, Maine, Maryland1, Massachusetts, Michigan, Nebraska2, North Carolina3, Oklahoma, Oregon, Vermont, or Virginia1, your state requires state income tax withholding on the taxable portion of your distribution from your 401, 403(b), 408 Individual Retirement or Governmental 457 Plan. This state income tax withholding is in addition to the mandatory 20% (or, in some cases, 10%) federal income tax withholding. Please note, when a state cost basis differs from federal, the federal cost basis will be used in determining taxability for state income tax withholding purposes.
? If you are a resident of California or Oregon state income tax withholding will be calculated unless you elect "out" of state income tax withholding.
? If you are a resident of Arkansas, North Carolina3 or Vermont, state withholding will be automatically calculated when federal income tax withholding applies. If you do not elect "out" of 10% federal income tax withholding, you can still choose to elect out of state withholding. Requesting North Carolina withholding over mandatory amounts requires their Form NC-4P, Withholding Certificate for Pension or Annuity Payments.
? If you are a resident of Iowa, Maine, Massachusetts, Nebraska2, or Oklahoma, state income tax withholding will be automatically calculated as these states do not allow an election "out" of state income tax withholding when federal income tax withholding applies.
? If you are a resident of Delaware, Kansas or Maryland1 and are subject to mandatory 20% federal income tax withholding, state income tax withholding will be automatically calculated. State withholding is not required when 10% federal income tax withholding applies.
? If you are a resident of Virginia1 or Michigan, state income tax withholding will be calculated automatically unless you meet certain criteria and claim an exemption from withholding. To claim an exemption or to request withholding over mandatory amounts, complete Form VA-4P for Virginia or Form MI-W4P for Michigan, and return the appropriate form to us with, and to the same designated location as, your Withdrawal Request.
? If you are a resident of the District of Columbia and are receiving a total distribution of your account balance, state income tax withholding will be automatically calculated. State withholding is not required for partial distributions.
? If you are a resident of Georgia and are receiving periodic payments, state income tax withholding will be automatically calculated unless you elect out.
? If you are a resident of Connecticut and are receiving partial non-periodic payments, state income tax withholding will be taken at the highest marginal rate unless you claim exemption from withholding and/or request additional withholding by completing Form CT-W4P. If you are receiving a total payment of your account balance, state income tax withholding will be taken at the highest marginal rate unless you request additional withholding by completing Form CT-W4P. You cannot claim exemption from withholding for a total payment. If you are receiving a periodic payment, state income tax withholding will be taken at the highest marginal rate unless you complete Form CT-W4P. Form CT-W4P must be returned to us with, and to the same designated location as, your Withdrawal Request.
1Maryland and Virginia state income tax withholding is not required for distributions from 408 Plans. 2Nebraska state income tax withholding is not required for premature distributions from 408 Plans. 3North Carolina does not apply to distributions from NC state and local government or federal retirement systems for those vested as of 8/12/89.
KEEP A COPY FOR YOUR RECORDS
Order #143703 Form #83006 04/01/2019 TM: MYOUTBCKUP
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