Financial Wellness Center
Transaction Forms for Riverview School Dist. 407 - Duvall, WA
Please Note: The list below is for general reference only. Your organization's 403(b)/457(b) Plan(s) may not permit all transaction types listed.
I am seeking to withdraw funds from my 403(b) plan +
I am seeking to obtain a cash distribution +
You have selected a DISTRIBUTION transaction. IRS regulations allow for any individual who is 59 1/2 years of age and/or separated from service to withdraw funds from their 403(b) plan as a DISTRIBUTION.
I am seeking to move 403(b) funds to an IRA +
You have selected a DISTRIBUTION transaction. IRS regulations allow for any individual who is 59 1/2 years of age and/or separated from service to withdraw funds from their 403(b) plan as a DISTRIBUTION.
I am facing a financial hardship, and need an emergency distribution +
You have selected a HARDSHIP transaction. A hardship distribution is a distribution of funds from your 403(b) account due to an immediate and heavy financial need. Six circumstances are deemed by the IRS to constitute an immediate and heavy financial need:
- Medical expenses for the employee or his/her spouse or dependents
- Costs for the purchase of a principal residence
- Tuition and related educational expenses for the employee or his/her spouse or dependents
- Payments necessary to prevent eviction from or foreclosure on a primary residence
- Burial or funeral expenses for the employee’s parent, spouse, or dependents
- Repair of damage to the employee’s principal residence
- Proof of one or more of the above circumstances must be provided before a hardsip can be approved.
I wish to obtain a 403(b) loan +
You have selected a LOAN transaction. Please ensure you have spoken with your Service Provider before proceeding to ensure that you are eligible for a loan and agree to the terms of repayment.
I am disabled, and wish to take funds from my 403(b) +
You have selected a DISABILITY transaction. Early 403(b) withdrawals are sometimes permissible in the event that you become permanently disabled.
I am seeking to obtain a Service Credit, or to buy-back time +
You have selected a SERVICE CREDIT transaction. A SERVICE CREDIT transaction is a transfer of funds from a 403(b) account to purchase service credit in a tax-qualified defined benefit governmental plan.
I am seeking to move my money (to an IRA, 401(k), etc) +
I am seeking to move my funds to an IRA +
You have selected a DISTRIBUTION transaction. IRS regulations allow for any individual who is 59 1/2 years of age and/or separated from service to withdraw funds from their 403(b) plan as a DISTRIBUTION.
I am seeking to withdraw money from my current/former employer’s 403(b) and move it to a 457 plan +
You have selected a DISTRIBUTION transaction. IRS regulations allow for any individual who is 59 1/2 years of age and/or separated from service to withdraw funds from their 403(b) plan as a DISTRIBUTION.
I am seeking to withdraw money from my current/former employer’s 403(b) and move it to another plan type +
You have selected a DISTRIBUTION transaction. IRS regulations allow for any individual who is 59 1/2 years of age and/or separated from service to withdraw funds from their 403(b) plan as a DISTRIBUTION.
I have not switched employers, but wish to move money from my current 403(b) Service Provider to another 403(b) Service Provider +
I am seeking to move funds from one 403(b) fund company to another fund company under my current employer’s plan +
You have selected an EXCHANGE transaction. An EXCHANGE is defined the transfer of your 403(b) assets from one 403(b) Service Provider to another of your employer’s participating 403(b) Service Providers.
I am seeking to move funds from one 403(b) fund company to another fund company under my previous employer’s plan +
You have selected an EXCHANGE transaction. An EXCHANGE is defined the transfer of your 403(b) assets from one 403(b) Service Provider to another of your employer’s participating 403(b) Service Providers.
I am seeking to move money from another plan type (IRA, 457, or 401(a), etc) into my current employer’s 403(b) Plan +
You have selected a ROLLOVER transaction. A ROLLOVER is defined as moving funds from another form of tax sheltered retirement savings account, such as a 401(k) or IRA, into your 403(b) plan your with one of your employer's participating 403(b) Service Providers.Please note that the acceptance of Rollover funds into a 403(b) Plan is an option item under an employer’s plan. Please call our Service team at 1-877-544-6664 to verify if your employer allows this transaction.
I am seeking to move money from my former employer’s 403(b) Plan to my current employer’s 403(b) Plan +
You have selected a TRANSFER transaction. A TRANSFER is defined as the moving of your 403(b) assets from a plan under a former employer to that of your current employer. Please note that acceptance of a transfer in or out of a 403(b) is an optional item under an employer’s plan. The ability to submit a transfer request does not guarantee approval. You will be notified if this transaction is not allowed by your previous or current employer’s plan.
As part of a divorce, I am to receive/distribute 403(b) assets +
You have selected a QDRO transaction. Please mail or fax us your signed Qualified Domestic Relations Order (QDRO) for review and approval and click the link below to fill out the QDRO Request Form.Address:
- U.S. OMNI
- 220 Alexander Street, Suite 400
- Rochester, NY 14607
- Fax : 585-756-5557
- Attn: Service Provider Team
The Plan Participant has died and I am seeking a distribution from his/her 403(b) account +
You have selected a DEATH CLAIM transaction. Please be aware that an original Death Certificate will be required in order to process this transaction. If you have not, send a certified copy or the original Death Certificate to the service provider team. Address:
- U.S. OMNI
- 220 Alexander Street, Suite 400
- Rochester, NY 14607
- Attn: Service Provider Team
I am seeking to take my Required Minimum Distribution +
You have selected a RMD transaction. The IRS requires participants to make minimum withdrawals each year once they turn age 73 to avoid penalties. Once approved, please hold on to your certificate as it will not expire and can be used for future Required Minimum Distributions without the need to complete the form each year.
Please Note: The list below is for general reference only. Your organization's 403(b)/457(b) Plan(s) may not permit all transaction types listed.
Death Claim +
403(b) / 457(b)
In the unfortunate event that you are the beneficiary of a deceased 403(b) participant, you may want to obtain a distribution from the plan in question. Start by contacting the deceased’s Service Provider to request a distribution as the beneficiary of the plan- if possible, be prepared to supply the Service Provider with a Death Certificate
After obtaining the necessary paperwork from the 403(b) Service Provider, complete the online Death Claim Form. If the Service Provider was not already supplied with the Death Certificate then a copy must be uploaded or faxed to OMNI. Once we confirm the participant as being deceased, we will email the beneficiary the certificate approval, which should be printed and submitted to the Service Provider with any required paperwork.
After obtaining the necessary paperwork from the 403(b) Service Provider, complete the online Death Claim Form. If the Service Provider was not already supplied with the Death Certificate then a copy must be uploaded or faxed to OMNI. Once we confirm the participant as being deceased, we will email the beneficiary the certificate approval, which should be printed and submitted to the Service Provider with any required paperwork.
Disability +
403(b)
Early 403(b) withdrawals are sometimes permissible in the event that you become permanently disabled. After completing your Service Provider’s distribution paperwork, fill out the online Disability Request Form. Evidence of disability approval from the Social Security Administration would be required.
OMNI will verify any necessary information with your current or former employer before authorizing your transaction and emailing you a Certificate of Approval . Typical turnaround time for this transaction is between five and eight business days. Once a certificate of approval has been issued, it should be printed and submitted to your Service Provider with any required paperwork.
OMNI will verify any necessary information with your current or former employer before authorizing your transaction and emailing you a Certificate of Approval . Typical turnaround time for this transaction is between five and eight business days. Once a certificate of approval has been issued, it should be printed and submitted to your Service Provider with any required paperwork.
457(b)
Not Allowed by IRS
Distribution +
403(b)
IRS regulations allow for any individual who is 59 1/2 years of age and/or separated from service to withdraw funds from their 403(b) plan. If you meet these criteria, your first step will be to contact your 403(b) service provider to
request a distribution.
After completing your Service Provider’s distribution paperwork, fill out the online Distribution Request Form. OMNI will verify any necessary information with your current or former employer before authorizing your transaction and will email a Certificate of Approval, which should be printed and submitted to the Service Provider with any required paperwork .
After completing your Service Provider’s distribution paperwork, fill out the online Distribution Request Form. OMNI will verify any necessary information with your current or former employer before authorizing your transaction and will email a Certificate of Approval, which should be printed and submitted to the Service Provider with any required paperwork .
457(b)
IRS regulations allow for any individual who is 70 1/2 years of age (or 59 1/2 depending on your plan's features) and OR separated from service to withdraw funds from their 457 plan. If you meet these criteria, your first step will be to contact your 457 service provider to request a distribution. After completing your Service Provider’s distribution paperwork, fax the completed documents to OMNI’s Service Provider Team at 585-756-5557. In some cases, original paperwork may need to be submitted.
OMNI will verify any necessary information with your current or former employer before authorizing your transaction and returning it directly to your 457 Service Provider for payout. Typical turn around times for this transaction are between five and eight business days. If at any point you would like a status update on the progress of your distribution, feel free to contact OMNI’s Customer Care Team at 877-544-6664.
OMNI will verify any necessary information with your current or former employer before authorizing your transaction and returning it directly to your 457 Service Provider for payout. Typical turn around times for this transaction are between five and eight business days. If at any point you would like a status update on the progress of your distribution, feel free to contact OMNI’s Customer Care Team at 877-544-6664.
Exchange +
403(b) / 457(b)
This refers to the transfer of your 403(b) assets from one 403(b) Service Provider to another of your employer’s participating providers. As with a rollover, you will want to obtain paperwork from your receiving vendor
(who must be on your current employer’s list of participating vendors), to initiate this transaction.
After contacting your sending provider to obtain any paperwork that may be required, complete the online Exchange Request Form. OMNI will email the certificate of approval within 2-3 business days, which should be printed and submitted to your Service Provider with their required paperwork.
After contacting your sending provider to obtain any paperwork that may be required, complete the online Exchange Request Form. OMNI will email the certificate of approval within 2-3 business days, which should be printed and submitted to your Service Provider with their required paperwork.
Hardship +
403(b)
A hardship distribution is a distribution of funds from your 403(b) account due to an immediate and heavy financial need. Seven circumstances are deemed by the IRS to constitute an immediate and heavy financial need:
- Medical expenses for the employee or his/her spouse or dependents
- Costs for the purchase of a principal residence
- Tuition and related educational expenses for the employee or his/her spouse or dependents
- Payments necessary to prevent eviction from or foreclosure on a primary residence
- Burial or funeral expenses for the employee’s parent, spouse, or dependents
- Repair of damage to the employee’s principal residence
- Expenses and losses incurred on account of a FEMA declared disaster
- The amount of the hardship distribution cannot exceed the amount of the immediate and heavy financial need.
- Unless restricted by your Employer's plan, hardship distributions are permitted to be taken from employee contributions, qualified non-elective and matching contributions, and earnings on those contribution sources.
457(b)
See Unforseeable Emergency below
Unforeseeable Emergency Withdrawal +
403(b)
See Hardship section above
457(b)
An unforeseeable emergency distribution is a distribution of funds from your 457(b) account due to severe financial need. Four circumstances are deemed by the IRS to constitute a severe need:
- Illness, accident or medical expenses of the participant, the participant's beneficiary, or the participant's, or the beneficiary's spouse or dependent
- Property loss caused by casualty (for example, damage from a natural disaster not covered by homeowner's insurance) of the participant or the beneficiary
- Funeral expenses of the participant, beneficiary or dependent
- Imminent foreclosure of or eviction from the participant's primary place of residence
- The amount of the unforeseeable emergency distribution cannot exceed the amount of the immediate and heavy financial need.
- Unforeseeable emergency distributions can only be made from employee contributions and cannot be made from earnings on those contributions.
Loan +
403(b) / 457(b)
Many Service Providers allow for participants to take a loan against the assets held in their plan. If your Service Provider allows for loans, you will start the process by contacting them directly to request this transaction. It is important to note that Loans will need to be repaid (often with interest). Your Service Provider will work with you to decide on the technicalities of your loan, including the manner in which it will be repaid.
After completing your Service Provider’s Loan Paperwork, fill out OMNI’s Loan Request Form. OMNI will contact your Service Provider to confirm your eligibility and the maximum amount you may borrow. OMNI will then email a certificate of approval within 3-5 business days, which should be printed and submitted to your Service Provider with their required paperwork.
If the amount requested exceeds the available loan amount, OMNI will issue an approval for the maximum amount allowed by the Service Provider. We strongly advise confirming the available amount with your Service Provider before submitting this request.
After completing your Service Provider’s Loan Paperwork, fill out OMNI’s Loan Request Form. OMNI will contact your Service Provider to confirm your eligibility and the maximum amount you may borrow. OMNI will then email a certificate of approval within 3-5 business days, which should be printed and submitted to your Service Provider with their required paperwork.
If the amount requested exceeds the available loan amount, OMNI will issue an approval for the maximum amount allowed by the Service Provider. We strongly advise confirming the available amount with your Service Provider before submitting this request.
Qualified Domestic Relations Order (QDRO) +
403(b) / 457(b)
A Qualified Domestic Relations Order (QDRO) is a court order necessary for the distribution of a participant’s account to a former spouse. A QDRO is commonly separate from a judgment of divorce, and provides the specifics of how
the funds are to be divided.
OMNI will review the court order to ensure compliance with applicable regulatory requirements. Upon approval of the court order, OMNI will forward its findings to the distributing service provider(s) and all other parties involved. OMNI also reviews drafts of orders prior to submission to a judge for signature in an effort to facilitate a smooth transaction once the signed order is submitted to OMNI for approval. Please note the service provider(s) may require additional paperwork to complete the transaction and an original or certified copy of the court order.
Court orders may be sent via fax to OMNI’s Service Provider Team at 585-756-5557 or mailed to 220 Alexander Sreet, Suite 400, Rochester, NY 14607 .
Please be advised that once OMNI has been notified of a divorce – whether completed or pending – no transactions taken on the account will be approved until we receive the signed QDRO (if former spouse has a claim) or the Judgement of Divorce and Settlement Agreement confirming that the former spouse has no claim on the account.
OMNI will review the court order to ensure compliance with applicable regulatory requirements. Upon approval of the court order, OMNI will forward its findings to the distributing service provider(s) and all other parties involved. OMNI also reviews drafts of orders prior to submission to a judge for signature in an effort to facilitate a smooth transaction once the signed order is submitted to OMNI for approval. Please note the service provider(s) may require additional paperwork to complete the transaction and an original or certified copy of the court order.
Court orders may be sent via fax to OMNI’s Service Provider Team at 585-756-5557 or mailed to 220 Alexander Sreet, Suite 400, Rochester, NY 14607 .
Please be advised that once OMNI has been notified of a divorce – whether completed or pending – no transactions taken on the account will be approved until we receive the signed QDRO (if former spouse has a claim) or the Judgement of Divorce and Settlement Agreement confirming that the former spouse has no claim on the account.
Required Minimum Distribution +
403(b) / 457(b)
Required minimum distribution from Plan where participant is within the calendar year of attaining the age of 73 or later. For more details, please visit our Transaction Information page or contact OMNI.
Rollover +
403(b)
In the event that you are moving funds from another form of tax sheltered retirement savings account, such as a 401(k) or IRA, to your 403(b) plan, your first step will be to contact OMNI to confirm whether this transaction is
allowed under your employer’s plan . If so, you should establish a 403(b) plan with one of your employers Participating Providers. After establishing your plan, obtain your receiving vendor’s rollover paperwork.
Once you have received the Service Provider paperwork, complete the online Rollover Request Form. OMNI will email the certificate of approval within 2-3 business days, which should be printed and submitted to your Service Provider with their required paperwork.
Please note OMNI’s Rollover Form is classified as the transfer of funds from a non-403(b) account into a 403(b). For transfers out of the 403(b) plan into any other type of retirement plan (such as 401(k) or IRA), please use OMNI’s Distribution Form.
Once you have received the Service Provider paperwork, complete the online Rollover Request Form. OMNI will email the certificate of approval within 2-3 business days, which should be printed and submitted to your Service Provider with their required paperwork.
Please note OMNI’s Rollover Form is classified as the transfer of funds from a non-403(b) account into a 403(b). For transfers out of the 403(b) plan into any other type of retirement plan (such as 401(k) or IRA), please use OMNI’s Distribution Form.
457(b)
In the event that you are moving funds from another form of tax sheltered retirement savings account, such as a 401(k) or IRA, to your 457 plan your first step will be to establish a 457 plan with one of your employers Participating Providers. After establishing your plan, obtain your receiving vendor’s rollover paperwork, or obtain a Letter of Acceptance (LOA) indicating their ability to accept your funds.
After contacting your sending provider to obtain any paperwork that may be required, fax the completed documents to OMNI’s Service Provider Team at 585-756-5557. In some cases, original paperwork may need to be submitted.
After contacting your sending provider to obtain any paperwork that may be required, fax the completed documents to OMNI’s Service Provider Team at 585-756-5557. In some cases, original paperwork may need to be submitted.
Service Credit +
403(b) / 457(b)
Transfer of funds from a 403(b) account to purchase service credit in a tax-qualified defined benefit governmental plan (i.e., pension plan).
To request approval for the purchase of service credit, obtain any Service Provider paperwork and fill out the Service Credit Request Form. OMNI will email the certificate of approval, which should be printed and submitted to the Service Provider directly.
To request approval for the purchase of service credit, obtain any Service Provider paperwork and fill out the Service Credit Request Form. OMNI will email the certificate of approval, which should be printed and submitted to the Service Provider directly.
Transfer +
403(b) / 457(b)
This refers to the transfer of your 403(b) assets from a plan under a former employer to that of your current employer. Your first step should be to establish a 403(b) plan with one of your current employer’s Participating Providers.
After establishing the plan, obtain any paperwork that is required for the transfer of funds and complete the online Transfer Request Form. OMNI will email the certificate of approval within 2-3 business days, which should be printed and submitted to your Service Provider with their required paperwork
Please note that a transfer is an optional transaction for employers. The ability to submit a transfer request does not guarantee that a transfer will be approved by either the former or the current employer. If a transfer is not allowed by an employer’s plan, you will be notified accordingly.
Please note that a transfer is an optional transaction for employers. The ability to submit a transfer request does not guarantee that a transfer will be approved by either the former or the current employer. If a transfer is not allowed by an employer’s plan, you will be notified accordingly.
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220 Alexander Street
Suite 400
Rochester, NY 14607
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