| TaxWithholdingProduct should be used to specify if Federal, State and/or Local taxes should be withheld when a disbursement occurs (for example a systematic withdrawal or income payout). Information regarding the carrier's default processing and procedures (such as they will automatically withhold 28% in federal taxes with every disbursement unless other specific instructions are provided) are not enumerated in this aggregate (use Attachment/AttachmentType = 250 - Instructions/Reminders). If federal withholding is required then TaxWithholdingPlace = 1 - Federal or national tax, TaxWithholdingCollect = 2 - Data collection required and WithholdStateIfFederalInd and TaxWithholdingApproval can be used to specify the nation. If federal withholding is optional then TaxWithholdingPlace = 1 - Federal or national tax, TaxWithholdingCollect = 1 - Data collection optional and WithholdStateIfFederalInd and TaxWithholdingApproval can be used to specify the nation. In some states, state withholding is required if federal withholding is elected but is optional if Federal is not withheld. To enumerate this case, TaxWithholdingPlace = 2 - Jurisdiction Tax, TaxWithholdingCollect = 2 - Data collection optional and WithholdStateIfFederalInd = TRUE. In some states, state withholding is required regardless if federal withholding is elected. To enumerate this case, TaxWithholdingPlace = 2 - Jurisdiction Tax, TaxWithholdingCollect = 2 - Data collection required and WithholdStateIfFederalInd = FALSE. In some states, state withholding is optional regardless if federal withholding is elected. To enumerate this case, TaxWithholdingPlace = 2 - Jurisdiction Tax, TaxWithholdingCollect = 1 - Data collection optional and WithholdStateIfFederalInd = FALSE. In some states, state withholding should not be collected regardless if federal withholding is elected. To enumerate this case, TaxWithholdingPlace = 2 - Jurisdiction Tax, TaxWithholdingCollect = 3 - Data not to be collected and WithholdStateIfFederalInd = FALSE. |
AmountProduct
JurisdictionApproval