Plan Sponsor Directed Transfer to a Safe Harbor IRA

The Plan Sponsor can authorize a Mandatory Transfer to a Safe Harbor IRA. (Available for account balances between $1,000 and $5,000.) 

  1. Follow the steps identified in the "Processing" section of the Participant Separation from Service Checklist.
  2. If the participant with a vested balance between $1,000 and $5,000 fails to return the properly authorized Separation from Service Distribution Authorization Form by the designated return date:
  3. Complete Section 2 of the Separation from Service Distribution Authorization Form.
  4. Complete Section 3 of the Separation from Service Distribution Authorization Form by marking the "Upon the expiration of 60 days ..." bubble.
  5. Complete Section 6 of the Separation from Service Distribution Authorization Form. Mark the "Participant Declines" box. Sign and date the form in this section.
  6. Forward the fully executed Separation from Service Distribution Authorization Form to Envoy TPA and Recordkeeping, Inc. at PlanSponsor@EnvoyFinancial.com.
  7. Save a copy of the form in the Participant's Human Resource folder. In the event of a Plan audit, a copy of the form will be needed.