long story short I invested in a mutual fund 30 years ago. Rolled the whole thing over a couple of times, switching from AIG to Edward Jones, to an individual

a small portion labeled "fixed account" would not roll over and now I see that there is about 8k still in the account. I'm 61 and want this money to buy Garmin Livescope package and want to then close the account

Called and contacted the company that holds the account now (Corebridge financial). They say I can get the money but have to contact another company (National Benefit Services) to get a "certificate" as they are a 3rd party administrator. Called NBS and they emailed me a distribution/rollover form (no one there signed it)

So far no luck in getting this transaction happening. Any insight or advice is welcome

thanks

I would have to get my CPA or Financial Advisor guy to answer this if it were me. Seems like you can just fill out the Distribution form, in other words request the $8K to be sent to you. This should initiate a taxable event and will require a 1099. Sorry I am of no real help here.

Was this an IRA or just a brokerage account? If it’s just a brokerage account it’s very easy to get the money it just sounds like you aren’t 100 sure who is holding the money.

And if it is in an IRA, assuming not a Roth IRA, remember that however much you take out will be taxable in 2024 as ordinary income.

403b initially bought from Valic where I contributed to different funds, one being the "fixed savings"

The money is now with Corebridge Financial (Got the statement from them, and called them and they said we need a certificate from the 3rd part y administrator National Benefits Services)

and yes, I'm ready to take the tax hit on it as well which should give me around 6k for livescoping

guy said 20% tax would be taken out

Corbridge are the old AIG accounts. It sounds like this is an old AIG annuity. Since you say this has a TPA involved, was this set up through an employer?

They're not going to sign that form until you do, btw.

Sorry...just saw your other post above about this being a 403b.

It should be a breeze to order that money out. I order funds out of Corebridge accounts regularly with no issues. It's a quick fed wire transfer.

yes Floon, through a school district I no longer teach at (good grammar right)

I would get bluesman to kick their door down and make them feel lucky they're still alive.

I had something similar happen a couple years back with a vanguard account that is now serviced by a 3rd party. It was a pain in the [censored], required a million phone calls and forms to be filled out and created a taxable event for me. I’m of no help to this conversation other than to complain that I dealt with something similar 3 years ago.

thanks for the comments guys

back to the phones