Yes! You can use AI to fill out Incoming Rollover Request

In Section A, applicants often leave the 'Contract/Account No.', 'Affiliate No.', or 'Division No.' fields blank or enter incorrect information. This typically happens because they don't know where to find these numbers, which are specific to their employer's plan with Transamerica. An error here can lead to significant delays, rejection of the form, or the funds being misapplied to the wrong account. To avoid this, individuals should find these numbers on a recent account statement or in their plan's welcome packet before starting the form.

A very common and critical error is submitting the form without the 'Plan Administrator Signature' in Section E. Participants often overlook this requirement, assuming only their own signature is needed. Without the authorized signature from the new plan's administrator, Transamerica cannot process the rollover, leading to an automatic rejection and requiring the entire process to be restarted. Before submitting, you must identify your new employer's plan administrator and have them sign and date the form.

Section C is highly complex and a major source of errors, particularly distinguishing between standard after-tax and Roth contributions. People frequently fail to provide the required cost basis for after-tax amounts or the detailed breakdown and required statement for Roth rollovers. This mistake can have serious tax consequences, as the form states that without proper documentation, all funds will be treated as pre-tax, potentially leading to incorrect taxation. It is crucial to get this information from the prior plan provider before filling out this section.

The form explicitly states that for any Roth rollover, a copy of the rollover statement from the transferring plan must be attached, and that Transamerica will contact the prior provider about a delayed rollover only if a recent statement is attached. Many people forget to include these necessary attachments. This omission will halt the process, as Transamerica cannot accept Roth amounts or follow up on delayed funds without the required paperwork, causing significant delays.

In Section D, individuals often provide incomplete or vague information about their prior plan provider. They may confuse the plan name with the provider's name (e.g., 'My Old Company 401k' vs. 'Fidelity Investments') or lack the specific account number and contact phone number. This incomplete data makes it difficult or impossible for Transamerica to coordinate the transfer or follow up if the funds are not received, placing the burden back on the applicant to resolve the issue.

In Section C, applicants must select the type of plan the rollover is coming from (e.g., 401(k), 403(b), IRA). Many people are unsure of the exact classification of their old retirement account and may guess incorrectly. Selecting the wrong plan type can lead to compliance issues and potential tax penalties, as different rules apply to rollovers from different sources. It's essential to confirm the exact plan type with the prior institution before making a selection.

Simple typos in critical fields like Social Security Number, Date of Birth, or name spelling in Section B are frequent mistakes. These errors cause an identity mismatch when Transamerica attempts to verify the applicant's information, leading to immediate rejection of the request for security reasons. Double-checking this information for accuracy is vital. AI-powered form-filling tools like Instafill.ai can help prevent these errors by securely storing and accurately populating personal data.

The form specifies a `(mm/dd/yyyy)` format for the 'Date of Birth' and 'Date of Hire' fields. However, users often enter dates in other formats, such as `d/m/yyyy` or `yyyy-mm-dd`, which can cause data entry errors on the receiving end or require manual correction. This can slow down processing. Using the specified format ensures the information is captured correctly the first time. Tools like Instafill.ai can automatically format dates correctly based on the form's requirements.

Since this form is a PDF, many users will print it and fill it out by hand. Rushed or unclear handwriting can make names, numbers, and addresses impossible to read, leading to data entry errors, misdirected communications, or outright rejection of the form. If a form is a non-fillable PDF, tools like Instafill.ai can convert it into a fillable version, allowing you to type directly into the fields for perfect legibility before printing for signatures.

Section F provides three different addresses: one for regular mail, one for overnight mail, and a third for submitting the form when funds are being wired. Applicants often get confused and send the check or the form to the wrong location. This mistake can cause the check to be lost or significantly delay the matching of the form to the wired funds, leaving the money in limbo. It is crucial to carefully read Section F and select the correct address based on the submission method.