Yes! You can use AI to fill out New York State Deferred Compensation Plan Benefit Distribution Request
This form, officially the New York State Deferred Compensation Plan Benefit Distribution Request (NRI-0353NY-NY.24), allows participants to request distributions from their 457 plan. It is essential for accessing retirement funds through options like full or partial lump-sum payments, periodic payments, or rollovers. Today, this form can be filled out quickly and accurately using AI-powered services like Instafill.ai, which can also convert non-fillable PDF versions into interactive fillable forms.
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Form specifications
| Form name: | New York State Deferred Compensation Plan Benefit Distribution Request |
| Number of pages: | 1 |
| Language: | English |
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How to Fill Out NRI-0353NY-NY.24 Online for Free in 2026
Are you looking to fill out a NRI-0353NY-NY.24 form online quickly and accurately? Instafill.ai offers the #1 AI-powered PDF filling software of 2026, allowing you to complete your NRI-0353NY-NY.24 form in just 37 seconds or less.
Follow these steps to fill out your NRI-0353NY-NY.24 form online using Instafill.ai:
- 1 Navigate to Instafill.ai and upload or select the Benefit Distribution Request form.
- 2 Provide your personal details in the 'Personal Information' section, including your account number or SSN, name, and contact information.
- 3 In Step 1, declare your eligibility status (e.g., separated from service, age 59.5+) and choose your desired distribution type (Full, Partial, or Periodic Payments).
- 4 In Step 2, specify the source of the funds (e.g., Pre-Tax, Roth) and how the withdrawal should be allocated across your investment options.
- 5 In Step 3, select your payment method, either a check or direct deposit (ACH), and provide your bank account details if choosing a new direct deposit.
- 6 Complete the 'Tax Withholding' section to specify your preferences for federal and state income tax, attaching IRS forms W-4R or W-4P if necessary.
- 7 Carefully review all entered information, then digitally sign and date the form in the 'Authorization' section to finalize your request for submission.
Our AI-powered system ensures each field is filled out correctly, reducing errors and saving you time.
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Frequently Asked Questions About Form NRI-0353NY-NY.24
This form is used to request a payment from your New York State Deferred Compensation Plan account. You can use it to take a full or partial lump sum, set up regular periodic payments, or roll over your funds to another retirement account.
You are eligible if you have separated from service or retired, are age 59.5 or older (even if still working), or are the beneficiary of a deceased participant's account. For some options, the Plan must first receive notification of your separation from service from your employer.
You can choose a one-time full distribution, a partial lump-sum payment, or set up periodic payments on a monthly, quarterly, semi-annual, or annual basis. You also have the option to roll over your assets to another eligible retirement plan like an IRA or 401(k).
After your form is processed, direct deposits typically arrive in your bank account within 4-6 business days. If you request a paper check, you should allow 7-12 business days for mail delivery.
No, the Plan cannot process a full distribution if you have a balance in your SDBA. You must first transfer the assets from your SDBA back into your core Plan account before submitting this form.
If you are separated from service and take a full distribution, you can have the loan canceled, but the outstanding balance will be treated as taxable income. For partial or periodic payments, you must continue making your loan repayments.
A mandatory 20% federal tax is withheld from full and partial lump-sum distributions. For other payment types, the rate varies, but you can request a different withholding amount by submitting an IRS Form W-4R or W-4P with your request.
If you are age 73 or older and no longer working, your withdrawals must satisfy the annual Required Minimum Distribution (RMD). The Plan will automatically send a supplemental payment at year-end if your scheduled distributions do not meet the required amount.
Yes, you can submit your distribution request online by logging into your account at www.nysdcp.com. The website also allows you to track the real-time status of your request.
On the form, select the direct deposit option and provide your bank's name, routing number, and account number for a checking or savings account. If your information is already on file, you can simply confirm it.
Yes, services like Instafill.ai use AI to accurately auto-fill form fields, which can save you time and help prevent errors. This is especially useful for forms with multiple pages and detailed information.
Simply upload the Benefit Distribution Request PDF to the Instafill.ai platform. The AI will identify the fields, allowing you to provide your information and have it filled in automatically before you download, print, and sign.
If you have a non-fillable or 'flat' PDF, you can use a service like Instafill.ai to convert it into an interactive, fillable form. This allows you to easily type your information directly into the fields online.
You may need to submit an IRS Form W-4R or W-4P if you wish to change the standard federal tax withholding amount for your distribution type. These forms are available on the Plan's website or by calling the helpline.
Yes, as long as there is a balance in your account, you can change your payment option at any time. You can contact the HELPLINE to increase or decrease payments or take additional partial distributions.
Compliance NRI-0353NY-NY.24
Validation Checks by Instafill.ai
1
Participant Identification Completeness
This check ensures that either the Account Number or the last 4 digits of the participant's Social Security Number (SSN) is provided. This information is essential for accurately identifying the correct account before any transaction is processed. If neither identifier is provided or if they do not match an existing account, the request will be rejected to prevent unauthorized or incorrect distributions.
2
Exclusive Eligibility Status Selection
Verifies that the participant has selected exactly one option from the 'ELIGIBILITY' section. The chosen status (e.g., 'Separation from Service', 'age 59.5 or older') dictates which distribution rules and options are available to the participant. Selecting zero or multiple options creates ambiguity and will cause the form to be rejected as 'not in good order'.
3
Single Distribution Type Selection
Ensures that only one primary distribution type ('Full Distribution', 'PARTIAL ONE-TIME PAYMENT', 'PERIODIC PAYMENTS', or 'Cancel Current Periodic Payment') is selected. Each type triggers a different processing workflow with unique tax implications and data requirements. A form with multiple or no selections in this section cannot be processed and will be returned for clarification.
4
Partial Distribution Amount Validation
If 'PARTIAL ONE-TIME PAYMENT' is selected, this validates that the specified gross amount is a positive number and meets the plan's minimum of $100. The system should also check that the requested amount does not exceed the available account balance. A request for less than the minimum or more than the available funds will fail processing.
5
Periodic Payment Method and Value Completeness
This check confirms that if 'PERIODIC PAYMENTS' is chosen, the participant has selected either 'Fixed Dollar Amount' or 'Fixed Time Period', but not both. It also ensures the corresponding field for the selected method contains a valid numeric value. Failure to specify a single, complete periodic payment method makes it impossible to establish a payment schedule.
6
Loan Option Consistency with Eligibility
Validates that if a participant with a loan requests a 'Full Distribution' and selects 'Stop my loan payments', their eligibility status is 'Separation from Service/Retired'. This option is not available to participants who are still working. An inconsistency between eligibility and the selected loan option will result in a processing error and delay the distribution.
7
Source Type Consistency with In-Service Rollover Eligibility
This check ensures that if a participant selects 'In-Service distribution of “Rollover” source funds' as their eligibility, they have also selected 'Rollover' as the 'Source Type'. This logical link is required by plan rules for this specific type of in-service withdrawal. A mismatch indicates a user error and will cause the request to be rejected for correction.
8
RMD and Roth Source Exclusion for Participants
In compliance with SECURE Act 2.0, this validates that for an RMD-eligible participant (age 73+ and separated), funds are not distributed from a 'Roth' source to satisfy the RMD. Even if 'Roth' or 'ALL Sources' is selected, the system must prevent Roth funds from being used for the RMD portion of the withdrawal. This is critical for maintaining the tax-compliant status of the distribution.
9
New Direct Deposit Information Completeness
Verifies that if 'New Direct Deposit ACH' is selected, all associated fields (Account Type, Bank Name, ABA/Routing Number, Bank Account Number) are filled out. Incomplete information prevents the electronic transfer of funds. The request will be delayed pending verification, or a physical check will be mailed if the information cannot be obtained.
10
ABA Routing Number Format and Validity
This check confirms that the provided ABA/Routing Number is exactly nine digits long and corresponds to a valid U.S. financial institution, typically via a checksum validation. An invalid or incorrectly formatted routing number will cause the direct deposit transaction to fail. This validation prevents payment delays and the need for re-issuing funds.
11
Required IRS Tax Form Attachment
Checks if a tax withholding selection requires an accompanying IRS Form W-4R or W-4P. For example, selecting 'I elect more than standard FIT' for a partial withdrawal requires a W-4R. The system should flag the submission as incomplete if the box is checked but the corresponding form is not included, halting the process until all required tax documentation is received.
12
New Jersey Resident State Tax Withholding Rule
Enforces the specific rule that if the participant's address of record is in New Jersey, they must specify a whole dollar amount for state tax withholding. The system checks the address and validates that the NJ-specific field is used and contains a dollar amount, not a percentage. This is essential for complying with mandatory state tax regulations.
13
Authorization Signature and Date Presence
Confirms that the 'Signature' and 'Date' fields in the Authorization section are both completed. A signature is a legal requirement to authorize the distribution, and the date establishes when the authorization was given. An unsigned or undated form is legally invalid and cannot be processed under any circumstances.
Common Mistakes in Completing NRI-0353NY-NY.24
This is one of the most common reasons for rejection, often happening when people are in a hurry to complete the paperwork. An unsigned form is not legally valid and cannot be processed, leading to an immediate delay until a properly signed version is submitted. Always double-check the authorization section on the final page to ensure your signature and the current date are present before mailing or faxing.
Users often transpose digits in their bank account or routing number, or forget to select the account type (checking/savings). This error causes the electronic transfer to fail, forcing the plan to default to mailing a physical check, which significantly delays access to funds. To avoid this, carefully verify all numbers against a check or your bank's official information; AI-powered tools like Instafill.ai can help validate routing numbers to prevent such errors.
The form has different tax rules and requires different supplemental forms (W-4R or W-4P) depending on the distribution type. A frequent mistake is checking a box to elect a non-standard withholding amount but failing to attach the corresponding, completed IRS form. This results in the plan applying the default withholding (e.g., 20%), which may be higher or lower than desired and can have significant tax consequences.
Applicants often overlook the specific instruction that a full distribution cannot be processed if there is a balance in the Self-Directed Brokerage Account (SDBA). This mistake happens because the warning is embedded in a page of text that people may skim over. The request will be rejected, and the applicant must first log in to their SDBA provider to transfer the assets back to the core plan before resubmitting the form, causing a major delay.
In the Periodic Payments section, users are asked to choose between a 'Fixed Dollar Amount' OR a 'Fixed Time Period', but some fill out both fields. This creates ambiguity for the processor, who cannot determine the user's intent, forcing them to contact the applicant for clarification. To prevent this delay, carefully read the instructions and select only one of the two options to define your payment schedule.
Applicants sometimes leave the 'Account Number OR Last 4 of SSN' field blank, assuming their name is sufficient identification. However, this is a required field for the plan to locate and verify the correct account before processing any distribution. Leaving it blank will cause the form to be flagged as 'not in good order,' halting the process until the information is provided.
The form requires applicants to select their eligibility status, such as 'Separation from Service' or 'Age 59.5 or older and still working'. People may choose the wrong option if they are unsure of their official status in the plan's records, which can lead to the request being processed under incorrect rules or delayed for verification. Before filling out the form, confirm your status with the plan or your employer to ensure the correct option is selected.
The option to cancel a loan and have the balance treated as a taxable distribution is only available to those who are separated from service and taking a full distribution. A common error is for someone who is still working or only taking a partial distribution to select this option. This will cause the request to be rejected or processed incorrectly, requiring correction and resubmission.
When selecting a start date for periodic payments, users may enter a date that has already passed or is too soon for the form to be received and processed. The form states that if no valid date is provided, it will default to the day the form is approved, which may not align with the applicant's financial planning. To avoid this, choose a future date that allows at least 7-10 business days for mail and processing time.
This form is part of a multi-page packet and may require additional attachments like an IRS W-4R or W-4P for custom tax withholding. People often forget to include these supplemental forms or may only fax/mail the pages they filled out instead of the entire document. An incomplete submission cannot be processed and will be put on hold, delaying the distribution until all required pages and documents are received.
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