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TPA / Record Keeper Forms
TPA / Record Keeper Information
Colorado National Bank (“CNB”) has created an Automatic Rollover IRA program which satisfies the DOL safe harbor provisions, thereby allowing employers/plan sponsors to reduce their administrative burden, fiduciary liability and plan management expenses. The program was developed with the TPA / Record Keeper in mind.
- Easy Set-Up Process
- Safe Harbor Compliant
- Follows Department of Labor Regulations
- Reduces Plan Trustee fiduciary exposure
- Reduces plan administrative costs
- One Master Adoption Agreement (covers all participant IRAs)
- Protects the qualified status of participant's retirement account
- Participant account balance is invested in an FDIC insured savings account.
- CNB continues Plan Sponsor's effforts to locate non-responsive participants
- CNB registers missing participants with National Registry of Unclaimed Retirement Benefits
- No Cost to Plan Sponsor, TPA, or Record Keeper
- All fees charged to IRA and are competitive
- Web access to monitor rollover accounts
TPA / Record Keeper Referral Program
We offer an Automatic Rollover IRA Referral Program that compensates TPAs and Record Keepers who refer employers/plan sponsors to Colorado National Bank.
Recognizing the important role TPAs / Record Keepers play in administering employer sponsored retirement plans CNB has established a referral program that provides compensation to TPAs / Record Keepers for providing us with the account opening information for missing plan participants. TPAs / Record Keepers receive $25 per account the first years, with $10 each year thereafter. Payments will continue until such time as the missing participant is located or the account balance drops to $100 or less.
Referral Fee Overview
|Time Period||Amount||Qualification Requirements||When Paid|
|Year 1||$25 per account||
||The month following account establishment and funding|
|Year 2+||$10 per account each year||
||January of the following year|
Note: Referral fee will be paid for each account until missing participants have been located or the account balance drops to $100 or less.
Easy Set-up Process
Setting up the program is fast and easy!
You will need to provide Colorado National Bank with the following documents and information:
- A completed Automatic Rollover IRA Referral Agreement (executed by the Referring Party);
- A completed Form W-9 (executed by the Referring Party);
- A completed Automatic Rollover IRA Services Agreement (executed by the Plan Sponsor);
- A completed Master Employer Adoption Agreement (executed by the Plan Sponsor); and
- Account information including the name of the employer/plan sponsor, the name of the plan, the name of the record keeper or TPA, participant(s) name, last known street address, social security number, date of birth, date of termination, and a breakdown of retirement plan funds, e.g., pre-tax/after tax funds or Roth 401(k) balances. Note: Colorado National Bank provides you with an Excel template for compiling the information and a secure web portal where the information can be uploaded to us in a secure environment.
To sign-up for Colorado National Bank's Automatic Rollover IRA Program simply complete and return the Referral Agreement along with a W-9.
To download the complete Automatic Rollover IRA Kit, including the Referral Agreement and W-9, click here.
You may fax or email the Agreements and W-9 back to Colorado National Bank:
Attention: Paul E. Maxwell
If you have any questions concerning CNB's Automatic Rollover IRA Program, please contact:
Paul E. Maxwell
Colorado National Bank
SVP Retirement Plans Division