Applies To:
- All Portfolio Managers, Advisors, Wealth Planners, and support staff.
- Eligible account types: LIF accounts.
You can submit a Recalculate LIF Maximum request from a client’s CRM Contact Record. Use the instructions below to ensure requests are processed correctly and all necessary information is provided.
When to Submit a Recalculate LIF Maximum Request
- A client's annual LIF maximum withdrawal limit needs to be recalculated due to changes in their account balance, age, or other contributing factors.
- The client's income needs have changed, and they want to adjust their withdrawals within the allowable limits.
- A client has made additional contributions or withdrawals that impact the LIF maximum calculation.
How to Submit a Recalculate LIF Maximum Request
To submit a Recalculate LIF Maximum request, you'll use the Service Extension on the client's CRM Contact Record.
How to Submit a Recalculate LIF Maximum Request
- Navigate to the Client's CRM Contact Record
- Go to the Servicing Tab
- Select "Account Administration → Special Handling
- Select "Recalculate LIF Maximum" as your request type
- Select the Target Account
- Review & Submit
- Once you confirm the details, click Submit to create the service request ticket.
After Submitting the Request
A new service request ticket will be created. You can locate it:
- In the Right-Side Panel of the client's CRM Contact Record under Tickets.
- In the Account Administration Pipeline, where you can track the progress and confirm when the request is completed.
Processing Times
- Typically 1-2 business days after the ticket has been submitted and completed any applicable review.