Note: You do not send a copy of the statement to us.
If the rollover data standard does not apply to the transaction you must do all of the following.
- Send the statement to the receiving fund within seven days of paying them the rollover.
- Provide a copy of the statement to your member within 30 days of paying the rollover to the receiving fund.
- Keep a copy of the statement in your records for five years.
If the rollover data standard does apply to the transaction, you must do all of the following.
- Comply with the requirements of the data standard for the fund-to-fund interaction (do not send the RBS form to the receiving fund).
- Use the RBS only to provide a statement to the member in section B within 30 days of paying the rollover.
- Keep a copy of the member statement in your records for five years.