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Ashley

Medallion Signature Guarantee for Contract Exchange

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I am attempting to use an online medallion signature guarantee for 403b contract exchange paperwork. I must enter the account value for surrounding account. Does anyone know if I use the total balance or the surrender value. Thank you!

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Sorry no one has stepped in to help sooner . You probably have your answer by now. I would imagine this is a question you could ask the company you are transferring  to.

 

Tony

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Tony, I think the medallion signature is usually required by the company "giving up" the funds, not the one receiving them. I would give the surrendering company a call. The money being transferred would be the net amount after the surrender fee is subtracted. 

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7 hours ago, krow36 said:

Tony, I think the medallion signature is usually required by the company "giving up" the funds, not the one receiving them. I would give the surrendering company a call. The money being transferred would be the net amount after the surrender fee is subtracted. 

Well, either way I would think someone in either company  would tell her /know the answer if she asked.  But I didn't really know just a guess . Never had to go that route. But I  get it , the company transferring your money out wants verification that you are who you say you are. It confirms that the signature authorizing the transfer is genuine  . But I would think both companies would want that info.

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It confused me. A relative's Vanguard incoming transfer form had a place for a Med. Sig. but when called

they said they didn't require it, that it was up to outgoing American Funds. AF said they didn't need it if the amount was less than 250k. They might have both required it for larger amounts? I agree that a phone calls to the main offices needs to be made.

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I've  had lots of 403b  transfers  over the years and not once was the medallion required.  I do remember seeing it on An American Funds transfer request sheet but I never had to get the guarantee.  I'm glad I finally have all my money in one place now. Getting money out of past 403b plans  always was a pain in the rear. But that's what you have to do in a 403b as better options come available. Totally out of all 403b's now and glad!!  But you do learn a lot dealing with the 403b disfunction. I've been through it all!!

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I had to get the medallion signature on one of my exchanges moved from an annuity over to Vanguard, but not the 2nd time I did it (smaller amount).  I'm pretty sure it was the company I was leaving that required it.

 

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