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Employee Termination/Distribution

Application For Benefits - This form should be used for a terminated plan participant to elect the form and timing of any benefit to be distributed to them.
 
Tax Notice - This notifies the plan participant of the distribution options regarding rollover and the tax consequences of the various options.
 
Waiver Of 30 Day Notice - This form allows the participant to receive their benefit prior to 30 days from the date they complete the Application For Benefits.  Without this waiver, the benfit payment may be delayed.
 
Election For Direct Rollover To IRA - Use this form for a participant to elect to roll their distribution directly to an IRA.  No income tax will be withheld and no excise tax will be payable.
 
Election For Direct Rollover To Plan - Use this form for a participant to elect to roll their distribution directly to another qualified retirement plan other than an IRA.  No income tax will be withheld and no excise tax will be payable.
 
Participant Release Agreement - Use this form to have the plan participant acknowledge receipt of their benefit.
 

Employee Loan

Loan Application - This is the first step in the loan process.  The employee should complete the application, the plan trustee and a witness should sign it and it should then be returned to BCG.  The spouse of the participant, if any, must also sign the application and the signature must be either notorized or witnessed by a plan representative.
 
Irrevocable Pledge And Assignment - This is for the participant to designate the plan benefit as the collateral for the loan.
 
Promissory Note - This spells out the terms of the loan.
 

Miscellaneous

Proposal Request Form - Use this to request a pension, profit sharing, 401(k), defined benefit or 412(i) proposal.  This includes an employee census data gathering form.
 
Employer Information - This is to allow us to collect information about a new client
 
New 401(k) Plan - This is to allow us to collect plan provisions for a new 401(k) plan.
 
Fidelity Bond - This to collect information regarding the plan's fidelity bond as required under ERISA.  The bond must be constantly maintained for an amount at least equal to 10% of the plan's assets.  The bond does not have to be increased beyond $500,000.
 
Required Distribution Waiver - This is required for a plan participant that reaches age 70 1/2 and elects to defer receiving their plan benefits until a later date.  Without this waiver, the plan must begin distributions at age 70 1/2.