Understanding Maryland Form 746 and the tax implications associated with it can be complicated. Whether you're looking to learn more about the basics of this document, navigate changes in its annual forms, or become an expert on everything related to Maryland's form for individual income taxes, we have your guide right here. In this blog post, we'll provide answers to common questions about Maryland Form 746—from how long it takes to file and when payments are due to how certain credits might impact your filing status or final tax bill. We will also discuss popular topics related to this document like extensions and refunds so that you feel confident navigating all aspects of completing your return successfully. So strap in: You're getting ready for a primer on understanding Maryland Form 746!
| Question | Answer |
|---|---|
| Form Name | Maryland Form 746 |
| Form Length | 1 pages |
| Fillable? | No |
| Fillable fields | 0 |
| Avg. time to fill out | 15 sec |
| Other names | md state retirement forms, maryland form 746, marylasd state retirement form 746, maryland form 746 safe notice |
STATE RETIREMENT AGENCY 120 EAST BALTIMORE STREET BALTIMORE, MARYLAND 21202
ACKNOWLEDGEMENT OF RECEIPT OF SAFE HARBOR NOTICE AND AFFIRMATIVE ELECTION
FOR RETIREMENT USE ONLY FORM 746 (REV. 4/03)
Name: |
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Soc. Sec. No. : |
The Internal Revenue Service has advised the State Retirement Agency (the "Agency") that it must provide you with the Safe Harbor Tax Notice entitled "SPECIAL TAX NOTICE REGARDING PLAN PAYMENTS" no earlier than 90 days and no later than 30 days before a payment is made to you. If, after receiving the Safe Harbor Tax Notice, you affirmatively choose to make or not make a direct rollover, then the distribution may be made to you even if the 30 day period has not expired.
So that you are not required to wait 30 days after receipt of the Tax Notice, the Agency will make the distribution in accordance with Agency procedures to you or to the trustee of your traditional IRA or Eligible Employer Plan upon receipt of this form signed by you to evidence your agreement to the following matters:
1.That you have received the Safe Harbor Tax Notice entitled "SPECIAL TAX NOTICE REGARDING PLAN PAYMENTS" from the Agency;
2.That you have had an opportunity to review it with your tax advisor, accountant, attorney or the IRS and understand your options with respect to receipt of a distribution from the Agency at this time;
3.That you affirmatively chose to make or not make a direct rollover by executing the appropriate Agency form; and
4.That you request the Agency to make a distribution of the funds in accordance with your instructions and you understand that the payment may be made less than 30 days after you received the Safe Harbor Tax Notice.
If you have any questions about this form, before signing it, telephone a retirement benefits counselor at
ALL OF THE ABOVE IS AS AGREED:
Signature:Date:
Address: