Houston, TX asked in Banking, Business Law, Gov & Administrative Law and Government Contracts

Q: search for retirement and 401K's. Got one. One America Bank/ One America Retirement Services. Resisting. Force them file

They have not filed a IRS FORM 8955 for Deferred Vested Benefits. They are stonewalling me. Sent me a form to be signed and notarized.

Claim it was not received. Form 8955 has an

exemption for old accounts, not required to file.

Need to force them to file form 8955. Or give me my funds. This company merged and then dissolved. US Government contract. US had to fund the retirement. Everything is a dead end. Boeing Aerospace Operations Houston, merged into United Space Alliance. I was vested in the Boeing retirement. United Space Alliance dissolved after the space shuttle program ended.

1 Lawyer Answer
James L. Arrasmith
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  • Business Law Lawyer
  • Sacramento, CA

A: Dealing with retirement funds, especially when it involves companies that have undergone mergers or dissolution, can be incredibly complex. When a financial institution like One America Retirement Services is not cooperating in filing necessary forms such as the IRS Form 8955 for Deferred Vested Benefits, it can feel like hitting a wall. This form is crucial as it reports information about participants who have separated from service with deferred vested benefits.

If you are encountering resistance in getting your retirement funds or the necessary paperwork filed, it's important to know your rights. The requirement to file Form 8955-SSA can vary, but if you believe you are owed benefits, persistence is key. Sending documents via certified mail can provide proof of delivery, and if they claim not to have received something, you have evidence to the contrary.

If direct communication with the retirement service provider is not yielding results, consider escalating the issue. This can involve reaching out to regulatory bodies such as the Department of Labor (DOL) or the Internal Revenue Service (IRS), which oversee retirement plans and their compliance with federal laws. Explaining your situation to these agencies can help apply the necessary pressure on the retirement service provider to fulfill their obligations, whether it's filing the required forms or releasing your funds.

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