Policy Level Withholding

The Policy level Withholding screen is configured in the Rules Palette.  From the Global Rules Explorer tab, open the Business Rules>Screen folder.  Scroll down to the WithholdingScreen.xml file and open it in the Configuration Area.  The Withholding screen is configured using the XML Source pane.  

Please see the V9 XML Configuration topic in this help system for a list of all elements, attributes and values needed for configuration.  View Business Rules | Screen Rules | Withholding Screen.

You can access the Withholding screen from the Policy link on the Main Menu in the Oracle Insurance Policy Administration (OIPA) system.  Once you open a Variable Annuity policy, the Withholding link will be listed in the Left Navigation Menu.  

Withholding Detail

An explanation of the fields on the Withholding Detail portion of the Withholding Screen is given below.

• Federal Percent - percent of disbursements that should be held for federal taxes.  

• Federal Amount:  dollar amount that should be held for federal taxes.

Note:  If you enter a federal percent, you cannot also enter a federal amount.  They are mutually exclusive.

• State Percent - percent of disbursements that should be held for state taxes.  

• State Amount:  dollar amount that should be held for state taxes.

Note:  If you enter a state percent, you cannot also enter a state amount.  They are mutually exclusive.