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14	14	[[image:Section 14 Transfer Process_html_8cba33b1e8c9fa24.gif||height="128" width="463"]]
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16	16	{{info}}
17		-(% style="text-align: center;" %)
	17	+(% style="break-before: page; text-align: center;" %)
18	18	(% style="color:#2980b9; font-size:20px" %)**TABLE OF CONTENTS**
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29	29	== (% style="color:#2980b9" %)**Introduction**(%%) ==
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43		-(% style="text-align: center;" %)
	43	+(% style="break-before: page; text-align: center;" %)
44	44	== (% style="color:#2980b9" %)**Section 14 Process for an Individual Member**(%%) ==
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48		-(% style="color:#2980b9" %)**Section 14 where the member is invested in a Managed Fund**
	48	+=== (% style="color:#2980b9" %)**Section 14 where the member is invested in a Managed Fund**(%%) ===
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50	50	Generate a Member Statement and ensure that all transactions have been completed and priced. Exit the member using the standard Member Exit Batch. Ensure that the workflow process is completed in full. The Disinvestment Process, which is part of the workflow MUST be done to ensure that the investable portion is moved to Bank for payment. Tax must be applied for on all Section 14 Transfers, in line with SARS’ rules. Payment is then made to the receiving Fund.
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53		-(% style="color:#2980b9" %)**Section 14 where the member is invested in a Unitized Fund**
	53	+=== (% style="color:#2980b9" %)**Section 14 where the member is invested in a Unitized Fund**(%%) ===
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55	55	Generate a Member Statement and ensure that all transactions have been completed and priced. Exit the member using the standard Member Exit Batch. Ensure that the workflow process is completed in full. The Disinvestment Process, which is part of the workflow MUST be done to ensure that the investable portion is moved to Bank for payment. Execute the transaction in Market and ensure that the transaction is priced before continuing. Tax must be applied for on all Section 14 Transfers, in line with SARS’ rules. Payment is then made to the receiving Fund.
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60	60	== (% style="color:#2980b9" %)**Bulk Section 14 Process**(%%) ==
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162	162	The member records now appear in (% style="color:#e74c3c" %)RED(%%) with an exit date and an exit type.
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167	167	[[image:1633328086509-533.png]]
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176	176	A report will generate confirming which benefits have been populated for payment. Only benefits where tax has been received back will be populated. The report will clearly highlight which members are ready for payment and which are not.
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180	180	(% style="text-align:center" %)
181	181	[[image:1633328312880-362.png]]
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184	184	Click on the (% style="color:#2980b9" %)__**cflo**__(%%) button on the member record. A line would have been created for payment.
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190	190	[[image:1633328484167-380.png]]
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201	201	(% style="text-align:center" %)
202		-[[image:1633328582529-671.png]]
	200	+[[image:1633328582529-671.png||height="189" width="466"]]
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354	354	The tax information will be populated along with the transfer details contained in the file and under System Bank Accounts. The tax application will need to be submitted to SARS and a response is required before processing with payment.
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356		-The member records now appear in(% style="color:#e74c3c" %) RED(%%) with an exit date and an exit type.
	354	+The member records now appear in(% style="color:#e74c3c" %) RED(%%) with an exit date and an exit type.
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387	387	(% style="text-align:center" %)
388		-[[image:1633328582529-671.png]]
	386	+[[image:1633328582529-671.png||height="189" width="466"]]
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410	410	== (% style="color:#2980b9" %)**Disclaimer and Copyright**(%%) ==
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