FAQ
The Safe Harbor sample methodology is the scientific methodology, as
described in the IRS’ Qualified Intermediary Agreement, required to determine
the size of the account sample required for a Periodic Review. Based on the
total number of accounts that has had QI activity in the chosen Review Year,
this complex calculation works out the number of accounts in total that need to
be reviewed in order to assess whether there are any procedural issues within
the total account population
This is the prescribed method by the IRS, as per the Qualified Intermediary
Agreement.
If you just need a one off sample calculation, you can pay as you go and just
purchase a single one for <insert price>. If you have several reviews booked in,
or are anticipating that you will need to use the sample calculator several more
times in the near future, you can buy a discounted bundle of 5 calculations for
<inserts price>. After you have purchased them, they will stay as credits on
your account, and when you go to pay for the next calculation, you can simply
use an existing credit instead.
You can download your output in a spreadsheet (Excel, Google Sheets), a csv
file, or in a pdf file – or all 3, depending on your needs. We would recommend a
spreadsheet version for your practical start on obtaining more information
about the chosen sample accounts, and a pdf version to attach to the back of
your factual report of information from the Periodic Review once it is ready to
be sent to your QI client.
The calculator has been designed to recognise the key words/description for
account strata lists and values, in order to perform its calculation. You can
create your own template in any of the listed formats, as long as the headers
and tab names match the template exactly.
If you have outstanding credits and don’t think you will use them, please get in
touch with Hartford Consulting to discuss your options <insert contact details>
Once a sample has been calculated it cannot be changed. IF you need to
correct something in the upload, then you will need to start the process from
scratch again. You should double check your input file before proceeding with
payment and downloading the final output.
Sure, you can contact Hartford Consulting on <insert contact details>