Qdro Filing Responsibility
who is responsible for filing a qdro
A Qualified Domestic Relations Order (QDRO) is a legal document that divides retirement plans in a divorce. Filing it correctly is crucial for both parties.
Primary Responsibility
The responsibility for filing a QDRO typically falls on the divorcing parties or their attorneys. The court must approve the QDRO before it is sent to the plan administrator.
- Attorneys often draft and file the QDRO
- Courts review and approve the document
- Plan administrators implement the division
Importance of Timely Filing
Filing the QDRO promptly ensures that retirement assets are divided as per the divorce decree. Delays can lead to complications and financial losses.
Both parties should work together to ensure the QDRO is accurate and filed on time. Consulting with a QDRO specialist can help avoid errors.