Statutory Power Of Attorney For Finances And Property

(d) Prepare, file, and maintain a claim of the

(b) Make a rollover, including a direct

principal for a benefit or assistance, financial or

trustee−to−trustee rollover, of benefits from one

otherwise, to which the principal may be entitled

retirement plan to another.

under a statute, rule, or regulation.

(e) Initiate, participate in, submit to alternative

name.

dispute resolution, settle, oppose, or propose or

(d) Make contributions to a retirement plan.

accept a compromise with respect to litigation

(e) Exercise investment powers available under a

concerning any benefit or assistance the principal

retirement plan.

may be entitled to receive under a statute, rule, or

regulation.

(f) Borrow from, sell assets to, or purchase assets

from a retirement plan.

(f) Receive the financial proceeds of a claim

described in par. (d) and conserve, invest,

disburse, or use for a lawful purpose anything so

244.56 Taxes. Unless the power of attorney

received.

otherwise provides, language in a power of attorney

granting general authority with respect to taxes

authorizes the agent to do all of the following:

244.55 Retirement plans. (1) In this section,

“retirement plan” means a plan or account created

(1) Prepare, sign, and file federal, state, local, and

by an employer, the principal, or another individual

foreign income, gift, payroll, property, Federal

to provide retirement benefits or deferred

Insurance Contributions Act, and other tax returns,

compensation of which the principal is a participant,

claims for refunds, requests for extension of time,

beneficiary, or owner, including the following plans

petitions regarding tax matters, and any other

or accounts:

tax−related documents, including receipts, offers,

waivers, consents, including consents and

(a) An individual retirement account under section

agreements under 2032A of the Internal Revenue

408 of the Internal Revenue Code.

Code, closing agreements, and any power of

(b) A Roth individual retirement account under

attorney required by the Internal Revenue Service

section 408A of the Internal Revenue Code.

or other taxing authority with respect to a tax year

upon which the statute of limitations has not run

section 408 (q) of the Internal Revenue Code.

and the following 25 tax years.

(d) An annuity or mutual fund custodial account

(2) Pay taxes due, collect refunds, post bonds,

under section 403 (b) of the Internal Revenue

receive confidential information, and contest

Code.

deficiencies determined by the Internal Revenue

Service or other taxing authority.

(e) A pension, profit−sharing, stock bonus, or other

retirement plan qualified under section 401 (a) of

(3) Exercise any election available to the principal

the Internal Revenue Code.

under federal, state, local, or foreign tax law.

(f) A plan under section 457 (b) of the Internal

(4) Act for the principal in all tax matters for all

Revenue Code.

periods before the Internal Revenue Service, or

other taxing authority.

(g) A nonqualified deferred compensation plan

under section 409A of the Internal Revenue Code.

(2) Unless the power of attorney otherwise

provides, language in a power of attorney granting

general authority with respect to retirement plans

authorizes the agent to do all of the following:

(a) Select the form and timing of payments under a

retirement plan and withdraw benefits from a plan.

Page 7

Power of Attorney for Finances Appendix – Statutory Authority Definitions

Statutory Power Of Attorney For Finances And Property - Wisconsin Page 15

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