Sara L Newman sent a message to William H. Rogers, Jr. - Chairman, President and Chief Executive Officer of SunTrust Banks - Email Address that said:
IRA CD matured September 2014 I called Brittany Dyson, branch manager Thomson branch to renew. Rates were low, so Brittany suggested I rollover into money market IRA until I decided. I thought this was done and didnt think anymore about transaction. In December 2016 I received letter from IRS stating we owed approximately $4500 in additional taxes, penalties and interest for money not reported on 2014 taxes. I have talked with Brittany and she stated she would correct the banks paperwork. She had checked the wrong box and put the money into a regular money market and not the IRA money market as We talked about. Now she tells me there is nothing she can do to correct her error. I am contacting you in hopes SunTrust will stand beside me. I have banked with ST for almost 40 years. I know you have a strong code of conduct to treat all customers fairly. The staff is trained and informed on banking rules and regulations. She made a simple mistake and the bank should not expect me to absorb this financial burden from IRS caused by her error. IRS stated I would also receive a letter from State of GA for the same issue. I dont know how much those additional taxes, penalties, and interest will be from GA. There will be early withdrawal penalty from IRA. I did not want my money withdrawn from IRA, but rolled over into money market IRA. I always told Brittany, Dont do anything that will hurt my taxes! Now I am being billed from IRS and am losing almost one third of IRA in additional taxes, penalties, and interest! I need help resolving this! If ST cannot go back and change paperwork then they should be responsible for paying all money owed to IRS and State of Ga. and restore money to an IRA account I wouldnt have this problem if ST employee had not made this
error. Your help is greatly appreciated. Please refer to your correct department to resolve the situation just like it never happened ! Thank you for understanding.
Sara L Newman
452 McManus Road
Norwood, GA 30824
706-465-1723
