Individuals
Institutions
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Rollover IRA

Mortgages/Deed of trust InvesTing timeline 

A mortgage/deed of trust is considered a private placement. Below is the timeframe for investing in a private placement. To download a PDF version, click on the printable Private Placement Investment Timeline. 
 


2-4 Weeks
Sponsor: Create an Entity
  • Work with your legal counsel to insure that the entity's Operating Agreement has appropriate language for the IRA investor including: suitability statement, leverage and tax implications, prohibited transactions, disqualified persons, administrative responsibilities and plan asset rules.

NOTE: Investments in Single member LLCs will not be accepted by Millennium Trust (MTC) – consider appointing a tax or legal professional as your Administrative Co-Manager who will have 'Checkbook Control' for the entity.

2-5 Days
Sponsor: Submit Operational Assessment
  • Complete MTC's Private Placement Certification form and submit to MTC along with copies of the Offering Memorandum and Subscription Agreement.1
  • MTC's Operational Assessment of a completed investment package takes approximately 2 to 5 business days.

1 Note: Draft copies of offering memorandums will not be accepted.

5-7 Days
Investor: Consult with Advisor
  • Schedule time to meet with an advisor to understand any tax, legal or investment issues related to the use of IRA funds to invest in Private Placements.
  • Important Publications: IRS 590, IRAs IRS 598, UBIT IRC 4975, Prohibited Transactions DOL Plan Asset Rules.
1-2 Days
Investor: Account Setup
  • If IRA funds are not received, MTC follows up
    • Complete IRA Adoption Agreement and Transfer or Rollover form.
    • Sign where indicated.
    • Include a copy of a recent statement from your current custodian or retirement plan.
    • Mail to MTC for processing. (Faxes or photocopies are not accepted.)
2-4 Weeks
Investor: Account Funding By Transfer
  • Transfer - Custodian to custodian transfer can take 2-4 weeks.
  • Rollover from a previous employer's plan can take 5-10 days.
  • Annual contribution made by personal check.
NOTES:
  • Clearing time on checks is 5 business days from deposit.
  • Investments requested during 7-day revocation period must have additional client approval.
2-3 Days
Investor: Making the Investment
  • Review the Investment Documents, complete the Subscription Agreement and MTC's Private Placement Investment Direction.
  • Submit all documents to MTC for processing.
  • Upon receipt of documents in good order and once funds are cleared and available, investment will be placed within 1 business day.