Self-Directed IRA and Alternative Assets

The Smart Alternative

Meet your investment goals and save for the retirement you want. Our self-directed IRAs give you the control and flexibility you need to manage your own diversified portfolio of both traditional and alternative assets.

Who is Millennium Trust Company?

Investors have increasingly come to view alternative assets as a necessary ingredient in creating a diversified portfolio. We bring over a decade of experience and a thorough understanding of the complexities involved in providing custody for a broad range of assets to each client relationship.

Learn more about MTC

Self-Directed IRAs

A self-directed IRA is a tax-advantaged account that gives you complete control over the management of your retirement assets. You can choose from a wide range of assets as you direct all of the investment decisions on behalf of your account. Before you invest, it is important to educate yourself on IRA guidelines and investing in alternative assets.

Self-Directed IRA GuidelinesInvestor Awareness

What types of assets do you custody?

While many financial institutions custody stocks, bonds, and mutual funds, we are one of the few independent trust companies that custody both alternative and traditional assets.

What is private equity/debt?

Investors may wish to provide capital to private businesses. The investor may become a company owner (equity investor) or a company creditor (debt investor), depending on how the agreement is structured. The funding provided may help start a new business, provide an existing firm with additional capital, finance the acquisition of a company, or something else entirely. In general, private equity/debt is less liquid that than public equity/debt.

Private Equity
Investments are most often made by investing in a pooled investment vehicle that invests in private companies (Private Equity Funds) or through direct purchase of private company stock.

Private Debt
Investments are most often made indirectly by investing in a pooled investment vehicle (or fund) that invests in loans or other debt instruments, or directly by lending. Included in these types of investments are secured and unsecured Promissory Notes and Mortgage/Deeds of Trust.

Millennium Trust does not recommend any particular investment or asset category. Investors are urged to speak with a tax or investment advisor before investing.

How to start investing
Step 1: Submit Assessment Docs

In order for Millennium Trust to custody an Alternative Investment, we must first perform an Operational Assessment to determine that the investment is administratively feasible for an account and to ensure proper custody. Millennium does not evaluate or perform due diligence on any investment or investment sponsor.

Documents required for the private equity/debt assets vary by investment type. Download the Operational Assessment reference sheet to view the list of required Millennium Trust forms and additional documents.
Download Operational Assessment Fact Sheet

The investment sponsor or fund sponsor completes the Private Placement Certification. They can submit it either by mail, fax to 630-472-5969 or e-mail to oa@mtrustcompany.com. This step takes up to 5 business days once we receive all the necessary documents.
Download Private Placement Certification

For Private Debt assets only:
Download Note Servicing Agreement Download Mortgage/Deed of Trust Authorization
 

Step 2: Open and fund an account

All new accounts must go through a 7-day revocation period before an investment can be made. If you have an existing account with Millennium Trust and you want to custody the asset in the same account, proceed to step 3.

You can open an account by completing our online account application. Contact us if a paper version is needed.

  • For transfers-in-kind, you must submit a copy of your most recent statement from the current custodian reflecting the asset.
  • For rollovers-in-kind, you must submit Millennium's 60-Day Asset Rollover Request along with stated required documentation.
    Online account application
Step 3: Submit Investment Docs

In order for Millennium Trust to process a transaction for an account, specific documentation is required.

Documents required for the private equity/debt assets vary by investment type. Download the Alternative Asset Transactions reference sheet to view the list of required Millennium Trust forms and additional documents.
Download Alternative Asset Transaction Fact Sheet

Once you have completed and signed Millennium Trust’s purchase direction form, gather any additional documentation and send to us for processing.
Download Private Placement Purchase Direction

For Private Debt assets only:
Download Note Servicing Agreement Download Mortgage/Deed of Trust Authorization
 

How long will it take?

Private Placement Investing Timeline

Sponsor: Submit Operational Assessment 2-5 Business Days

Complete MTC's Private Placement Certification form and submit to MTC along with copies of the Offering Memorandum and Subscription Agreement for MTC's Operational Assessment.
 

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

Investor: Account Setup 1-2 Business Days
  • 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.)
Investor: Account Funding 2-4 Weeks
  • Transfer - Custodian-to-custodian transfer can take 2-4 weeks.
  • Rollover from a previous employer's plan can take 5-10 business days.
  • Annual contribution may be made by personal check.

Note:

  • Clearing time on checks is 5 business days from deposit.
  • Investments requested during 7-day revocation period must have additional client approval.
Investor: Making the Investment 2-3 Business Days
  • Review the Investment Documents, complete the Subscription Agreement and MTC's Private Placement Purchase 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.

Private Placement Investing Timeline

Sponsor: Submit Operational Assessment 2-5 Business Days

Complete MTC's Private Placement Certification form and submit to MTC along with copies of the Offering Memorandum and Subscription Agreement for MTC's Operational Assessment.
 

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

Investor: Account Setup 1-2 Business Days
  • 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.)
Investor: Account Funding 2-4 Weeks
  • Transfer - Custodian-to-custodian transfer can take 2-4 weeks.
  • Rollover from a previous employer's plan can take 5-10 business days.
  • Annual contribution may be made by personal check.

Note:

  • Clearing time on checks is 5 business days from deposit.
  • Investments requested during 7-day revocation period must have additional client approval.
Investor: Making the Investment 2-3 Business Days
  • Review the Investment Documents, complete the Subscription Agreement and MTC's Private Placement Purchase 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.

What are traditional investments?

Traditional investments are typically publicly traded assets and include stocks, bonds, mutual funds, CDs and exchange-traded funds.

Millennium Trust does not recommend any particular investment or asset category. Investors are urged to speak with a tax or investment advisor before investing.

How to start investing
Step 1: Open and fund an account

All new accounts must go through a 7-day revocation period before an investment can be made. If you have an existing account with Millennium Trust and you want to custody the asset in the same account, proceed to step 2.

You can open an account by completing our online account application. Contact us if a paper version is needed.

  • For transfers-in-kind, you must submit a copy of your most recent statement from the current custodian reflecting the asset.
  • For rollovers-in-kind, you must submit Millennium's 60-Day Asset Rollover Request along with stated required documentation.
    Online account application
Step 2: Set up online access

To trade online, you must have access to Millennium Trust Online and have requested trading access. If you do not currently have online or trading access and would like to add it, complete a web access request found in our Forms library.
Forms

Step 3: Direct Investment

Millennium Trust offers two ways for account holders to trade Stocks, Mutual Funds, and Exchange Traded Funds (ETFs) – online and by phone.

  • You can trade online during market hours: 8:30 a.m. – 3:00 p.m. CT, Monday through Friday except for stock market holidays.
  • To place a trade via phone, please call 1.800.258.7878, option 7 during normal trading hours.

Bonds and CDs can only be traded via phone.

  • Hedge Funds

    What is a hedge fund?

    A hedge fund is a type of private fund that pools investor assets to pursue a specific investment strategy (such as long-short equity, market neutral, or relative value). Typically, the objective of a hedge fund is to generate absolute returns i.e. limit market risk while seeking to generate positive returns in all market conditions.

    Millennium Trust does not recommend any particular investment or asset category. Investors are urged to speak with a tax or investment advisor before investing.

    How to start investing
    Step 1: Submit Assessment Docs

    In order for Millennium Trust to custody an Alternative Investment, we must first perform an Operational Assessment to determine that the investment is administratively feasible for an account and to ensure proper custody. Millennium does not evaluate or perform due diligence on any investment or investment sponsor.

    The investment sponsor or fund sponsor completes the Private Placement Certification along with the documents listed below. They can submit them either by mail, fax to 630-472-5969 or e-mail to oa@mtrustcompany.com. This step takes up to 5 business days once we receive all the necessary documents.

    Download Private Placement Certification

    ✓ Offering Memorandum
    ✓ Subscription Document
    ✓ Partnership Agreement (if applicable)
    ✓ All exhibits or addendums
    ✓ Check/Wire instructions for investment
    ✓ Operating Agreement (if applicable)
    ✓ Form D filing (if applicable)
    ✓ Certificate of Good Standing

    Step 2: Open and fund an account

    All new accounts must go through a 7-day revocation period before an investment can be made. If you have an existing account with Millennium Trust and you want to custody the asset in the same account, proceed to step 3.

    You can open an account by completing our online account application. Contact us if a paper version is needed.

    • For transfers-in-kind, you must submit a copy of your most recent statement from the current custodian reflecting the asset.
    • For rollovers-in-kind, you must submit Millennium's 60-Day Asset Rollover Request along with stated required documentation.
      Online account application
    Step 3: Submit Investment Docs

    In order for Millennium Trust to process a transaction for an account, specific documentation is required. Once you have completed and signed Millennium Trust’s purchase direction form, gather any additional documentation and send to us for processing.

    Download Private Placement Purchase Direction

    ✓ Completed and signed Subscription Document
    ✓ Check/Wire instructions signed by client - if funds are not going directly to investment

    How long will this take?

    Hedge Fund Investing Timeline

    Sponsor: Submit Operational Assessment 2-5 Business Days

    Complete MTC's Private Placement Certification form and submit to MTC along with copies of the Offering Memorandum and Subscription Agreement for MTC's Operational Assessment.
     

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

    Investor: Account Setup 1-2 Business Days
    • 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.)
    Investor: Account Funding 2-4 Weeks
    • Transfer - Custodian-to-custodian transfer can take 2-4 weeks.
    • Rollover from a previous employer's plan can take 5-10 business days.
    • Annual contribution may be made by personal check.

    Note:

    • Clearing time on checks is 5 business days from deposit.
    • Investments requested during 7-day revocation period must have additional client approval.
    Investor: Making the Investment 2-3 Business Days
    • Review the Investment Documents, complete the Subscription Agreement and MTC's Private Placement Purchase 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.
  • Private Equity / Debt

    What is private equity/debt?

    Investors may wish to provide capital to private businesses. The investor may become a company owner (equity investor) or a company creditor (debt investor), depending on how the agreement is structured. The funding provided may help start a new business, provide an existing firm with additional capital, finance the acquisition of a company, or something else entirely. In general, private equity/debt is less liquid that than public equity/debt.

    Private Equity
    Investments are most often made by investing in a pooled investment vehicle that invests in private companies (Private Equity Funds) or through direct purchase of private company stock.

    Private Debt
    Investments are most often made indirectly by investing in a pooled investment vehicle (or fund) that invests in loans or other debt instruments, or directly by lending. Included in these types of investments are secured and unsecured Promissory Notes and Mortgage/Deeds of Trust.

    Millennium Trust does not recommend any particular investment or asset category. Investors are urged to speak with a tax or investment advisor before investing.

    How to start investing
    Step 1: Submit Assessment Docs

    In order for Millennium Trust to custody an Alternative Investment, we must first perform an Operational Assessment to determine that the investment is administratively feasible for an account and to ensure proper custody. Millennium does not evaluate or perform due diligence on any investment or investment sponsor.

    Documents required for the private equity/debt assets vary by investment type. Download the Operational Assessment reference sheet to view the list of required Millennium Trust forms and additional documents.
    Download Operational Assessment Fact Sheet

    The investment sponsor or fund sponsor completes the Private Placement Certification. They can submit it either by mail, fax to 630-472-5969 or e-mail to oa@mtrustcompany.com. This step takes up to 5 business days once we receive all the necessary documents.
    Download Private Placement Certification

    For Private Debt assets only:
    Download Note Servicing Agreement Download Mortgage/Deed of Trust Authorization
     

    Step 2: Open and fund an account

    All new accounts must go through a 7-day revocation period before an investment can be made. If you have an existing account with Millennium Trust and you want to custody the asset in the same account, proceed to step 3.

    You can open an account by completing our online account application. Contact us if a paper version is needed.

    • For transfers-in-kind, you must submit a copy of your most recent statement from the current custodian reflecting the asset.
    • For rollovers-in-kind, you must submit Millennium's 60-Day Asset Rollover Request along with stated required documentation.
      Online account application
    Step 3: Submit Investment Docs

    In order for Millennium Trust to process a transaction for an account, specific documentation is required.

    Documents required for the private equity/debt assets vary by investment type. Download the Alternative Asset Transactions reference sheet to view the list of required Millennium Trust forms and additional documents.
    Download Alternative Asset Transaction Fact Sheet

    Once you have completed and signed Millennium Trust’s purchase direction form, gather any additional documentation and send to us for processing.
    Download Private Placement Purchase Direction

    For Private Debt assets only:
    Download Note Servicing Agreement Download Mortgage/Deed of Trust Authorization
     

    How long will it take?

    Private Placement Investing Timeline

    Sponsor: Submit Operational Assessment 2-5 Business Days

    Complete MTC's Private Placement Certification form and submit to MTC along with copies of the Offering Memorandum and Subscription Agreement for MTC's Operational Assessment.
     

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

    Investor: Account Setup 1-2 Business Days
    • 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.)
    Investor: Account Funding 2-4 Weeks
    • Transfer - Custodian-to-custodian transfer can take 2-4 weeks.
    • Rollover from a previous employer's plan can take 5-10 business days.
    • Annual contribution may be made by personal check.

    Note:

    • Clearing time on checks is 5 business days from deposit.
    • Investments requested during 7-day revocation period must have additional client approval.
    Investor: Making the Investment 2-3 Business Days
    • Review the Investment Documents, complete the Subscription Agreement and MTC's Private Placement Purchase 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.
  • Real Estate / Real Assets

    What are real assets?

    Real assets include land, buildings, machines, commodities, and other tangible goods. Like many alternative investments, real assets tend to have a low correlation to traditional investments. Real assets tend to be less liquid that than publicly traded investments.

    Real Estate
    There are many ways to own real estate. An investor could purchase a rental property, join a real estate investment group, or buy shares of a real estate investment trust. Investors may choose to invest in multifamily, office, industrial, retail, hotels, healthcare, or other types of commercial real estate.

    Precious Metals
    Most investors are familiar with precious metals, such as gold, silver, palladium, platinum, etc. However, many don’t realize that while you can gain exposure to precious metals through stocks, exchange-traded funds, mutual funds, futures and options markets, it is also possible to hold certain physical precious metals, like bullion bars, within an IRA. Please go to our Forms library to download the appropriate precious metals investment forms.

    Millennium Trust does not recommend any particular investment, asset category or dealer. Investors are urged to conduct their own due diligence and speak with a tax or investment advisor before investing IRA funds.

    How to invest in Real Estate
    Step 1: Open and fund an account

    All new accounts must go through a 7-day revocation period before an investment can be made. If you have an existing account with Millennium Trust and you want to custody the asset in the same account, proceed to step 2.

    You can open an account by completing our online account application. Contact us if a paper version is needed.

    • For transfers-in-kind, you must submit a copy of your most recent statement from the current custodian reflecting the asset.
    • For rollovers-in-kind, you must submit Millennium's 60-Day Asset Rollover Request along with stated required documentation.
      Online account application

    Note: For Real Estate rollovers-in-kind, a formal appraisal from the state-certified appraiser must be submitted. Refer to our Real Estate Valuation form for further details. For deed registration, refer to our Real Estate Investment Direction.
    Real Estate Valuation Real Estate Investment Direction

    Step 2: Make an offer to purchase

    The offer should be made in the name of your Millennium Trust account. Refer to Millennium's Real Estate Investment Direction for instructions. Millennium will sign on the buyer's line on behalf of your account. Copies of the document must be signed by the account holder as "Read & Agreed" on the last page and initialed on all other pages.

    Personal funds cannot be used for the deposit or earnest money. All expenses related to the investment must come from your Millennium account.

    Note: We do not allow for investing in foreign Real Estate.

    Step 3: Submit Assessment Docs

    In order for Millennium Trust to custody an Alternative Investment, we must first perform an Operational Assessment to determine that the investment is administratively feasible for an account and to ensure proper custody. Millennium does not evaluate or perform due diligence on any investment or investment sponsor.

    Gather the documents listed below and either mail to the address indicated, fax to 630.472.5969 or e-mail to RealEstateAdmin@mtrustcompany.com. This step takes up to 5 business days once we receive all the necessary documents unless an Expedited Service fee is paid for 2-day processing.

    Download Real Estate Investment Direction
    (Indicate amount of earnest money to be sent)
    Download Real Property Servicing Agreement

    ✓ Purchase Contract* - Not to be executed by Account Owner
    ✓ Copy of Current Tax Bill
    ✓ Legal Description of Property*
    ✓ Check/Wire Instructions for Investment
    ✓ Mortgaged Property - All Lender Documents* (if applicable)

    You will be notified once the Operational Assessment has been completed. If acceptable, earnest funds will be released from your Millennium account. You may then proceed with the steps required for Closing.

    * Copies of all documents must be signed by the account holder as "Read & Agreed" on the last page and initialed on all other pages.

    Step 4: Closing Process

    Before closing, the following documents must be submitted to Millennium for review and processing:

    ✓ New Real Estate Investment Direction indicating the amount of Final Closing Costs
    ✓ Settlement Statement*
    ✓ Commitment for Title*
    ✓ Any miscellaneous closing documents*
    ✓ All exhibits and/or addendums
    ✓ Mortgaged Property - original note and all Lender documents* (if applicable)

    Once all documents are submitted and found to be acceptable, Millennium will notify you so that you may schedule the closing. Once scheduled, notify Millennium of the date. Millennium will submit the Final Closing Costs the day of the closing.

    * Copies of all documents must be signed by the account holder as "Read & Agreed" on the last page and initialed on all other pages.

    Step 5: Ongoing Requirements

    The following items are required and can be ongoing even after the closing is complete on the real estate property:

    ✓ The recorded deed must be sent to Millennium for safekeeping.
    ✓ Ongoing expenses and rental income, if applicable, must flow through your Millennium account.
    ✓ For Income Producing Properties a copy to the current Lease or Property Management Agreement must be provided.
    ✓ Any changes in current renters or Property Managers must be communicated to Millennium.
    ✓ Annual Valuations must be supplied to Millennium for all real estate.
    ✓ A Comparative Market Analysis (CMA) will be required.

    How long will it take?

    Real Estate Investing Timeline

    Do the Math 1-2 Business Days

    Calculate total cost of ownership. Include property price, taxes, closing costs and ongoing expenses related to the real estate investment.
     

    Note: All expenses must be paid from the Millennium account.

    Account Setup 1-2 Business Days
    • 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.)
    Account Funding 2-4 Weeks
    • Transfer - Custodian-to-custodian transfer can take 2-4 weeks.
    • Rollover from a previous employer's plan can take 5-10 business days.
    • Annual contribution may be made by personal check.

    Note:

    • Clearing time on checks is 5 business days from deposit.
    • Investments requested during 7-day revocation period must have additional client approval.
    Locate Property & Make Offer Days to Months
    • Make offer to Purchase
    • Operational Assessment must be performed by Millennium to determine that the investment is administratively feasible. Assessment takes 2-5 business days.

    Note: Foreign Real Estate is not allowed.

    Non-recourse Loan Processing 30-45 Days
    • Consider the non-recourse lender's requirements and timeline.
    • Review IRS 598, Unrelated Business Income Tax (UBIT) relating to Unrelated Debt Financed Income (UDFI) with your tax professional.
    Earnest Funds/Closing 30-45 Days
    • Release of funds will be submitted upon the account being funded, all forms/documents in good order & completion of Millennium's Operational Assessment.
    • Millennium as Custodian, will execute the contract on behalf of account and submit funds to escrow agent.
    • Recorded Deed is held in custody by Millennium.
    • All ongoing expenses and rental income must flow through the Millennium account.
  • Commodities / Futures

    What are commodities and commodities futures?

    As a general rule soft commodities are grown (corn, soybeans, wheat) and hard commodities are mined or manufactured (aluminum, copper, natural gas). Investors typically invest in commodities via commodities futures contracts, which give them the right to buy or sell an amount of a commodity at a specific price on a specified future date. Some buy commodities futures to make the cost of doing business more predictable i.e. as a hedge (farmers, airlines); others seek to profit from their commodities trades.

    Millennium Trust is not a Futures Commission Merchant or an Introducing Brokerage Firm and does not hold futures positions or the associated funds to margin, guarantee, secure or settle such positions in any IRA. Millennium Trust does not take or place futures trade orders.

    Step 1: Select FCM and/or IB

    Once you select your Futures Commission Merchant (FCM) and/or introducing brokerage firm, you must determine whether or not Millennium has an existing FCM Agreement with them. Click the link below to view a list of FCMs that we currently have agreements with or e-mail FCMSupport@mtrustcompany.com.

    Download List of FCMs

    If an FCM Agreement is not in place, the FCM you have selected will need to contact Millennium to process the request.

    Step 2: Complete FCM Docs

    Contact your introducing broker or FCM to obtain the documents required to open a new trading account.

    Step 3: Open and fund an account

    You can open an account by completing our online account application. Contact us if a paper version is needed.

    For transfers-in-kind you must submit an IRA-to-IRA Account Transfer Authorization or a Qualified Plan Direct Rollover Authorization form with a copy of your most recent statement from the current custodian reflecting the asset (it must be within the last three months).
    Online account application

    How long will this take?

    Futures Investing Timeline

    Broker Initial Setup & IRA Establishment Process 1-2 Business Days Broker
    • Broker supplies client with necessary MTC and FCM documents to open an account trading in futures or foreign currency.
    • Client completes forms and submits documents to FCM.
    • FCM or the broker forwards documents to MTC along with any other applicable documentation.
    • MTC Futures Client Service executes as custodian, FCM account application and documentation, then forwards to FCM.
    • The FCM opens the trading account and faxes/e-mails confirmation to MTC Futures Client Service.

    MTC

    • MTC reviews MTC forms for completeness.
    • MTC establishes the account and notifies the client via a welcome letter.
    • MTC initiates contact with any previous custodian to transfer assets as applicable.

    Note: Investments requested during the seven (7) calendar day IRA revocation period must have additional client approval.

    Transfer/Rollover Follow-up 5 Business Days If funds are not received, MTC follows up:
    • Account Transfers and IRA Rollovers/ Rollovers from Qualified Plans no less than five (5) business days after processing.

    Note: To expedite the transfer process, we encourage you to liquidate assets prior to submitting the Transfer Form or Qualified Plan Direct Rollover Authorization Form and check with your previous custodian to determine if a Medallion Signature Guarantee is required to transfer funds.

    IRA & Futures/Forex Account Funding 1-2 Business Days Funds are received from the transferring custodian and posted to the MTC account.
    • Funds received by wire are available for investment upon receipt.
    • Funds received by check are available for investment five (5) business days from deposit.

    Funds received without identifying paperwork can cause delays.

    • MTC transfers funds to the new trading account according to client’s direction.
    • FCM notifies the broker that funds are available for trading.
  • Marketplace Loans

    What are marketplace loans?

    Through online credit marketplaces, individuals can lend money to a variety of borrowers for any number of reasons, including credit card refinancing, small business growth, education or real estate. In return, the borrower agrees to pay the loan back, with interest, over a specified period of time. Investors typically invest in multiple loans in order to diversify their loan portfolios and attempt to mitigate default risks. For more information on how to invest, please contact us.

    Millennium Trust does not recommend any particular investment or asset category. Investors are urged to speak with a tax or investment advisor before investing.

    Contact us

  • Traditional Assets

    What are traditional investments?

    Traditional investments are typically publicly traded assets and include stocks, bonds, mutual funds, CDs and exchange-traded funds.

    Millennium Trust does not recommend any particular investment or asset category. Investors are urged to speak with a tax or investment advisor before investing.

    How to start investing
    Step 1: Open and fund an account

    All new accounts must go through a 7-day revocation period before an investment can be made. If you have an existing account with Millennium Trust and you want to custody the asset in the same account, proceed to step 2.

    You can open an account by completing our online account application. Contact us if a paper version is needed.

    • For transfers-in-kind, you must submit a copy of your most recent statement from the current custodian reflecting the asset.
    • For rollovers-in-kind, you must submit Millennium's 60-Day Asset Rollover Request along with stated required documentation.
      Online account application
    Step 2: Set up online access

    To trade online, you must have access to Millennium Trust Online and have requested trading access. If you do not currently have online or trading access and would like to add it, complete a web access request found in our Forms library.
    Forms

    Step 3: Direct Investment

    Millennium Trust offers two ways for account holders to trade Stocks, Mutual Funds, and Exchange Traded Funds (ETFs) – online and by phone.

    • You can trade online during market hours: 8:30 a.m. – 3:00 p.m. CT, Monday through Friday except for stock market holidays.
    • To place a trade via phone, please call 1.800.258.7878, option 7 during normal trading hours.

    Bonds and CDs can only be traded via phone.

What types of IRAs are available?

We provide custody for both personal and employer-sponsored IRAs, giving you a full range of account options to meet your personal retirement objectives or help employees meet theirs. You can also open a taxable account in addition to IRAs.

Traditional IRA

Individuals can contribute up to the annual limit to Traditional IRAs each year. These contributions may be tax-deductible. Any earnings on assets in a Traditional IRA generally grow tax-deferred. Taxes are paid when the investor takes distributions from the account. Distributions are penalty-free after age 59½ and must begin by age 70½.

Traditional IRAs may be attractive to individuals who expect to be in a lower tax bracket during retirement, or those who prefer to defer taxes into retirement.

Roth IRA

Investors who meet specific income criteria can contribute up to the annual limit to Roth IRAs each year. Any earnings on assets in a Roth IRA generally grow tax-free. Qualified account distributions also are tax-free, as long as certain requirements are met. Distributions are penalty-free after age 59 ½. There is no minimum distribution requirement at age 70 ½.

Roth IRAs may be attractive to investors who expect to be in a higher tax bracket during retirement, or those who prefer to preserve assets for later retirement years or future generations.

Simplified Employee Pension (SEP) IRA

An employer, or self-employed individual, can establish a Simplified Employee Pension (SEP) plan and make contributions to SEP IRAs for each employee. These are similar to Traditional IRAs. However, SEP IRAs are funded 100% by the employer; employees do not contribute. The employer must contribute equally to each eligible employee in years contributions are made.

SEP IRAs may be attractive to self-employed individuals who want to save more for retirement than is allowed in Traditional and Roth IRAs or small businesses that want to offer retirement plans without incurring significant administrative costs.

Savings Incentive Match Place for Employees (SIMPLE) IRA

Employers with fewer than 100 employees (including self-employed, sole proprietorships and partnerships) and no other current retirement plan can establish an individual retirement account for each participating employee. SIMPLE IRAs have requirements similar to Traditional IRAs but participants enjoy higher individual contribution limits and the employer is required to make contributions to the plan.

SIMPLE IRAs may be attractive for self-employed professionals or small businesses who want to encourage employees to save for retirement without incurring significant administrative costs associated with 401(k)’s or other types of qualified retirement plans.

We can also provide services for the following custody accounts:

SOLO 401(k)
If you are self-employed or the only employee of a business, you can set up a one-participant 401(k) plan, known as a Solo 401(k). 

INDIVIDUAL TRUSTS 
Personal Trusts come in a variety of forms and can be established to meet any number of financial objectives, such as estate planning or saving for college. Custodial accounts may be opened to hold trust assets.

ORGANIZATIONS
Custodial accounts may also be opened for organizations. The account is owned by the organization and managed by a named individual(s). These could be used by an organization for a variety of reasons.

CUSTODIAL ACCOUNTS FOR PLAN PARTICIPANTS
An account can be opened by a Trustee in the name of the Plan FBO Plan Participant to hold Plan assets. Participant Level Reporting, Deposits, and Disbursements are Trustee-directed, Investments are Participant-directed or by their appointed Advisor, and Trustee is responsible for all distribution processing and tax reporting.

EMPLOYEE BENEFIT PLANS
A custody account can be opened by the Plan Trustee in the name of the Plan to hold Plan assets. Plan Level Reporting, Deposits, and Disbursements are Trustee-directed, Investments are Trustee directed or by their appointed Advisor, and Trustee is responsible for all distribution processing and tax reporting.

  • Traditional

    Traditional IRA

    Individuals can contribute up to the annual limit to Traditional IRAs each year. These contributions may be tax-deductible. Any earnings on assets in a Traditional IRA generally grow tax-deferred. Taxes are paid when the investor takes distributions from the account. Distributions are penalty-free after age 59½ and must begin by age 70½.

    Traditional IRAs may be attractive to individuals who expect to be in a lower tax bracket during retirement, or those who prefer to defer taxes into retirement.

  • Roth

    Roth IRA

    Investors who meet specific income criteria can contribute up to the annual limit to Roth IRAs each year. Any earnings on assets in a Roth IRA generally grow tax-free. Qualified account distributions also are tax-free, as long as certain requirements are met. Distributions are penalty-free after age 59 ½. There is no minimum distribution requirement at age 70 ½.

    Roth IRAs may be attractive to investors who expect to be in a higher tax bracket during retirement, or those who prefer to preserve assets for later retirement years or future generations.

  • SEP

    Simplified Employee Pension (SEP) IRA

    An employer, or self-employed individual, can establish a Simplified Employee Pension (SEP) plan and make contributions to SEP IRAs for each employee. These are similar to Traditional IRAs. However, SEP IRAs are funded 100% by the employer; employees do not contribute. The employer must contribute equally to each eligible employee in years contributions are made.

    SEP IRAs may be attractive to self-employed individuals who want to save more for retirement than is allowed in Traditional and Roth IRAs or small businesses that want to offer retirement plans without incurring significant administrative costs.

  • SIMPLE

    Savings Incentive Match Place for Employees (SIMPLE) IRA

    Employers with fewer than 100 employees (including self-employed, sole proprietorships and partnerships) and no other current retirement plan can establish an individual retirement account for each participating employee. SIMPLE IRAs have requirements similar to Traditional IRAs but participants enjoy higher individual contribution limits and the employer is required to make contributions to the plan.

    SIMPLE IRAs may be attractive for self-employed professionals or small businesses who want to encourage employees to save for retirement without incurring significant administrative costs associated with 401(k)’s or other types of qualified retirement plans.

  • Other

    We can also provide services for the following custody accounts:

    SOLO 401(k)
    If you are self-employed or the only employee of a business, you can set up a one-participant 401(k) plan, known as a Solo 401(k). 

    INDIVIDUAL TRUSTS 
    Personal Trusts come in a variety of forms and can be established to meet any number of financial objectives, such as estate planning or saving for college. Custodial accounts may be opened to hold trust assets.

    ORGANIZATIONS
    Custodial accounts may also be opened for organizations. The account is owned by the organization and managed by a named individual(s). These could be used by an organization for a variety of reasons.

    CUSTODIAL ACCOUNTS FOR PLAN PARTICIPANTS
    An account can be opened by a Trustee in the name of the Plan FBO Plan Participant to hold Plan assets. Participant Level Reporting, Deposits, and Disbursements are Trustee-directed, Investments are Participant-directed or by their appointed Advisor, and Trustee is responsible for all distribution processing and tax reporting.

    EMPLOYEE BENEFIT PLANS
    A custody account can be opened by the Plan Trustee in the name of the Plan to hold Plan assets. Plan Level Reporting, Deposits, and Disbursements are Trustee-directed, Investments are Trustee directed or by their appointed Advisor, and Trustee is responsible for all distribution processing and tax reporting.

Custody Fees

Millennium Trust typically charges a one-time establishment fee to open an account. Depending on your account type and assets held, annual account fees and asset holding fee(s) and other fees may also apply. For full details, please see our fee schedule.

Fee Schedule

What are my options for funding an IRA?

There are four easy ways to add funds to your Millennium Trust account – IRA Transfers, IRA Indirect and Direct Rollover, and Contributions.

IRA Transfers

IRA transfers are the most common funding method for a new or existing IRA. A transfer is the tax-free movement of IRA assets directly from one IRA trustee or IRA custodian to another. In IRAs, these types of transfers are unlimited since funds are transferred from one institution to another. IRA transfers are unlimited. The transaction is not reported to the IRS.

IRA Indirect Rollovers (60-day Rollovers)

A rollover begins with a distribution to the IRA owner, followed by a re-contribution of all, or a portion of, the assets to another plan within 60 days. A rollover may occur between a qualified plan and an IRA. The rollover transaction must be completed within a 60-day period or the assets' eligibility to be returned to a tax-advantaged account is lost. The distribution may then be taxed as ordinary income in the year it was received. If the individual that received the distribution is under age 59½, a 10% early withdrawal tax penalty may also apply, subject to certain exceptions. It is important for retirement plan owners considering a rollover to take extra precautions to ensure the transaction is completed promptly, as all transactions are reported to the IRS. In some cases, rollovers are not permitted, including the following:

  • IRA owners generally may not complete more than one IRA-to-IRA rollover within a 12-month period regardless of how many IRAs they own;
  • Rollovers cannot be made from a SIMPLE IRA plan to a Traditional IRA during the first two years of a SIMPLE IRA’s plan participation;
  • After age 70½, IRA or qualified plan rollover amounts that represent a taxpayer’s required minimum distribution for that year cannot be rolled over; and,
  • Rollovers from a Roth IRA cannot be made to a Traditional IRA or qualified plan.

IRA Direct Rollover

Unlike an indirect rollover, a “direct” rollover always originates with assets in a qualified plan, Traditional IRA or SIMPLE IRA and involves movement to a Traditional IRA or another employer plan. At no time are the assets cashable or negotiable by the taxpayer. Also, while direct rollovers are reported to the IRS as distributions, a special code on the distribution report indicates the funds were transferred in a direct rollover to an IRA or employer plan and are, therefore, not taxable. We encourage IRA owners to consult with a tax advisor before initiating any transactions.

View Rollover Chart

IRA Contributions

IRAs are available to anyone who receives taxable compensation during the year. For IRA contribution purposes, compensation includes wages, salaries, fees, tips, bonuses, commissions, taxable alimony and separate maintenance payments. Married couples are each eligible to have an IRA, even if one spouse is not working. One spouse’s annual contribution is limited to the lesser of total taxable compensation or to the yearly amount shown in the following tables. Participants age 50 or older may make an additional “catch-up” IRA contribution in the amounts indicated in the tables below. There are no minimum or required IRA contribution amounts, and earnings on the amounts in a Traditional IRA are generally not taxed until withdrawn. In the case of Roth IRAs, withdrawals may generally be made on a tax-free basis provided certain conditions are met.

Individual Retirement Accounts

  Individual Contribution Individual Catch-up Contribution 1
  2014 2015 2014 & 2015
Traditional IRA Up to $5,500 Up to $5,500 Up to $1,000
Roth IRA Up to $5,500 Up to $5,500 Up to $1,000

 

Employer Sponsored Retirement Accounts3, 4

  Participant Contribution Limit Participant Catch-up Contribution1, 2 Total maximum allocation to participant's account (employer & participant contributions5)
  2014 2015 2014 2015 2014 2015
SEP IRA N/A N/A N/A N/A 25% of participant's compensation or $52,000, whichever is less 25% of participant's compensation or $53,000, whichever is less
SIMPLE IRA $12,000 $12,500 $2,500 $3,000 $24,000 ($12,000 participant + $12,000 employer match; employer match limited to 3% compensation) $25,000 ($12,500 participant + $12,500 employer match; employer match limited to 3% compensation)

1 Catch-up contributions are allowed for individuals age 50 or older   
2 Catch-up contributions cannot exceed the lesser of the catch-up contribution limit listed, or the excess of your compensation over the elective deferrals that are not catch-up contributions   
3 The information in this chart does not apply to self-employed individuals   
Additional or smaller limitations may exist in plan documents   
5 Maximums shown here may not include catch-up contributions   

  • IRA Transfers

    IRA Transfers

    IRA transfers are the most common funding method for a new or existing IRA. A transfer is the tax-free movement of IRA assets directly from one IRA trustee or IRA custodian to another. In IRAs, these types of transfers are unlimited since funds are transferred from one institution to another. IRA transfers are unlimited. The transaction is not reported to the IRS.

  • IRA Indirect Rollovers

    IRA Indirect Rollovers (60-day Rollovers)

    A rollover begins with a distribution to the IRA owner, followed by a re-contribution of all, or a portion of, the assets to another plan within 60 days. A rollover may occur between a qualified plan and an IRA. The rollover transaction must be completed within a 60-day period or the assets' eligibility to be returned to a tax-advantaged account is lost. The distribution may then be taxed as ordinary income in the year it was received. If the individual that received the distribution is under age 59½, a 10% early withdrawal tax penalty may also apply, subject to certain exceptions. It is important for retirement plan owners considering a rollover to take extra precautions to ensure the transaction is completed promptly, as all transactions are reported to the IRS. In some cases, rollovers are not permitted, including the following:

    • IRA owners generally may not complete more than one IRA-to-IRA rollover within a 12-month period regardless of how many IRAs they own;
    • Rollovers cannot be made from a SIMPLE IRA plan to a Traditional IRA during the first two years of a SIMPLE IRA’s plan participation;
    • After age 70½, IRA or qualified plan rollover amounts that represent a taxpayer’s required minimum distribution for that year cannot be rolled over; and,
    • Rollovers from a Roth IRA cannot be made to a Traditional IRA or qualified plan.
  • IRA Direct Rollover

    IRA Direct Rollover

    Unlike an indirect rollover, a “direct” rollover always originates with assets in a qualified plan, Traditional IRA or SIMPLE IRA and involves movement to a Traditional IRA or another employer plan. At no time are the assets cashable or negotiable by the taxpayer. Also, while direct rollovers are reported to the IRS as distributions, a special code on the distribution report indicates the funds were transferred in a direct rollover to an IRA or employer plan and are, therefore, not taxable. We encourage IRA owners to consult with a tax advisor before initiating any transactions.

    View Rollover Chart
  • IRA Contributions

    IRA Contributions

    IRAs are available to anyone who receives taxable compensation during the year. For IRA contribution purposes, compensation includes wages, salaries, fees, tips, bonuses, commissions, taxable alimony and separate maintenance payments. Married couples are each eligible to have an IRA, even if one spouse is not working. One spouse’s annual contribution is limited to the lesser of total taxable compensation or to the yearly amount shown in the following tables. Participants age 50 or older may make an additional “catch-up” IRA contribution in the amounts indicated in the tables below. There are no minimum or required IRA contribution amounts, and earnings on the amounts in a Traditional IRA are generally not taxed until withdrawn. In the case of Roth IRAs, withdrawals may generally be made on a tax-free basis provided certain conditions are met.

    Individual Retirement Accounts

      Individual Contribution Individual Catch-up Contribution 1
      2014 2015 2014 & 2015
    Traditional IRA Up to $5,500 Up to $5,500 Up to $1,000
    Roth IRA Up to $5,500 Up to $5,500 Up to $1,000

     

    Employer Sponsored Retirement Accounts3, 4

      Participant Contribution Limit Participant Catch-up Contribution1, 2 Total maximum allocation to participant's account (employer & participant contributions5)
      2014 2015 2014 2015 2014 2015
    SEP IRA N/A N/A N/A N/A 25% of participant's compensation or $52,000, whichever is less 25% of participant's compensation or $53,000, whichever is less
    SIMPLE IRA $12,000 $12,500 $2,500 $3,000 $24,000 ($12,000 participant + $12,000 employer match; employer match limited to 3% compensation) $25,000 ($12,500 participant + $12,500 employer match; employer match limited to 3% compensation)

    1 Catch-up contributions are allowed for individuals age 50 or older   
    2 Catch-up contributions cannot exceed the lesser of the catch-up contribution limit listed, or the excess of your compensation over the elective deferrals that are not catch-up contributions   
    3 The information in this chart does not apply to self-employed individuals   
    Additional or smaller limitations may exist in plan documents   
    5 Maximums shown here may not include catch-up contributions