Participant Information FAQ
1. Who is Millennium Trust?
Millennium Trust is an independent trust company that provides administrative and custodian services on behalf of individual investors. We are located in Oak Brook, Illinois and have over
35,000 clients located throughout the United States. We are pleased to custody your
self directed IRA. Your IRA will help preserve your tax deferred retirement savings.
2. How is the IRA invested?
The investment will be a FDIC insured money market
vehicle, offering competitive yields. The rate will change with Fed Fund Rate changes and general interest rate fluctuations. This initial investment vehicle is designed to minimize risk, preserve principal, maintain liquidity and provide a reasonable rate of return. Other investments are available including CDs, mutual funds, stocks and bonds.
3. Can the
self directed IRA be used for other distributions?
Yes, you may roll over other IRA accounts into this Automatic Rollover IRA account. You may also transfer other distributions from employer retirement plans.
4. What else is available with the Automatic Rollover IRA?
We have a dedicated client service team available to answer all questions regarding your account. The client service representatives are IRA specialists and trained on IRS rules and requirements. You can select web access to your account or you will receive annual account statements in January. Additionally, Millennium Trust will mail you your IRA year-end valuation (Form 5498) in May each year.
5. How is the beneficiary(ies) determined?
Because the terms of your current retirement plan are no longer applicable, any specified beneficiary designation will end when the rollover is made. You will specify your beneficiary designation(s) by completing our Automatic Rollover Adoption Agreement. You may designate one of more persons or entities as beneficiary of your IRA.
6. What is the cost?
Millennium Trust will charge a fee to establish a self
directed IRA account in your name (one time charge) and an annual fee for custody and investment services.
7. How do you contact Millennium Trust?
Call our Automatic Rollover client service team at 877.682.4727 or email us at MTC.IRAS@mtrustcompany.com. Our fax number is 630.368.5697
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