Quick answers to your most immediate questions

1. Call your new provider to obtain the paperwork to transfer your funds.
2. Complete the new provider’s IRA Transfer paperwork.

 Please make sure to include the following:

• Your signature
• Millennium Trust Company listed as the current custodian
• Account type at Millennium Trust
• Account type at the new provider
• Delivery instructions for the new provider, including payee name
• Signed letter of acceptance from an authorized representative of the new provider
• At least two of the following identifying items:
  • Millennium account number
  • Social security number
  • Date of birth
  • Current address

  If you choose to transfer securities, such as stocks or mutual funds, instead of liquidating your holdings and transferring cash, and the value of the securities is over $200,000, an Original signature and Original Signature Guarantee stamp on the transfer form is required.

  If transferring mutual funds “in-kind” or re-registering the assets, please ensure the receiving custodian includes their mutual fund account numbers for those assets, otherwise the transfer request may be rejected.

  3. Submit the completed paperwork to the new provider.
  4. Your new provider will then review your request, and if accepted, will sign and submit to Millennium Trust to process the transfer in the following manner:
  • Any forms requiring a Notary stamp or Original Signature Guarantee must be mailed back to:

  Millennium Trust Company
  2001 Spring Road, Suite 700
  Oak Brook, IL 60523
  Fax: 630.368.5697

  Please note:

  • If your new custodian requires a statement to complete your transfer, you can download one within the MTC Investment Platform by selecting Account Details > Account Documents.
    • If the investment in your account is holding cash only, a stable value fund, or is an annuity, you will receive one annual statement per year.
    • To generate a custom holdings & transactions report, select Account Reports and then Run. Please choose account and date range to run your custom report. You will be able to see and download your customized report under Report History once it is available.
  • Cash transfers to the new custodian are sent by check via USPS unless otherwise directed. 
  • If you choose to have cash sent by wire, a $30 wire transfer fee will be charged.  
  • Millennium Trust Company, LLC is not a bank or brokerage firm and therefore transfers are non-ACAT eligible, meaning they are not completed through an automated process and may take additional time to transfer.

It’s easy. Once you claim your account, simply login to the MTC Investment Portal to complete and submit the distribution request form. View our video for more information about taking a distribution.

It’s easy. Once you claim your account, simply login to the MTC Investment Portal to complete and submit the distribution request form. View our video for more information about taking a distribution.

You can update your credit card information by going online at https://map.mtrustcompany.com/paymentform and following the instructions to complete the online Payment of Fees Authorization form.

To request your RMD, you need to complete our Required Minimum Distribution form. 

RMD requests must be received by the due dates below to be processed in time to meet the IRS deadlines. If you do not allow sufficient time for Millennium Trust to request liquidation of your investment(s), receive and distribute the proceeds to you, you may miss the IRS deadline for RMDs. Please be aware that you may be assessed a 50% penalty by the Internal Revenue Service if your RMD is not taken as required. The account owner is responsible for any penalties incurred if we are unable to make the scheduled distribution due to insufficient cash in your account. 

Alternative Assets:
Due by December 1 (turning 73 and taking your first RMD, request due by March 1 of the following year) – For those holding alternative assets, our ability to complete your RMD is dependent on having adequate cash available in your account and sufficient time to process a liquidation. Please review your investments to allow sufficient time to liquidate your asset(s), if applicable. Note: Some alternative assets require significant lead time  (often much longer than 30 days) to process a liquidation, in turn requiring your RMD request to be submitted prior to December 1. It is your responsibility to check with your asset sponsor for the liquidation requirements. We will make every effort, but cannot guarantee the RMD will be completed and reported as taxable for the year in which it is due if your asset(s) do not liquidate timely.

Cash or Traditional Assets:
Due by December 15 (turning 73 and taking your first RMD, request due March 15 of the following year) – For those holding cash or traditional asset(s), our ability to complete your RMD is dependent on having adequate cash available in your account. Please review your investment(s) and allow sufficient time to liquidate your asset(s), if applicable. We will make every effort to process any RMD request received after the due date, but cannot guarantee the RMD will be completed and reported as taxable for the year in which it is due.

Millennium Trust sends out 1099Rs to IRA owners by January 30 for the previous tax year. IRA tax form 5498 is generated and mailed out to account owners typically by May 31. For taxable accounts 1099-DIVs, and 1099-INTs are sent by January 30 for the previous tax year.