Safe Harbor IRA

Welcome to Millennium Trust Company

We are excited to have you as a Millennium Trust client and appreciate the opportunity to serve you. For more information on the features of your Safe Harbor IRA or as we refer to it Automatic Rollover IRA, please review the information below.

Account Documents

Please carefully review the documents that govern your new Millennium Trust IRA. We encourage you to either save an electronic copy or print them out for your records.

Traditional IRA DocumentsRoth IRA DocumentsFee schedulePrivacy Policy

Frequently Asked Questions

Who is Millennium Trust?

We are a Retirement and Wealth services provider located just outside of Chicago, in Oak Brook, IL. We currently serve over 800,000 clients like you nationwide. For more information, we encourage you to visit our About Us page.

What is a Safe Harbor/Automatic Rollover IRA?

When you worked at your former company, you had a company-sponsored retirement account such as a 401(k). After you left, the plan sponsor authorized the rollover of your money into a Safe Harbor IRA with The Bancorp Bank (Bancorp). This typically occurs because your balance was below $5,000, you had an outdated address on file, or your retirement plan was terminated. To learn more, watch this quick video on the process.

Why is my Safe Harbor IRA being transferred to Millennium Trust?

Effective August 16, 2018, The Bancorp Bank will resign as trustee and administrator of your Safe Harbor IRA. Bancorp has chosen Millennium Trust Company to serve as the new custodian and administrator of your IRA, unless you direct otherwise.

How does the Millennium Trust IRA differ from my Bancorp IRA?

Both IRAs have the same tax deferred savings features, but the Millennium Trust IRA also provides access to a large client service team, online services and expanded investment options.

What are the fees for the Millennium Trust IRA?

For full details, please download your new fee schedule.

How will my money be invested?

The balance of your IRA will initially be held in FDIC-insured, interest-bearing bank accounts. You also have the choice to direct investments in stocks, bonds and mutual funds in your IRA.

What options do I have for my account?

To transfer to Millennium Trust, you don’t have to do anything. Your account will be automatically transferred here on August 16, 2018. If you would like to move your account elsewhere, please refer to the letters you received from Bancorp and us with complete instructions.

Who do I contact with more questions?

If you have questions related to The Bancorp Bank resignation you can contact 866.540.9364. For information on Millennium Trust’s IRA, contact 877.682.4727.