Welcome Sunwest Trust Clients! | Millennium Trust Company

Welcome Sunwest Trust Clients!

We look forward to serving you

As you were advised by letter dated May 14, 2020, Sunwest Trust has chosen Millennium Trust Company to serve as the new custodian and administrator of your account.

We offer the same core custody services for your account as Sunwest Trust. In addition, you will have access to a larger client service team, an online dashboard and tools, and expanded investment options, including the ability to trade traditional assets.

For clients that received a letter dated April 8, 2020, your accounts have been transferred to us and are now available for you to enroll in online access.

Time Remaining

Important Key Dates

For clients with letter dated May 14

  • June 18: Final day to transfer your IRA assets to another IRA custodian or direct a distribution from Sunwest

  • June 19: Your account is transferred to Millennium Trust if no other action has been requested and directed.
  • June 19-June 28: To provide a smooth transition, access to your account will not be available during this brief time period, and investment directions, transfers, distributions and other requests will not be processed
  • June 29: You may request online access to your account. Account requests received prior to this date will be processed.

Accounts Opened in 2020

If you opened your account with Sunwest Trust in 2020 then you are not part of the automatic transfer of account upon resignation. To transfer your IRA to Millennium Trust, simply complete the Millennium Trust “IRA Adoption Agreement” and “IRA-to-IRA Account Transfer Authorization” form that Millennium Trust will be emailing to you. Otherwise, you can fill out the forms below by June 18, 2020. A Medallion Signature Guarantee is not needed for the transfer form.

IRA Adoption AgreementIRA-to-IRA Transfer Form

Custodial 401(k) Accounts

As part of the transition of your individual 401(k) plan’s custodial account to Millennium Trust, you will be required to complete the Millennium Trust Custodial Agreement for Individual 401(k) or Profit Sharing Plans online docusign form. If you had an email address on file with Sunwest Trust, we will email the form to you to be completed by June 18, 2020. Otherwise, you can fill out the form below.

Individual 401(k) Adoption Agreement

Forms Required for Asset Re-Registration

We will need you to complete the asset specific forms below that apply to your account to confirm that we have accurate information for re-registration. Please only complete those forms which are relevant to the assets held in your account as indicated on the top right corner of the first page of the welcome letter you received. Any delay in receiving these forms may delay the re-registration process.

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If you hold an alternative asset such as a hedge fund, private equity, or promissory note that will be transferred to Millennium Trust, please complete the online Investment Sponsor Contact Information form before your transfer date. This is an important step to begin the asset re-registration process to have Millennium Trust named as the new custodian for the asset(s) held in your account.

Investment Sponsor Contact

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If you have a Promissory Note being transferred to Millennium Trust, please complete the online Promissory Note Servicing Terms Agreement before your transfer date. Information on this form will allow Millennium to confirm the accuracy of information we have on your promissory note and note servicer.

Promissory Note Servicing Terms Agreement

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If you have a Mortgage/Deed of Trust being transferred to Millennium Trust, please complete the online Mortgage/Deed of Trust Note Servicing Terms Agreement before your transfer date. Information on this form will allow Millennium to confirm the accuracy of information we have on your mortgage note and note servicer.

Mortgage/Deed of Trust Note Servicing Terms Agreement

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If you have Real Property (directly held) being transferred to Millennium Trust, please complete the following online forms before your transfer date:

  • Real Property Servicing Agreement - so that Millennium can confirm that we have accurate information on your property servicing agent
  • Real Estate Information Sheet - to confirm that we have accurate information regarding your property

View our “Guide to Investing in Real Estate in a Retirement Account” to get a clear understanding of Millennium’s processes and procedures regarding real estate if it is being held in your account.

Real Property Servicing AgreementReal Estate Information SheetGuide to Investing in Real Estate in a Retirement Account
  • Investment Sponsor Contact Information

    x

    If you hold an alternative asset such as a hedge fund, private equity, or promissory note that will be transferred to Millennium Trust, please complete the online Investment Sponsor Contact Information form before your transfer date. This is an important step to begin the asset re-registration process to have Millennium Trust named as the new custodian for the asset(s) held in your account.

    Investment Sponsor Contact
  • Promissory Notes

    x

    If you have a Promissory Note being transferred to Millennium Trust, please complete the online Promissory Note Servicing Terms Agreement before your transfer date. Information on this form will allow Millennium to confirm the accuracy of information we have on your promissory note and note servicer.

    Promissory Note Servicing Terms Agreement
  • Mortgage/Deed of Trust

    x

    If you have a Mortgage/Deed of Trust being transferred to Millennium Trust, please complete the online Mortgage/Deed of Trust Note Servicing Terms Agreement before your transfer date. Information on this form will allow Millennium to confirm the accuracy of information we have on your mortgage note and note servicer.

    Mortgage/Deed of Trust Note Servicing Terms Agreement
  • Real Estate Property Directly Held

    x

    If you have Real Property (directly held) being transferred to Millennium Trust, please complete the following online forms before your transfer date:

    • Real Property Servicing Agreement - so that Millennium can confirm that we have accurate information on your property servicing agent
    • Real Estate Information Sheet - to confirm that we have accurate information regarding your property

    View our “Guide to Investing in Real Estate in a Retirement Account” to get a clear understanding of Millennium’s processes and procedures regarding real estate if it is being held in your account.

    Real Property Servicing AgreementReal Estate Information SheetGuide to Investing in Real Estate in a Retirement Account

Accessing your Account Online

Beginning on May 26, 2020, for those who received a letter dated April 8, you will be able to access your account online, allowing you to view your account balances, assets, transaction history, and statements. If your resignation letter is dated May 14, you will not be able to enroll for online access until June 29.

Please complete the enrollment process at www.mtrustcompany.com/login. Simply click on “New User? Click here to Setup Online Access” and follow the steps using the account number referenced in the letter sent to you.

See What Our Clients are Saying

FAQs

Why is my account being transferred to Millennium Trust?
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Sunwest Trust has made the decision to exit the self-directed IRA business and has chosen Millennium Trust as the new IRA provider.

What options do I have for my account?
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To stay with Millennium Trust, you don’t have to do anything. Your account will automatically transfer here on June 19, 2020. If you would like to move your account elsewhere, please refer to the Sunwest Trust letter for complete instructions.

Once my account is transferred, when can I access my account at Millennium Trust?
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On June 29, 2020, you will be able to complete the enrollment process for online access.

What if I did not receive an account number to register for online access?
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If the welcome packet you received did not include an account number, please contact Millennium Trust client service. Once we verify that we have the correct information on file, we can provide you with the account number needed to enroll for online account access.

What is asset re-registration and why is it important?
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Asset re-registration is the process by which the titling of your asset is changed from Sunwest Trust as custodian to Millennium Trust. This process serves to notify the investment sponsor that your asset is now held in custody by Millennium, and that any future correspondence, documents or asset-related payments should be sent to Millennium rather than Sunwest Trust.

In order to initiate this re-registration, Millennium needs contact information for your investment sponsor(s) which can be provided by completing the Investment Sponsor Contact Information form above. In addition to asset re-registration, submitting this form will help to ensure we have updated investment sponsor information for matters including purchases, liquidations, transfers and valuation updates.

Is there anything I need to do regarding specific asset types in my IRA?
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If you hold Real Property, a Mortgage/Deed of Trust or Promissory Note, you will need to complete the asset-specific form(s) to confirm we have the most current and accurate information regarding the asset(s) held in your account.

Will my recurring distributions continue?
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If you had recurring distributions set up from your IRA with Sunwest Trust, including those set up with respect to Required Minimum Distributions (RMDs), they will continue when your account is transferred to Millennium Trust.

Stay Informed

Being informed and keeping up-to-date with the transition helps the process go smoothly. If you would like to be notified with reminders throughout the process, please provide your name and email so we can add you to the notification list and keep you updated.

Have Questions?

You can contact Millennium Trust by email at alternatives@mtrustcompany.com or phone at 833-502-0923.

Registered Investment Advisors

If you previously had a Registered Financial Advisor managing your Sunwest Trust account(s) and you wish to continue authorizing the Advisor to manage your account, the Designation of Advisor form will need to be completed by the client to request access with Millennium Trust. Any other individual third party, who is not an Advisor, please refer to the Third Party Authorization section below.

Designation of Advisor form

If you are a Registered Investment Advisor with authorized access to receive information on Sunwest Trust accounts, an authorized signer at your firm will have to complete the Financial Advisor Acknowledgement form and provide the required CRD number. Once we receive the form, our Advisor Services team will reach out to you to complete the onboarding process.

Financial Advisor Acknowledgement form
Investment Advisors

Third Party Authorization

If you previously had an individual third party authorized to receive information on your IRA with Sunwest Trust, that authorization will remain in place. To add online access for that individual or to add a new third party to the account here at Millennium, please complete and submit the Third Party Authorization form.

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