Welcome Transamerica Clients! | Millennium Trust Company

Welcome Transamerica Clients!

We look forward to serving you

Welcome to Millennium Trust Company. Transamerica has arranged for us to serve as the new provider of your automatic rollover IRA. As you were advised by letter dated March 29, 2021, your account will move to Millennium on April 30, 2021, unless you choose to transfer your Transamerica IRA to another financial institution or take a full distribution of your IRA on or before April 27, 2021. We look forward to helping you along your retirement journey while giving you the control and flexibility you need to manage your own portfolio.

Clients that received a letter dated February 26, 2021, your accounts have been transferred to us and are in the blackout period. You can enroll for online access on April 5, 2021.

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FAQs

Why is my account being transferred to Millennium Trust?
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Transamerica will no longer serve as the provider of your automatic rollover IRA and has made arrangements for Millennium Trust to become the new IRA provider and custodian of your account. Your account will move to Millennium on April 30, 2021, unless you choose to transfer your Transamerica IRA to another financial institution or take a full distribution of your IRA (which may have tax consequences) on or before April 27, 2021.

For those who received the resignation letter dated February 26, your account has been transferred and you will be able to access your Millennium Trust account online beginning on April 5, 2021.

What do I need to do if I want to have my account transfer to Millennium Trust?
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If you wish to have your IRA transferred to Millennium Trust, you do not need to take any further action. If you would like to transfer your Transamerica IRA to another financial institution or take a full distribution of your IRA, you must (i) call Transamerica on or before April 27, 2021, or (ii) provide complete written instructions to Transamerica, which must be received by Transamerica on or before April 27, 2021.

Will I receive a final statement from Transamerica?
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Shortly after the transition of your IRA to Millennium Trust, you will receive a final account statement for your Transamerica IRA reflecting activity in your IRA for the portion of 2021 that your IRA was held there.

How will my account balance be invested?
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Your Transamerica IRA is currently invested in the Transamerica Government Money Market Fund advised by Transamerica Asset Management, Inc. In connection with the transfer of your IRA to Millennium Trust, your IRA assets will be moved from that money market fund into the Transamerica Stable Value Accumulation Option.

Once my account is transferred, when can I get access to my account?
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For those who received the resignation letter dated February 26, you will be able to access your Millennium Trust account online beginning on April 5, 2021, allowing you to view your account balances, assets, transaction history, statements and trade online.

For those who received the resignation letter dated March 29, you will be able to access your Millennium Trust account online beginning on May 10, 2021.

Who do I contact with more questions?
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If you have any questions regarding your existing Transamerica IRA, how to request a transfer or a distribution from your IRA or any other questions regarding the transition of your account from Transamerica to Millennium Trust, please contact Transamerica at 866-287-8490. For information on Millennium Trust’s IRA, please fill out the Contact Us and Stay Connected webform and one of our representatives will contact you. Otherwise, you can call us at 877-682-4727.

Contact Us and Stay Connected

Rest assured that we are working hard to make sure the transition goes smoothly. Whether you have a question for us or if you’d just like to stay informed and be notified with important reminders throughout the process, please provide your contact information below.

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Important Key Dates

04/27/2021

Final day to either (1) request and direct the transfer of your Transamerica IRA to another financial institution (other than Millennium Trust) or (2) take a full distribution of your IRA, (which may have tax consequences), prior to it being transferred to Millennium Trust, effective as of April 30, 2021.

04/28/21 – 5/9/21

To facilitate a smooth and seamless transition, access to your account will not be available during this brief period of time. Investment directions, transfers, distributions, and other requests will not be processed.

05/10/21

Online access will be available to your Millennium Trust IRA.

Account Documents

Please download and carefully review a copy of the amended and restated custodial agreement and important disclosures applicable to your account type that will take effect when your account transfers to Millennium Trust. We encourage you to either save an electronic copy or print them out for your records.

Automatic Rollover Traditional IRA Agreement and DisclosuresAutomatic Rollover Roth IRA Agreement and DisclosuresFee Schedule