Simple Ira Transfer Of Assets Form: Fill & Download for Free

Yes, you can - here is their FAQWhat types of accounts does Wealthfront currently support?We often get this question at Hedgeable. We have over 20 account types offered -As our clients needs expand, the number of accounts they have with Hedgeable often grows as well. There are many different types of accounts that clients can open (listed below) to serve various goals and objectives: retirement, general wealth accumulation, gifting to a minor, and more.Benefits of Having More than One AccountWith multiple accounts, it can be hard to keep track of. How is one account being managed versus the other? Is one hand washing the other? Many of our clients open up all of their accounts with Hedgeable to ensure that strategies and investment holdings aren't duplicated across their overall financial picture. By doing this, they allow us to manage their full financial picture, to mitigate risk across all account types.Beyond that, it's helpful to have all accounts on one platform. Instead of needing to log on to separate sites to view account analytics, performance, or even remembering separate logins, Hedgeable brings everything into one simple picture. You can even manage recurring contributions into each of your account, to be taken out of your checking at a frequency of your choosing.Types of AccountsIndividual - TaxableYour bread and butter for first investment account at Hedgeable. Do you have a big chunk of money earning 0% interest in your savings account? Do you only have a couple bucks to spare until you win the Powerball? Either way, we have you covered. With no account minimum, you can open up a regular taxable account to grow and preserve your nest egg.Joint Account - TaxableSometimes, it might be appropriate to open up an account with more than one person. Some spouses decide to open up joint accounts once they get married, family members own certain accounts in joint title, or anything in between. These joint accounts can be formed in different ways: Joint Tenant with Rights of Survivorship, Joint Tenants in Common, Joint Tenants with Community Property, and Joint Tenants by Entirety. Please consult your legal advisor to determine which of these is appropriate for your circumstances and if each account type is allowed in your state of residence.Traditional IRATraditional IRA's have become as ubiquitous as commercials with older balding gentlemen telling you how important it is to save for retirement. Through our platform, you can easily start saving for retirement by making contributions from your checking account. Per the Internal Revenue Service (IRS), you can contribute $5,500 to your account per year (or $6,500 if you are older than 50). The funds that you put into the account are tax-deductible; so, the IRS will grant a credit to you, making your IRA contributions effectively before-tax. Your account will grow tax-deferred--that is, you will not pay taxes on any earnings. Once you make a retirement withdrawal after age 591/2, they are taxed as ordinary income without penalty.Rollover IRADo you have 401(k)'s scattered across previous employers? Rollover IRA's allow you to combine 401(k)'s that you may have had at previous employers into one account. By doing this, it allows you to maintain the tax-deferred status from your 401(k), without a penalty. In addition, as your continue to save for retirement and your account size grows, you can take advantage of our fee breakpoints. From an account management and logistics standpoint, the Rollover IRA is essentially the same thing as a Traditional IRA.ROTH IRAMany Hedgeable clients take advantage of a Roth IRA, in addition to a Traditional IRA. Unlike a Traditional IRA, contributions to ROTH IRA's go in after-tax, and are withdrawn tax-free (as long as they are a qualified retirement distributions after age 591/2). This tax-free growth can be compelling for younger clients that want to take advantage of longer time horizons for their retirement. In addition, many clients utilize ROTH conversions, a strategy that recognizes taxes in a Traditional IRA immediately and moves the proceeds to a ROTH IRA. Please consult your tax advisor to determine if ROTH conversions are appropriate for you.Solo 401(k)Did you know that you don’t have to work for a large company to have a 401(k) plan? It is true. Called a Solo or Individual 401(k), this account type allows you and a spouse to take advantage of the same 401(k) rules that employees of large organizations can. In fact, it is one of the most popular Hedgeable account types, and Hedgeable remains the only major digital wealth manager that offers these account types. There are only about 750,000 401(k) plans in America, yet there are over 25 Million sole proprietorships and single member LLCs in America. You can be a young doctor, dentist, lawyer, accountant, painter, landscaper, consultant, recruiter, and dozens of other occupations and get a Solo 401(k) setup. Regardless of professional title, if you are a "1099 employee" or if you own your own business, you may be eligible to open up a personal 401(k). Unlike SEP IRA's, Solo 401(k)'s can be set up to allow loans from the plan.For these plans, contributions are made by the employee and the employer (even though you are effectively both, since you own your own business). Just like Traditional 401(k)'s, employee contributions are limited to $18,000 (or $24,000 if you are older than 50). Employer's can make non-elective contributions up to 25% or compensation, or as defined by your plan. Please consult your tax advisor to determine what is most suitable when setting up a plan, and how much you can contribute each tax year.ROTH Solo 401(k)Hedgeable allows its clients to participate in a ROTH Solo 401(k) for qualifying small business owners or "1099 employees"! These follow the same contribution rules and procedures, the contributions are after-tax instead of pre-tax, akin to ROTH IRA's compared to Traditional IRA's.SEP IRASEP IRA's are a useful type of account for self-employed or "1099" individuals and provides a higher contribution limit than Traditional IRA's. For 2016, contributions cannot exceed the lesser of 25% of compensation, or $53,000, whichever is smaller.Since there are no employee contributions, it is most useful for a small business owner with no employees. Also, unlike a Solo 401(k), you cannot take advantage of the ROTH option. Historically, SEP IRA's have been a useful tools for self-employed individuals looking for higher contribution plans to save for retirement. Please consult your tax advisor to determine how much you can contribute to your plan each year.SIMPLE IRAA SIMPLE IRA has been used as a low-cost alternative to 401(k)'s for small businesses. This option allows employees to make contributions, while usually requiring employers to pitch in with employer contributions. Unlike a traditional company 401(k), SIMPLE IRA's do not require the complexity of third-party-administrators or annual safe-harbor testing. For 2016, employees can contribute up to $12,500 (or $15,500 if they are older than 50). It is common for employer's to contribute 3% of employees salary with immediate vesting, but this depends on how the plan is set up. SIMPLE IRA's can not be set up for more than 100 employees at any time during the preceding year. Please note, at this time, the IRS does not allow for a SIMPLE IRA to be a ROTH IRA.Custodial Account (UGMA/UTMA)Custodial accounts are a great way to gift cash or securities to minors. In most states, minors are not allowed to own stocks outright or open an investment account for themselves. Under the Uniform Gift of Minors Act (UGMA) or the Uniform Transfer of Minors Act (UTMA) minors can receive cash or securities while an appointed person (who cannot be a minor) manages the account until the minor reaches the age of majority. You can contribute as much as you want to this account, as long as it complies with the requirements of the gifting limits imposed by the IRS ($14,000, or $28,000 for married couples).Personal & Business Trust AccountsHedgeable accepts personal trust accounts, that can be set up in a variety of forms. Regardless of if the plan is revocable, irrevocable, or a "dynasty trust", we can accept the account and begin to invest for the trust beneficiary's goals and objectives. Trust accounts can be opened for a variety of reasons: planned giving strategies to charities, to give part of an inheritance to someone while abiding by certain rules and stipulations, to care for a mentally challenged or disabled person, among other reasons. Please consult with a trust and estate attorney for future guidance on which trust is most appropriate for you.Businesses can open trust accounts as well, to hold money on behalf of clients, the company, or to met certain regulation requirements. In some cases, it may be appropriate to invest the cash instead of letting it sit in a bank account earning next to nothing in interest.What We Do Not AcceptPlease see my answer on trusts that are available to wealthy Americans.You were born poor, but now you are rich. How do you ensure your family will still be wealthy beyond three generations?We do not offer many of these trust types.Although our clients have multiple accounts with us at Hedgeable, this may not capture their full financial picture. Homes, credit card debt, and mortgages are all examples of assets/liabilities that can not be held at our custodian. To get around this issue, we provide account aggregation services on our platform.Disclaimer: This is not a solicitation to buy or sell securities or an offer of personal financial advice. Past performance is not indicative of future performance. It is suggested you seek out the help of a financial professional before making any investing or personal financial management decision.

What Is a Gold IRAWhile the majority of IRAs invest in more traditional assets like stocks, bonds, and cash equivalents, the tax code also permits “self-directed” vehicles that can hold precious metals such as silver or gold. But this does not mean that all types of precious metals are allowed within an IRA. The tax code designates specific gold, silver, and platinum coins that qualify and sets the purity standards for gold, silver, platinum, or palladium bars that can be held in these specialized accounts. Other forms of precious metals such as collectible coins and jewelry are not allowed.In properly set up an Individual Retirement Account (IRA), you need to locate a custodian who will allow you to hold precious metals such as gold within the IRA. You will also need to identify an approved depository. The next step is to buy the actual gold or precious metals such as silver, platinum, and palladium that have been approved, and then transfer those assets to the depository in a manner in which the custodian can account for it. Examples of accepted forms are the gold and silver American Eagle and Canadian Maple Leaf coins, the Austrian Philharmonic coin, PAMP Suisse Gold bars, Sunshine Gold and Silver Bars, and most platinum bars.Investing in a Traditional or Roth IRAThe tax rules allowing gold to be held in IRAs apply equally to traditional IRAs and Roth IRAs. Simplified employee pension (SEP) accounts and SIMPLE-IRAs are also allowed to hold precious metals. The same decision-making process applies when choosing between a traditional and Roth IRA. There are pros and cons to both types of accounts. Traditional IRAs have deductible contributions and tax-deferred growth. On the other hand, Roth IRA distributions are tax-free and contributions are made using after-tax dollars.Is it Safe to Own Gold in an IRA?In retirement, you need an investment that either generates current income or is reasonably expected to appreciate in value so you can sell it in the future and use it for consumption purposes. You are essentially wasting tax-deferred space for something that does not generate income; thus, it is not saving you from any taxes. Just like any other traditional IRA account, the value of the account will be subject to taxes upon withdrawal. Unlike owning stocks, mutual funds, ETFs, etc., physical gold does not generate any dividends, interest, or capital gains distributions, all of which are tax-sheltered in an IRA..More Idea benefiting from gold IRA

Many investors transfer their accounts from one brokeragefirm to another without a hitch. If your transfer goes smoothly, count on thewhole process taking two to three weeks. But this time frame may vary dependingupon such factors as the assets involved, the types of accounts, and theinstitutions between which the transfer occurs.Transfers may be delayed if:-the wrong transfer form is used;-the transfer form has been incorrectly completed;-the transfer involves a request to liquidate some or all ofyour assets;-the transfer includes a margin account;-the transfer is from one type of account into a differenttype of account;-a change in the account owner is made; or-the transfer involves a retirement account.-This document walks you through the transfer process andprovides tips on how to avoid problems.Use the Right FormUse the correct form to ensure your transfer goes smoothly.Some firms allow you to use one form for all account transfers while othershave different forms depending on the type of account you are transferring (forexample, an IRA account or a margin account). To get the right form, call thenew firm where you want to transfer your account or visit its Web site.Review the Form CarefullyAs you start filling in the transfer form, review theaccount statement from your old firm where your account is held. All firmsrequire you to attach a copy of your most recent account statement to thetransfer form.The form usually asks for the name on your account, the typeof account you want to transfer, account number, the firm where the account isheld, and your social security or tax identification number. Be sure youprovide this information exactly as it appears on your old account. Forinstance, if your middle name or initial appears on your old account, you mayrun into delays if you forget to include it. When transferring only some of thesecurities in your account, carefully list the securities you want to transferon the form.The easiest way to transfer your account is to keep the typeof accounts the same (joint account transfers to joint account; IRA to IRA) andaccount owner the same. You can change account type or ownership at the time ofthe transfer, but this may delay the transfer. You may need to providedocuments proving changes to ownership, such as a marriage certificate, divorcedecree, or death certificate.If you have questions about how to complete the form,contact the new firm for help. Once completed, keep a copy of the form for yourrecords.Understandthe Transfer ProcessAll transfers start and end with your new firm, but your oldfirm needs to take action too.ElectronicTransfersMost account transfers between brokerage firms are madeusing the Automated Customer Account Transfer Service (or "ACATS")system. The National Securities Clearing Corporation operates ACATS, and boththe New York Stock Exchange and the National Association of Securities Dealers,Inc. require their member firms to use ACATS.These rules require firms to complete various stages of thetransfer process within a limited period of time. If the transfer is madethrough ACATS, and there are no problems, the transfer should take no more thansix business days to complete from the time your new firm enters your form intoACATS.During this time, your old firm compares the information youprovided on the transfer form with its information. If the information matches,your old and new firms review the transferable assets. If the transfer includesa margin account, the new firm also examines the account to see whether theaccount meets the firm's margin standards. Firms may have different margin standardsabout how much they will lend you to trade. While the transfer is in progress,your account may be "frozen" for part of the time. If this occurs,you may be unable to trade. Check with both your old and new firms if you wantto trade during the transfer process.Under the "ACATS for Banks" program initiated byDTCC in February 1999, banks may voluntarily participate in ACATS. If a bankparticipates in the program, then a transfer from the participating bank to abrokerage firm or vice a versa should occur in the standard ACATS time frame ofsix business days. If you are transferring your account to or from a bank youshould ask whether the bank participates in the "ACATS for Banks"program.Be aware that delays may occur when you transfer a retirementaccount. Because retirement accounts require a financial institution, such as abank, to act as the custodian or holder of the account, you must have acustodial arrangement in place at your new financial institution before thetransfer can occur. A delay may happen if you have not paid the maintenance feeto the old custodian or the new custodian does not allow a security in theretirement account to be transferred. Once everything is in place, the transfercan be made through ACATS.ManualTransfersSometimes, a transfer is made manually. This occurs whenyour assets are with a bank, mutual fund, credit union, insurance company, orlimited partnership that does not participate in ACATS. This also may occur ifyou request a liquidation of assets other than the standard money market fundin your account. There are no set time frames for completing a manual transferwith these financial institutions. For that reason - and the potential risk ofmarket volatility should there be any delay - you may not want to liquidate anyassets via instructions on the transfer form.A manual transfer may also occur when you request a partialtransfer of your account between brokerage firms. The rules of the NYSE andFINRA require firms to expedite or complete these requests in a reasonableamount of time, but firms have the option to make these transferselectronically through ACATS. If you are making a partial transfer, tell thenew firm you would like the transfer to go through ACATS.MonitorYour TransferSince both the old and new firms must act to complete thetransfer, stay in touch with both of them. Make sure the new firm has receivedyour transfer form. If you sent the form to a branch office, it may take a fewdays before it is received at the firm's headquarters for processing.You may also want to ask the old firm whether it hasreceived the transfer request. If the transfer goes through ACATS, the old firmhas three business days from the time it receives the transfer form to decideif it is going to complete or reject the transfer. If the assets in an accountcan be transferred through ACATS, a firm can reject a transfer request only ifthe form has been completed incorrectly or there is a question about theownership of the account or the number of shares. Ask the firm whether it willtransfer your account or if there is a problem with your instructions. If thereis a problem, ask for an explanation and how to correct it.If the old firm takes no action on the request or a problemis not resolved within six business days, the transfer request is purged (ordeleted) from ACATS. If that happens, the new firm must start over by againinputting the transfer request into ACATS.KnowWhich Securities May Not TransferSometypes of securities may not be transferred. These securities include:-securities sold exclusively by your old firm;-mutual funds or money market funds not available at the newfirm;-limited partnerships that are private placements;-annuities; or-bankrupt securities.If your request includes some of these non-transferablesecurities, it may take longer to complete a transfer. Your old firm isrequired to transfer whatever securities or assets it can through ACATS and askyou what you want to do with the others. You generally have two choices: eithersell the non-transferable security and transfer the cash, or leave the securitywith your old firm. Sometimes, you may be able to take possession of thesecurity itself. Taking possession of a security may pose risks, such as thesecurity could be stolen. Also, it may not be advisable for retirement plans.KeepThese Final Thoughts in MindYour old firm may charge you a fee for the transfer to coveradministrative costs. Sometimes, the new firm will also charge a fee. Thesefees are typically spelled out in your account agreements with the firms.Expect delays in receiving dividends, interest, and proceedsfrom sales of securities. They often arrive at your old firm after the transferhas taken place. Your old firm is required to transfer them to you at your newfirm — within ten business days of receipts — for at least six months after theaccount transfer is completed.If you feel like your account has not been transferred in atimely fashion, ask to speak to the compliance director at your old or newfirm. If you are not satisfied, contact the New York Stock Exchange or theFINRA, depending on where your brokerage firm is a member.Finally, Ask Questions! A simple error could significantlydelay the transfer. Be certain your old and new firms have the information theyneed to make the transfer happen in a timely fashion.