Client Frequently Asked Questions
- Am I eligible to make a contribution? How much can I contribute
- How can I send in a contribution?
- Once I send my funds, is my cash available immediately?
- Do I need to send anything with my contribution?
- When are annual maintenance fees due?
- My child has an account and we paid fees last year, do we have to pay again?
- Can you help me better understand your fee structure?
- What is covered in the annual maintenance fee?
- My investment/asset(s) reflects an incorrect value, how can this be corrected?
- How do I sign up for e-Statements? When can I view my e-Statement?
- How do I title my investment?
- What supporting documents do I need to send with my investment request?
Am I eligible to make a contribution? How much can I contribute
- Eligibility depends on your account type, age, tax filing status and income. Click here to determine your Contribution Limit
How can I send in a contribution?
- Contributions may be made in the form of a check, cashier’s check, money order, wire, ACH or via credit card
- If you would like to send your contribution via Wire, please follow this link for our Wire Instructions.Download our Wire Instruction
- Credit card contributions can be made over the phone with a member of your First Class Service Team, up to the amount of $500 per year.
- ACH is an electronic automatic contribution from a checking or savings account that’s sent monthly, bi-monthly or quarterly. An ACH can only be set up for a recurring contribution. Download our ACH form
- Any contributions sent in the form of a check, cashier’s check or money order should be accompanied by a contribution coupon. Download our Contribution Coupon
Once I send my funds, is my cash available immediately?
- Wires, cashier’s checks and money orders are guaranteed funds and are given immediate availability.
- Personal and business checks are available on the eighth business day.
- Transfer and rollover checks are available on the sixth business day.
- Credit card contributions typically take up to two business days to become available for use in the account.
Do I need to send anything with my contribution?
- Deposit coupons must be sent in with a contribution. Download coupon.
- If your contribution is being sent via Wire, please make sure to fax or email a deposit coupon prior to the wire arriving in your account. You can locate a Wire Coupon at the bottom of our Wire Instruction
- Indicate the account number, account type, dollar amount and tax year in which the contribution should be applied.
- Further information can be obtained by clicking here.
When are annual maintenance fees due?
- Equity Trust Company sends out the annual maintenance fee bill with the 4th quarter statement in January. Annual maintenance fees are typically due at the end of February.
- If you’re enrolled in our e-Statements program, you’ll receive an email notification that your quarterly statement’s available through eVantage. It’s important to view your statement as this will list any annual maintenance fees that are currently due. Please see the question, “How do I sign up for e-Statements?” for instructions on enrolling in our e-Statement program.
- If the fees aren’t paid by the due date, we’ll deduct the amount due from the available cash during March.
- If the funds aren’t available in the cash account, we will charge the credit card we have on file.
- If the funds aren’t available to be deducted and the fees aren’t paid during the month of March, we will assess a $50 late fee.
My child has an account and we paid fees last year, do we have to pay again?
- Special maintenance fees apply to Equity Trust accounts opened on behalf of individuals under the age of 18. When a minor opens an Equity Trust account valued at $10,000 or less, a $50 one-time setup fee is assessed along with a $190 maintenance fee that covers regular account servicing for three years. Once the child reaches age 18 or the account exceeds $10,000, the account converts to the regular maintenance fee schedule and is billed annually.
Can you help me better understand your fee structure?
- Annual maintenance fees are assessed based on the market value of your account as of December 15th of the previous year. Fees are based on a graduated fee schedule. View the fee schedule for the current year.
What’s covered in the annual maintenance fee?
- Our all-inclusive fee schedule is easy to understand. There are no transaction fees for normal processing (excluding online brokerage commissions) and no hidden fees or surprise charges.
My investment/asset(s) reflects an incorrect value, how can this be corrected?
- The asset value listed on your statement and in your eVantage account is based on the most recent value as provided to Equity Trust by the client or a disinterested third party.
- Typically, an asset value can be updated by submitting a Fair Market Valuation Form along with supporting documentation, or receipt of a third-party servicer statement from the company in which you invested your funds.
- If you hold a promissory note, the statement will reflect the value reported on the investment payment coupon received with the most recent payment. If the value of your promissory note is inaccurate, simply send us a letter stating the current value.
How do I sign up for e-Statements? When can I view my e-Statement?
- If you have not elected to sign up for e-Statements on your account application you may do so via eVantage.
- If you need assistance signing up for eVantage or e-Statements, please click here.
- Once enrolled in e-Statements, you’ll receive a notification via email when your next quarterly statement is available for viewing. You must then log into your eVantage account and choose “Electronic Statements” to view your statement.
- If you enroll for e-Statements after the most recent quarterly paper statement has been mailed, you won’t be able to view your e-Statement until the next quarterly statement is available.
- Once enrolled and your first quarterly statement is available online, you’ll have access to all quarterly statements going forward. All past quarterly statements previously viewed through eVantage are accessible as long as you hold an eVantage account.
- Click here to view more frequently asked questions (FAQs) about e-Statements.
How do I title my investment?
- One of the most common mistakes in self-directed IRA investing is improper titling of the investment documents. Refer to “How to Correctly Title Your Investment” to ensure the proper titling of your investment.
What supporting documents do I need to send with my investment request?
- Please refer to our Supporting Documents Reference List to see the minimum required supporting documents for many common investments. Equity Trust Company Direction of Investment forms as well as other forms to manage your account are available here.