5 Simple Steps to Buying an Investment
Buying an investment in your Equity Trust account is simple, but you must be aware of a few guidelines.
1. Find your Investment
While Equity Trust allows you to invest in just about anything to achieve your financial goals, there are a few IRA investments the IRS prohibits, including:
- Artworks
- Rugs
- Antiques
- Metals
- Gems
- Stamps
- Coins
- Certain Other Collectibles
You can find out more about prohibited transactions in IRS Publication 590.
2. Title Your Investment
The key to efficient investing at Equity Trust is correct titling of the investment. It is important that all documents related to the investment are titled correctly to avoid delays. Correct titling is as follows:
Equity Trust Company Custodian FBO (your name) IRA
Or
Equity Trust Company Custodian FBO (your account number) IRA
3. Request Funds
Whenever funds are required you need to complete a Direction of Investment (DOI) form. The DOI tells Equity Trust information about the investment, such as how much it costs and where to send the funds.
- Submitting a DOI—You must submit a DOI, along with any accompanying documentation to Equity Trust via fax (440) 366-3752 or by mail to Equity Trust, P.O. Box 1409, Elyria, Ohio, 44036.
- Corrections to the DOI—If a submitted DOI is missing information or the appropriate documentation, Equity Trust will contact you to make the correction. You’ll speak with your First Class Service Team to make the necessary corrections.
4. Process the Investment
Equity Trust will process your DOI and send funds for the investment based on your specifications on the form. Normal processing time for an investment at Equity Trust is three (3) business days.
Want investment process faster? Ask your First Class Service Team about expedited processing.
5. Send Documents for Safekeeping
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