From contributions to rollovers to rental deposits to sale proceeds, it’s essential to include the appropriate deposit coupon any time funds return to your IRA. Equity Trust has deposit coupons appropriate for investment income and contributions or rollovers.
Here’s a handy guide to deposit coupons to make managing your account easier:
Should a deposit coupon be sent in with every deposit – including wired funds?
Sending a coupon with incoming funds helps prevent the risk of any deposit. Funds that are received without a deposit coupon run the risk of delays or even being returned because their purpose was unidentifiable. If your account is receiving a wire, please email a completed deposit coupon to Equity Trust.
It’s important for all funds to be correctly identified. Contributions and rollovers have tax implications, and investment income can affect the value of an asset. The same holds true if you hold more than one account, share co-ownership of an asset, or are making contributions for the prior and current tax year.
Where should I send checks for deposit?
Overnight Address: 1 Equity Way, Westlake, Ohio 44145
Regular Mail: PO Box 45290, Westlake, Ohio 44145
How should the check be made payable for my IRA?
Any deposit should be made payable to your account: Equity Trust Company Custodian FBO Client’s Name IRA/CESA/HSA
This is the same titling you use for making your investments. If you find the titling needs to be abbreviated, it is acceptable to use: ETC Cust. FBO Client’s Name IRA/CESA/HSA
If my renter or borrower sends their payment check to my personal address, should I endorse the check that I receive before I send it in?
No. You should make sure the check is made payable to your account using the correct titling and send it with a deposit coupon to Equity Trust to endorse and deposit. When it comes to any income, deposits, or other funds related to an asset, it’s important to include the asset number. This number is created and assigned to identify your investment.
If you need to confirm what the asset number is for one or more of your investments you can locate this information in myEQUITY
or call us directly for assistance.