To open an account, Click on the Get Started link and/or follow the instructions to enter the requested information.
1. Enter identifying information;
2. Enter beneficiary information (you will need Social Security numbers, addresses, and dates of birth for beneficiaries) or you can skip this section and enter it at another time;
3. Identify where the money is coming from to fund the account;
4. Customize your account security information.
You will then be prompted to log into your account and electronically to sign account documents.
Once money arrives in your account, you will be sent an email prompting you to login and customize your investments.
The type of account you open depends on a number of factors. If you are moving funds from an existing IRA to a RolloverChoice IRA, you will want to select the same type of IRA. For example, if you are moving funds from a Traditional IRA, you should open a Traditional IRA and a Roth IRA should go to a Roth IRA.
If you are moving monies from a retirement plan like a 401(k) plan, if the entire balance was a result of your and/or your employer’s pre-tax contributions (your taxable wages are reduced and/or the employer made contributions for your benefit into the account such as a matching contribution), you should open a Traditional IRA. However, if your contributions were made after-tax (no reduction to your taxable income) in a Roth source, you will need to open a Roth IRA. If the employer also made contributions into your account, you will need to open a separate Traditional IRA or work with your employer to convert those employer contributions to a Roth so that you can move all funds into one Roth account with us.
This is an important, complex question. You may want to contact your tax advisor for clarification.
When your money arrives, it’s invested in [an age-based portfolio created for you by Financial Soundings, for no additional fee], and you are prompted by email to login to your account and review your initial allocation. If you want to make changes to that allocation, go to the Manage tab and select Change Investment Strategy. You then have the option to choose between:
• Ongoing Professional Advice – receive customized advice on your portfolio by clicking on the Get Advice icon which will direct you to the [Financial Soundings – variable text] advice engine. At the end of that process, you can either accept or reject the advice. If you accept the advice, your account will automatically be rebalanced to the new allocation;
• Do-It-Yourself – Select your own allocation from the funds available in the [ABC IRA Program – variable text]. You can change it as often as you like, at no additional charge, by clicking on the I will choose my own allocation icon.
We recommend you log into your account periodically to review your investment allocation, ensuring you stay on track to meet your goals
Note: There are no additional fees for changing your allocation [or utilizing the online advice application – variable text].
You can access your account securely online 24 hours a day, 7 days a week by logging in with the Username and Password you established when creating the account.
All you need to do is go to the login screen and click on the forgot username/password link, and your username and a new password will be sent to your email address.
Absolutely. To add to your account simply log in, select the Manage tab and then select Make a Contribution. From there, just follow the instructions. That contribution can be a transfer from another IRA, a rollover from a retirement account or come directly from your own bank account.
It is best to select a beneficiary(ies) as soon as possible, knowing you can always make changes. By designating a beneficiary(ies), upon your death your IRA will be immediately controlled by that beneficiary(ies). If a beneficiary is not designated, your account will go to your estate for probate at time of death. Note that the beneficiary(ies) or executrix or executor of the estate will be required to provide a copy of a death certificate to start the process.
You always have full control of your account. However, if you choose to withdraw funds from your account or another qualified retirement account you may be subject to taxation and potential penalties.
The easiest way to exercise any of your withdrawal options is to log into your account, go to Manage and select Withdraw Funds. You then complete and eSign an online distribution request
Note that upon completion of the process, funds may take up to 10 business days to arrive at your requested location.