fbpx

FAQ: Transfer from Kingdom to IRA Resources

Moving your IRA to IRA Resources is a smart choice.  You can expect an upgrade in customer service and savings of 54% compared to Forge.

Following are answers to some of the common questions about IRA Resources and the transfer process.

Who is IRA Resources?

IRA Resources is a self-directed IRA custodian licensed by the South Dakota Division of Banking.

They have been in operation since 1996 and focus on a customer-first approach at competitive pricing.

IRA cash held by IRA Resources is FDIC insured to $250,000.

The IRA Resources operations center is located in Walnut Creek, California.

IRA Resource customer service is available Monday – Thursday from 8:30am – 4:30pm Pacific time, and Fridays from 8:30am to 3:00pm Pacific time.

What is the Cost to Transfer my IRA from Kingdom to IRA Resources?

The total cost of transfer is $300.  This includes:

  • $100 Kingdom Trust Co. account termination fee.
  • $100 Safeguard fee to guide you through the transfer process and update your plan legal documents (Upgrade to concierge service for an additional $99).
  • $100 Account Establishment fee at IRA Resources.

When you submit your application to IRA Resources, you will also pre-pay the first 6 months of your annual IRA administration fee at a cost of $99.50.

What is Concierge Transfer Service?

The process of moving your IRA from Forge to IRA Resources involves a few steps, including:

  • Preparing your current IRA for Transfer
  • Establishing your new IRA at IRA Resources
  • Updating your LLC/Trust legal documents
  • Preparation and submission of transfer documents

With our standard service at $100, we will guide you through these steps and provide the necessary guidance and documents.

Upgrade to our Concierge Transfer service at $199 for faster processing higher-touch service.  With the Concierge Transfer program, you can expect:

  • Expedited turnaround at each processing milestone
  • A higher degree of follow-up to ensure your transfer is executed smoothly once submitted to Forge

What are IRA Resources IRA Fees?

The annual IRA recordkeeping fee is $199, paid semi-annually in two installments of $99.50.

Additional fees apply when adding funds via contribution or rollover, or removing funds via distribution or transfer out.

There are no fees based on the dollar value of your account or the number of assets held within the IRA-owned LLC/Trust created by Safeguard Advisors.

View the IRA Resources Fee Schedule.

How Can IRA Resources Fees be Paid?

IRA Resources administrative fees can be paid personally or from the IRA.

We recommend you obtain a debit card on the LLC/trust checking account if you want to pay using IRA funds.  Paying from the cash balance of the IRA can be complicated and result in extra fees if insufficient funds are available.

Is There a Minimum Balance Requirement?

If you elect to pay IRA Resources fee with a credit or debit card, there is no MINIMUM cash balance requirement in the IRA.

A minimum IRA cash balance of $350 applies if you elect to have IRA Resources fees deducted from the IRA.

Does IRA Resources Require Certification of Value when RMD’s Apply?

If you have an IRA that is subject to IRS Required Minimum Distributions, the annual valuation provided to IRA Resources will need to be certified by a licensed professional such as a CPA, attorney, or real estate appraiser.

Clients with accounts subject to RMD’s or nearing age 72 when RMD’s may apply are strongly encouraged to evaluate Solera National Bank as custodian.  No licensed 3rd party valuation is required by Solera.

What is the Transfer Process?

Safeguard Advisors will guide you through the transfer process.

  • Safeguard will help you setup your new IRA at IRA Resources.
  • Safeguard will prepare amended LLC or trust documents.
  • Safeguard will prepare IRA transfer documents.
  • The account transfer can take from 2-4 weeks to complete, depending on the processing queue at Kingdom Trust Co.
  • Kingdom Trust Co. will provide IRA Resources with re-registration documents that require your signature.
  • Once the asset has been re-registered, the transfer process is complete.

How Long Does the Transfer Process Take?

The entire account transfer process normally takes 4-6 weeks, depending on how engaged you are with the process and the responsiveness of Kingdom Trust Co. when processing the outbound transfer.

The transfer does not impact your ability to use your checkbook IRA.  You can continue to manage investments during the process.

Does Safeguard Advisors Have to Help with the Transfer?

Yes.

As part of the transfer process, Safeguard will amend your LLC or trust agreement to illustrate the assignment of ownership to IRA Resources FBO your IRA.

Our team at Safeguard will guide you through the transfer process to ensure a smooth transition.

How Can I Learn More?

If you want to be sure a move to IRA Resources is right for you or learn more about the process please schedule a call.

 

Upgrade Your Self-Directed IRA

Switch to IRA Resources

Click for the BBB Business Review of this Financial Consultants - No License Required  in Boulder CO