Prepare Forge IRA LLC for Transfer

Before your LLC can be transferred from Forge Trust Co. to a new custodian some preparation is required.

Please email [email protected] or schedule a call if you require assistance.

1 – IRA Custodial Cash Balance

$300 Minimum Required

$800 Recommended for transfer to Solera

Exit fees from Forge Trust total $240 and will be drawn from the IRA cash account.

Any remainder will be transferred to your new IRA.

Ensure you have at least $300 in the Forge IRA cash account.

If you are transferring your IRA to Solera, having $800 will ensure you have the $500 minimum balance they require in the new LLC checking account.

If your Forge IRA already has at least $300 it is not necessary to add more funds prior to transfer.  You can easily transfer cash to Solera after the transfer.  If you need to add funds to the Forge IRA, then the $800 target is better.

TIPS:

• If your IRA is behind on fees, you will need to account for that and add cash above the $300 threshold. Check your most recent statement to see if you have past due IRA fees.
• Forge charges $110 on the first day of each quarter. If you are beginning this transfer process within 30 days of quarter end, it is best to include that extra $110 in your cash balance just in case.  The transfer can take 3-5 weeks to complete.

If your cash balance is below $300, we recommend you send cash from the LLC to the IRA as the simplest and fastest means to resolve this issue.  Use the following process:

1. Write a check from the LLC bank account payable to: Forge Trust Co.  List your Name and IRA Account# in the memo.
2. Include a Deposit Notification with the following information:

• • Your name, contact info, and IRA account number in section 1
  • Indicate this is a Partial Liquidation of an Investment Asset in section 2.7. Include the LLC name as the Asset Name and the amount of the liquidation.

You can alternately wire funds and use the DocuSign version of the Deposit Notification form.  An inbound wire fee will apply.

Delivery Information

Deposit Notification

2 – Update LLC Valuation

When Forge Trust Co. transfers the LLC entity, they will report the value transferred to the IRS.  As such, they require a current LLC valuation within the last 30 days.

The amount is non-taxable.  There is no need for formal appraisals or 3^rd party certification.  Simply report a current value for the LLC as indicated below.

Reporting Process:

Most investors can use the Online Valuation Portal: https://valuation.forgetrust.com/

You will be asked to provide your IRA account number, the last 4 digits of your SSN, and your date of birth to access the system.  Your account number is available on your Forge Trust account statement.

Accounts subject to RMDs must use the Paper Valuation Form and RETURN to SAFEGUARD.  We will submit the form to Forge Trust with a cover letter that will exempt you from needing a certified 3^rd party valuation.  DO NOT send the valuation form directly to Forge Trust.

Upload a completed and signed valuation form to https://ira123.com/secure-upload

Reporting Methodology:

Simply sum up the holdings of the LLC.  This will include cash in the LLC bank account as well as the value of any investment holdings of the LLC.

For non-cash assets, an estimate of value from a 3^rd party with knowledge of the asset class should be used.

• For real property, use realtor price opinion (realtor comps).
• If the LLC owns partial interest in a property or has a mortgaged property, only the equity value held by the entity is reported.
• A note is valued using the outstanding principal balance.
• Precious metals, cryptocurrencies and other similar assets will generally have a market-reportable spot price that can be used for valuation.
• If the entity holds an interest in a private placement such as another LLC, LLP, etc., the investment sponsor or general partner should provide you with a statement of the entity’s holding value.

No supporting documents used to generate the valuation are required.

Do not worry about small changes in cash or asset value that may occur between when you report and when the LLC is transferred.  The transfer simply needs a reportable value.

3 – LLC Transfer Amendment Info

Once you have prepared your Forge IRA for transfer, please complete the following LLC Amendment Questionnaire.

This provides our team at Safeguard the information we need to prepare your transfer documents.

NOTE: You can submit the form as soon as you have completed the above steps.  We do not need to wait for transactions to post at Forge Trust to get started.