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TRANSACTION
COORDINATOR’S GUIDE:
Individual Retirement Accounts (IRAs)
Part 3 of 8
Individual Retirement Accounts
ACE Capital Group does not advice customers on which type of IRA or
IRA custodian to choose...
Accounts

Opening

Funds

IRA’s
• Retirement Funds
• Earnings Tax Deferred
• Withdrawals at Age 59 ½
• Qualified Custodian...
Accounts

Opening

Funds

Other
Accounts

IRA Types
Roth

-After-tax contributions
-Withdrawals usually tax-free

Traditio...
Accounts

Opening an Account
IRA Application
Photo ID
Financial Statement

Opening

Funds

Other
Accounts
Accounts

Opening

Funds

Other
Accounts

Opening an Account

1. Name
2. Address
5. Account Type

6. Signature

3. SSN
4. ...
Accounts

Funding
Contribution
Transfer
Rollover

Opening

Funds

Other
Accounts
Accounts

Opening

Funds

Other
Accounts

Contribution
Personal Check/Cashier’s Check
1. Make the check payable to Custodi...
Accounts

Opening

Funds

Other
Accounts

Transfer
A transfer is the moving of funds from the client’s current custodian d...
Accounts

Opening

Funds

Other
Accounts

Rollover
A rollover is when a check is issued by the current custodian and made
...
Accounts

Opening

Funds

Other
Accounts

Rollover
1. Customer requests a rollover check from old custodian
Old Custodian
...
Accounts

Opening

Transfer Rollover

1. Customer Information
2. Custodian Information
3. Account Type
4. Funds Being Tran...
Accounts

Opening

Investment
Direction of Investment /
Investment Authorization

Vesting

1. Customer
Information
2. Inve...
Standard
Agreement of Sale

Exhibit A

Other retirement accounts
401k
403b
Coverall Savings Plan
529 Plan

Exhibit B

Exhi...
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Sameer pimpalkhute ace capital group - land banking in california - secured retirement plan - process - investment funding from self directed ira account

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ACE Capital is a real estate investment company, and GreenDeedTM is a proven wealth building solution provided by ACE Capital Group.

We are not a real estate broker or financial advisor. We are the principal who purchases and sells carefully selected California pre-developed real estate for the purpose of Land Banking. The buyers of our property receive fee simple title ownership (recorded grant deed), and title insurance we package as “GreenDeedTM”.

Our business has evolved from the extremely successful personal investments of our founders. Since 1974 their enterprises have helped thousands of GreenDeedTM buyers build their personal wealth.

Our proven three step formula has provided individuals and business owners with an innovative option to secure a better retirement or create a lasting legacy for their children and grandchildren.

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Sameer pimpalkhute ace capital group - land banking in california - secured retirement plan - process - investment funding from self directed ira account

  1. 1. TRANSACTION COORDINATOR’S GUIDE: Individual Retirement Accounts (IRAs) Part 3 of 8
  2. 2. Individual Retirement Accounts ACE Capital Group does not advice customers on which type of IRA or IRA custodian to choose. They are to consult an IRA Custodian, financial planner or tax advisor to know more about which type of IRA and IRA Custodian is most suitable for their needs. Accounts Opening Funds Other Accounts
  3. 3. Accounts Opening Funds IRA’s • Retirement Funds • Earnings Tax Deferred • Withdrawals at Age 59 ½ • Qualified Custodians • “Traditional” Custodian Vanguard, Fidelity, Janus, etc Mutual funds, stocks, bonds, CD’s • Self-Directed Custodian IRA Services, Equity Trust, Provident, etc Real estate, LLC, stocks, bonds, Other Accounts
  4. 4. Accounts Opening Funds Other Accounts IRA Types Roth -After-tax contributions -Withdrawals usually tax-free Traditional -Before-tax contributions -Withdrawals usually taxed as income Simplified Employee Pension (SEP) -For self-employed or small businesses -Like a Traditional IRA with higher limits Savings Incentive Match Plan For Employees (SIMPLE) -Small businesses -Like a 401K with lower costs
  5. 5. Accounts Opening an Account IRA Application Photo ID Financial Statement Opening Funds Other Accounts
  6. 6. Accounts Opening Funds Other Accounts Opening an Account 1. Name 2. Address 5. Account Type 6. Signature 3. SSN 4. Birth Date
  7. 7. Accounts Funding Contribution Transfer Rollover Opening Funds Other Accounts
  8. 8. Accounts Opening Funds Other Accounts Contribution Personal Check/Cashier’s Check 1. Make the check payable to Custodian’s Name, FBO: Client’s Name, IRA (Account #). 2. Indicate on the check which year it is for and that is a contribution. 3. Complete a deposit form. Wire Transfer Contact the custodian for wiring instructions.
  9. 9. Accounts Opening Funds Other Accounts Transfer A transfer is the moving of funds from the client’s current custodian directly to his new custodian, without the funds ever going to the customer. Before starting a transfer, the client must liquidate his assets, so only the cash is to be transferred. The client must complete a transfer request form (available from his new custodian) and send the form to his new custodian, who will then forward it to the current custodian. Only IRA accounts can be transferred. If the client has a 401(k), 403(b), defined benefits plan or other non-IRA account, the client must request a rollover, not a transfer.
  10. 10. Accounts Opening Funds Other Accounts Rollover A rollover is when a check is issued by the current custodian and made payable either to the client or the client’s new custodian. The client must complete a rollover request form (available from his current custodian) and send the form to the current custodian. The client should tell his custodian, “I want a rollover check. Please do not withhold any taxes because I will be depositing the funds into a qualified custodian’s account.” The check can be made payable to the client or new custodian. If made payable to the client, the client should endorse the check to his new custodian by writing Custodian’s Name, FBO: Client’s Name, IRA (Account #) and signing the back of the check. If made payable to the custodian, make the check payable to Custodian’s Name, FBO: Client’s Name, IRA (Account #). Complete a deposit form and send the check and form to the new custodian. If the client has a 401(k), 403(b), defined benefits plan or other non-IRA account, the client must request a rollover, not a transfer.
  11. 11. Accounts Opening Funds Other Accounts Rollover 1. Customer requests a rollover check from old custodian Old Custodian Customer’s Request Customer New Custodian Rollover Rollover Check Check 2. Customer deposits rollover check into new custodian Transfer 1. Customer completes a transfer request form and sends it to the new custodian who forwards it to the old custodian Transfer Customer Transfer Request Form New Custodian 2. Old custodian forwards funds to new custodian Request Form Funds Old Custodian
  12. 12. Accounts Opening Transfer Rollover 1. Customer Information 2. Custodian Information 3. Account Type 4. Funds Being Transferred 5. Delivery Instruction Funds Other Accounts
  13. 13. Accounts Opening Investment Direction of Investment / Investment Authorization Vesting 1. Customer Information 2. Investment Information IRA Custodian, FBO: Client’s Name, IRA (Account #). 3. Payment Information Funds Other Accounts
  14. 14. Standard Agreement of Sale Exhibit A Other retirement accounts 401k 403b Coverall Savings Plan 529 Plan Exhibit B Exhibit C Important Disclosure

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