When managing Investors who are utilizing an IRA/SDIRA Account, you'll need to create a Custodian page to link their Accounts to.
Step-by-Step Instructions:
Step 1. Navigate to 'Accounts' in the Main Menu of the Portal. You can view current Custodian pages, by clicking the 'Custodians' tab:
Step 2. Click the '+ NEW' button. Then select 'Custodian':
Step 3. Enter the Custodian's details:
Basic Information: The Custodian's name.
Contact Infomation: The Mailing Address is the most important detail to enter. This is the address the Investors Check's will be mailed to.
Step 4. Enable the "Send account payments/dividends to custodian" setting:
IMPORTANT: This setting tells the system to bypass the Investors current Bank Account or Mailing Address they have on file, and instead to utilize the Mailing Address you've entered for their Custodian.
Step 5: Select the 'Default Payment Type'.
IMPORTANT: If you will be sending funds through the system, you will need to select 'Auto Payment' as the payment type. The system will process and mail a Check for any Investor that is linked to this Custodian page.
Related Articles: