How do I submit a transfer out to another IRA custodian?

Transferring assets or cash from your AET IRA to another IRA custodian involves a series of necessary steps and specific documentation. At American Estate & Trust (AET), we have outlined the required process to help ensure a smooth and successful transfer.

Important Notes Regarding Transfer Documents

Transfer Request Forms:

• Must be received within 30 days of your dated wet signature.

Medallion Signature Guarantee:

• Any transfer paperwork received without original signatures must include a Medallion Signature Guarantee stamp.

Asset Listing:

• Any transferred assets must be listed on the paperwork. Attaching an account statement will not suffice.

Cryptocurrency Assets:

• Cryptocurrency assets must be liquidated prior to transferring. AET does not allow cryptocurrency asset transfers.

Real Estate Assets:

• If transferring real estate, you must submit Quit Claim Deeds to change titling to the new custodian.

Document Completeness:

• All transfer documents must be complete and legible. If any items fail review or are rejected for compliance, you will need to start the process over.

Steps for Completing the Transfer

1. Obtain the Original Transfer Document:

   • Get the transfer document from the receiving custodian.

   • Complete your portion of the document, sign it, and return the original to the receiving custodian.

   • The receiving custodian will complete their portion, sign it, and send the original form to AET at the following address:

     Custodianship and Mail to:

     American Estate & Trust
     6900 Westcliff Dr
     Suite 603
     Las Vegas, NV 89145
     

2. The Transfer Out DOI is Created:

   • Once the complete Transfer Request Form is received and accepted, a DOI will be created in the Online Portal and placed in the status of "On Hold for Correction" if there are any corrections required.
   • The corrective actions will be called out in the DOI "Notes" section.
   • Once any required corrections have been made, the DOI will be reviewed for Compliance again.
   • Note: Nothing is required from you until the documents are received and the DOI is created. If you believe the process is taking too long, follow up with the successor custodian to check the status.

3. Provide Verbal Authorization:

   • If all information is acceptable, the DOI will be placed in the status "On Hold for Authorization".
   • This status indicates that you must contact Support or schedule a call with Support to provide your "Verbal Authorization".
   • Once the verbal authorization has been provided, an electronic agreement package will be sent to the email address on file.

4. Complete Final Authorization Steps:

   • You must electronically sign the agreement and provide a copy of your current Photo ID as the final steps to authorize the Transfer Out.
   • If any of the details of the transfer change, a new verbal authorization must be provided.

Final Considerations

Account Issues:

• If there are issues with your account (such as insufficient funds or incomplete documentation), the transfer request may be placed on hold for further review.

Transfer Rejection:

• If any part of the transfer request is incomplete or does not meet the required criteria, AET will reject the DOI and ask you to correct the issue before resubmitting.

Timeliness:

• Be aware of the 30-day time frame for receiving your signed transfer request documents. Missing this deadline could delay the transfer process.

Important Note on Account Closure and Portal Access

Once an account is closed, clients will no longer have access to the online portal. This means that any account-related documents, including:

• Account statements
• Investment records
• Transaction history

will no longer be retrievable through AET’s system. Clients should download and save all necessary documents before their account is closed.

If you need access to past records after your account is closed, please contact AET Support for assistance.

Conclusion

Transferring assets or cash from your AET IRA to another IRA custodian requires careful attention to detail and adherence to specific documentation requirements. By following these outlined steps, ensuring all required documents are complete, and monitoring the status of your request in the online portal, you can help ensure a smooth and successful transfer. Should you need any assistance or have questions, our support team is available to guide you through the process.