New Year’s holiday hours
The home office in Bloomfield Hills will be closed on Monday, December 31, and on Tuesday, January 1. On Monday, our Trading department will complete all required trades and transaction data downloads. Regular business hours along with the Weekly Update will resume Wednesday, January 2. Remember, clients can log in to ontargetinvesting.com at any time to access daily account information, quarterly statements, detailed strategy descriptions, and news.
Investing new accounts and deposits
Flexible Plan Investments makes every effort to invest new accounts and deposits at TCA by E*Trade on Monday, Wednesday, and Friday. High-priority trading activities may take precedence.
Required minimum distribution reminder
As the end of the year approaches, make sure you and your clients are adequately planning for any IRA contributions, required minimum distributions, or gifts. Remember, the IRS requires tax-deferred account holders over the age of 70½ to take a required minimum distribution (RMD) on an annual basis. These accounts include IRAs and 403(b)s, among others. Flexible Plan clients were notified earlier this year of their minimum distribution amount. To request the RMD, complete the EZ IRA distribution form. Trust Company of America (TCA) will not make a distribution without a completed form. To review RMD information for your clients, you can run the RMD Report from TCA’s Liberty website.
Use current TCA by E*Trade forms for timely account processing
To ensure timely processing on TCA by E*Trade accounts, it is very important to use current forms. In April 2018, all TCA forms were updated to reflect the new TCA by E*Trade brand.
Effective January 1, 2019, TCA by E*Trade will no longer accept older versions of account forms—only current versions of the TCA by E*Trade forms will be accepted.
Flexible Plan makes using the correct forms easy for you in two ways: (1) The online IMA can prepopulate the TCA by E*Trade application on several account types. (2) You can find the most current TCA by E*Trade forms by logging on to flexibleplan.com and selecting the Product Provider Forms option under the New Accounts menu.
TCA by E*Trade sends monthly summary of EFT activity
TCA by E*Trade is now sending account owners a summary of any electronic fund transfer (EFT) activity on a monthly basis. The summary notice will be delivered via Liberty for those clients who receive statements electronically. Paper delivery clients will receive the summary notice in the mail. A sample of the EFT summary notice can be viewed here. Advisers can view the EFT summary statement through their Liberty access. If you have any questions regarding this notification, please contact our Client Services team at 800-347-3539, ext. 1.