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Mutual funds for dummies - Tyson E

Tyson E. Mutual funds for dummies - Wiley publishing , 1998. - 425 p.
ISBN 0-7645-5112-4
Download (direct link): mutualfundsfordummies1998.pdf
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If you are transferring the fund “as is” instead of selling it, you need to tell the new firm whether you want the fund’s dividends and capital gains distributions reinvested. Unless you need this money to live on,
I’d reinvest it.
E. Bank, Savings & Loan, or Credit Union Transfer. Use this section on the form to move money from banks and the like. A potential complication occurs when the money is coming from a certificate of deposit. In that case, send in this form several weeks before the CD is set to mature.
If you’re like most people and do things at the last minute, you may not think about transferring a CD until the bank notifies you by mail days before it’s due to mature. Here’s a simple way around your inability to get the transfer paperwork in on time: Instruct your bank to place the proceeds from the CD into a money market or savings account when the CD matures. Then you can have the proceeds from the CD transferred whenever you like.
Part II: Establishing a Great Fund Portfolio
F. Please sign this section. Sign it and don’t forget to attach a copy of a recent statement of the account you’re transferring, as well as your account application if you haven’t previously opened an account. At this point... you’re done! Mail the completed application in the company’s postage-paid envelope and the transfer will hopefully go smoothly. If you have problems, see Chapter 14 for solutions.
Retirement Account Paperwork
The applications for retirement accounts pose new challenges. The first part of these applications is just like a non-retirement account application, except that it’s easier to fill out. Retirement accounts are only registered in one person’s name: You can’t have jointly registered mutual fund accounts.
Because mutual fund company retirement account forms are so similar to brokerage account retirement forms, I just use the mutual fund company forms as examples in this section.
Retirement account applications
Individual Retirement Accounts (IRAs) are among the most common accounts you might use at a mutual fund company. This section explains what you need to know to complete an IRA application (SEP-IRAs for the self-employed are quite similar). I use the T. Rowe Price mutual fund IRA application as an example (see Figure 11-5).
If you plan to transfer money from a retirement account held elsewhere into the one you’re opening, you need to be careful about two details before you start:
v* Make sure that the retirement account type you’re opening (such as an IRA or SEP-IRA) matches the type you’re transferring (unless you’re moving money from a 401(k) plan, in which case you would be sending that money into an IRA account because you can’t open a 401 (k) as an individual).
V If you want to transfer individual securities from a brokerage account, you need a brokerage account application for whatever type of retirement account you’re opening, not a mutual fund account application.
1. IRA Registration. An easy section — but make sure, especially if you’re going to be transferring IRA money from another firm into your mutual fund IRA, that you list your name exactly as it appears on the account you’re transferring. Otherwise, the firm that has your IRA may make the transfer problematic by causing delays and making you complete yet more forms.
Chapter 11: Application, Transfer, and Other Neat Forms 277
Use this form to open a new T. Row« Price IRA by nuking
• in innual contribution to «tradition«! IRA or to a Roth IRA. or
• a transfer or rollover from an existing traditional IRA to the same type . of traditional IRA
« a transfer or rollover front a Roth IRA to the same type of Roth IRA Complete both the IRA New Account and IRA Transfer Forms if you are transferring assets to open a new account If transferring assets to an existing T. Rowe Piice IRA account of the same type, complete only the IRA Transfer Form.
Do D& use this form for the following situations (please call and request the appropriate kit):
• to convert a traditional IRA to a Roth IRA (request a Conversion Kit)
• ta open an IRA with money that will be sent, directly ta T. Rowe Price from your company's retirement plan (request a Rollover Kit)
• to open or transfer an Education IRA (request a College Planning Kit)
Please do not remove the mailing labd.
• to open or transfer securities to a Discount Brokerage IRA (request a Discount Brokerage IRA Kit)
To order another kit, dr if you have any questions, please call 1-800-1RA-5000. .
Note: If you are Interested In establishing or transferring a Simplified Employee Pension Plan (SEP-IRA) or a SIMPLE IRA: please call 1-800-492-7670 to obtain the appropriateIdt,'
‘1 ( iuiosv liUil і lUi'sl ( I If HI M(illl!(i
Complete a separate form for different type of Sccoujn to be esub-'
llshed. Be sure to fill fa your Soda! Security number and birth date.
IndMduflj Account.
Owner's Name (first, mkkfie WUal, last)
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