Cota St. IRA

To open an account, visit this site and follow the instructions to enter the requested information.
Simply:

1. Enter identifying information;
2. Enter beneficiary information (you will need Social Security numbers, addresses, and dates of birth for beneficiaries), or you can skip this section and enter it at another time;
3. Identify where the money is coming from to fund the account;
4. Customize your account security information.

You will then be prompted to log into your account and electronically sign account documents.
Once the money arrives in your account, you will be sent an email prompting you to log in and customize your investments.

You can access your account securely online 24 hours a day, 7 days a week, by logging in with the Username and Password you established when creating the account.

The type of account you open depends on a number of factors. If you are moving funds from an existing IRA to COTA St. IRA, you will want to select the same type of IRA. For example, if you are moving funds from a Traditional IRA, you should open a Traditional IRA, and a Roth IRA should go to a Roth IRA.
If you are moving monies from a retirement plan like a 401(k) plan, if the entire balance was a result of your and/or your employer’s pre-tax contributions (your taxable wages are reduced and/or the employer made contributions for your benefit into the account such as a matching contribution), you should open a Traditional IRA.

However, if your contributions were made after-tax (no reduction to your taxable income) in a Roth source, you will need to open a Roth IRA. If the employer also made contributions into your account, you will need to open a separate Traditional IRA or work with your employer to convert those employer contributions to a Roth so that you can move all funds into one Roth account with us.

This is an important, complex question. You may want to contact your tax advisor for clarification.

Many plans are designed to force out balances up to $5,000 when a participant terminates employment and does not respond to communications about distributing their plan account. Plan sponsors with this provision must roll over force-outs between $1,000 and $5,000 to an IRA on behalf of the participant. Balances of $1,000 or less may be rolled over to an IRA or cashed out to the participant, depending on the plan document. Plans that roll over all force-outs avoid dealing with the compliance challenges of small distribution checks that go uncashed.

If you wish to take a distribution out of your Cota St. IRA, you have two options:

1. Lump sum payment. If you elect a lump sum payment, you will receive a check or wire for the amount of your account balance. Federal income taxes of 20% will be withheld from accounts with $200 or more, as will a $25.00 distribution fee.

1. Rollover. If you wish to have a tax-deferred rollover made to an Individual Retirement Account (IRA), 403(b) plan, 457(b) plan, 401(k) plan or other tax-deferred plan, that is available as well.

Both options require a log-in to your Cota St. IRA to designate your choice.

Once you've opened your account, you will need to request a distribution from your retirement plan to be deposited into your Cota Street IRA. To protect your retirement savings, many recordkeepers will only process distributions via check. 

• Make checks payable to: Matrix Trust Company, FBO <YOUR NAME>
• Reference on check memo line: TPA 000394
• Mail to: Matrix Trust (IRALOGIX), Attn: TPA 000394, P.O. Box 21767, New York, NY 10087-1767

• Ongoing Professional Advice – Receive customized advice on your portfolio by clicking on the Get Advice icon, which will direct you to the Morningstar advice engine. At the end of that process, you can either accept or reject the advice. If you accept the advice, your account will automatically be rebalanced to the new allocation;
• Do-It-Yourself – Select your own allocation from the funds available in the COTA St. IRA. You can change it as often as you like, at no additional charge, by clicking on the I will choose my own allocation icon.

We recommend you log into your account periodically to review your investment allocation, ensuring you stay on track to meet your goals.

Note: There are no additional fees for changing your allocation.

All you need to do is go to the login screen and click on the forgot username/password link, and your username and a new password will be sent to your email address.

Absolutely. To add to your account, simply log in, select the Manage tab and then select Make a Contribution. From there, just follow the instructions. That contribution can be a transfer from another IRA, a rollover from a retirement account, or come directly from your own bank account.

It is best to select a beneficiary(ies) as soon as possible, knowing you can always make changes. By designating a beneficiary(ies), upon your death, your IRA will be immediately controlled by that beneficiary(ies). If a beneficiary is not designated, still alive, or if we cannot locate any of the named beneficiaries after reasonable search, the account will be paid in the following order of priority:

1. surviving spouse;
2. children, including adopted children in equal shares (and if a child is not living, that child’s share will be distributed to that child’s living descendants;
3. surviving parents, in equal shares; or
4. estate.

You always have full control of your account. However, if you choose to withdraw funds from your account or another qualified retirement account, you may be subject to taxation and potential penalties.

The easiest way to exercise any of your withdrawal options is to log into your account, go to Manage, and select Withdraw Funds. You then complete and eSign an online distribution request.

Note that upon completion of the process, funds may take up to 10 business days to arrive at your requested location.

We are here to help! If you need assistance with an IRA transaction or have a question, contact our IRA Customer Care team. 

Phone: 855-610-5686
Email: support@iracustomercare.com
Fax: 412-532-3732
Mail: P.O. Box 6220, Pittsburgh, PA 15212-9998