IPX Trust Logo

Due to higher than average call volume, you may experience extended hold time. Please utilize our online options if possible.

IPX Safe Harbor IRA Frequently Asked Questions

Ready to get started?

Take Action on
My Account

What is an IRA?

An IRA, which is the acronym for Individual Retirement Account, is a personal savings plan which allows an individual to set aside money for retirement while offering the IRA owner tax advantages.

How did IPX Trust® receive my account?
Your former employer has elected to rollover your retirement account funds into a Safe Harbor IRA for you at IPX Trust®. This action is permitted by your retirement plan’s mandatory rollover provisions and was taken because your former employer was unable to reach you.
Why do I need to submit a Safe Harbor IRA account application?

Safe Harbor IRA accounts are transferred to IPX by your previous employer or by a third party. The account application is required to transfer ownership of the account to you before any distribution/transfer takes place.

How do I transfer my Traditional IRA to another Custodian?

Transfer or Rollover requests can be completed online or via mail:

  1. Online Submission
    • Complete an IRA distribution request form, providing the new custodian information in Category 1.
  2. Paper Submission
    • Complete the IRA Account Application/ID verification by visiting myira.ipxretirement.com and select “Take action on my account.” Select “Accept my account”. In addition, the Transfer paperwork from the new custodian is required.
    • If the new custodian is Thrift Savings Plan, we require the Thrift Savings Plan Request for a transfer form filled out, at the time of distribution.
Can I rollover my Roth account to a new employer plan (Direct Rollover)?

Current regulations prohibit the rollover of a Roth IRA to a new employer sponsored plan, regardless of plan type. However, you can transfer your Roth IRA to another Roth IRA with a new custodian.

I work for a successor custodian, what documents does IPX require to transfer a client’s funds?

IPX requires:

  1. Transfer paperwork and Letter of Acceptance from the receiving institution.
  2. IPX Account Application signed by the participant
  3. Medallion Signature Guarantee may be required.
    • The participant can submit the Application online or via paper form
    • Paper form submissions require a copy of a valid ID.
    • Transfer paperwork can be sent separately, by the custodian.

The participant can complete both Application and Distribution forms with the new custodian information. Transfer forms from the custodian are not required if this option is elected.

What information is required on the distribution form when rolling over/transferring my account?

New custodian information.

Payee: Custodian Name

Address: Custodian Address

Account Number: New IRA/Employer Sponsor Plan account number

How do I take a full distribution and close out my account with IPX?

Please visit myira.ipxretirement.com and select “Take Action on My Account.” Electing a full distribution or Rollover will close your account with IPX.

Can I take a partial distribution, or do I have to withdraw all funds from my account?

You have the ability take partial distributions via our online or paper processes. A distribution fee will be assessed for each withdrawal.

Can I take scheduled payments from my account?

IPX does not offer scheduled distributions from your Safe Harbor IRA. Please visit myira.ipxretirement.com and select “Take Action on My Account.” You can elect a partial distribution each time you wish to withdraw from your account. A distribution fee will be assessed for each withdrawal.

Can I contribute to my Safe Harbor IRA account?

You cannot make contributions into your Safe Harbor IRA account.

What if an account owner has passed away?

If an account owner passes away, the account would need to be claimed in the following order:

  1. Surviving Spouse
  2. Child(ren) of Decedent
  3. The Estate, e.g. Parent or sibling of deceased account owner

If there are multiple children, the funds are split equally. Please call us for more information at 1-844-788-3474.

Will I need to have a Medallion Signature Guarantee?

A Medallion Signature Guarantee may be required depending on the account balance and the type of distribution request.

How long will it take for the distribution to process?

Distribution requests are processed within 7-10 business days after paperwork is reviewed and approved by IPX.

Still having trouble completing your paperwork online?

Please call us for assistance at 1-844-788-3474.