Most deposits are made by check.
Personal, corporate and cashier's checks
are acceptable.All checks should
be payable to SCHWAB INSTITUTIONAL.
You may either mail or bring a check
to RLC.
Whichever method you use, you must
specify which account you want the funds
deposited in (by account number and
account holder's name). If the deposit
is made to an IRA account, you will also
need to specify if it is a contribution,
transfer of funds, or a rollover.
You may also use a wire transfer to
deposit funds to your account. Please
call our office and we will give you the
current wiring instructions. Deposits of
cash are not accepted.
If you have a non-IRA account and
want a check sent directly to your
address of record, you may call RLC and request a withdrawal over the
phone or send us an e-mail. If you want your withdrawal sent elsewhere
(i.e., your bank), you must give RLC a signed letter of instruction
(by mail or fax).If you
completed Money-Link paperwork to set-up your bank information, the
money can be sent to your bank account via ACH or wire.
If you have an IRA account: If you completed
Money-Link paperwork to set-up your bank information, the money can be
sent to your bank account via ACH or wire.You may request a check be sent to your address of
record without any additional paperwork. We will mail or fax you the
form for completion. (Or, click on
"Forms Online" to print out this form.)
When the form is returned to RLC (by
mail or fax), we will fax it to Schwab
Institutional for immediate processing.
Please note that your account may not
have enough cash in the Schwab Institutional
money market fund to meet your
withdrawal request on the day you make
it. If this is the case, we will sell
all or part of a fund in your account to
provide enough cash. This cash is
usually available on the next business
day, and the day after that, a check can
be sent from Schwab Institutional,
at no charge to you.Please allow
a minimum of 5 business days to complete
this process.
Also available for an extra fee
are overnight delivery to your address
of record or a wire transfer to your
bank account. Schwab Institutional charges $8.00
for overnight delivery and $25.00 for wire
transfers. Additionally, your bank may
charge a fee to receive a wire transfer.
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Can I set my
account up for monthly, quarterly or
annual withdrawals or distributions?
If you have an IRA account, a Schwab
Institutional IRA Distribution form must be
completed to set-up the distribution. We will mail or fax you the
form for completion. (Or, click on
"Forms Online" to print out this form.)
When the form is returned to RLC (by
mail or fax), we will fax it to Schwab Institutional for immediate processing.
It takes 10 working days to set-up the Money-Link
option to send funds to your bank account so please allow time for the
set-up prior to the first date of distribution.
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How do I change my
address of record and telephone
number on my account?
Just let us know you have moved or
are moving and we will send you a change
of address form to complete, sign and
return to us. (Or, click on "Forms
Online" to print out this form.) Or you
can log in to
www.schwaballiance.com and complete the address change yourself.
If you do this, please email us the the address change for our system
as well.
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Why do my GoldKey
statement and Schwab Institutional statement have
different balances?
The Gold Key Statement is issued on
the 15th of the month and the Schwab Institutional Statement is issued on the last
business day of the quarter (or month if there was
activity in the account). Both
statements show the actual balances on
the day they were printed, without
regard for dividend and capital gain
distributions that may be credited
later.
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I will be 70½ years old this year,
how do I start my required
IRA distributions?
Schwab Institutional is required to send you a
reminder letter and an IRA distribution
form in September of the year you
turn 70½. You may figure the minimum
required distribution yourself
(following the instructions on the
form), contact your CPA for assistance,
or allow Schwab Institutional to figure the
minimum for you. If you need assistance
in completing the distribution form,
simply contact our office. Return the
IRA distribution form to RLC for
processing.
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What information will I receive for
my income tax
reporting?
You will receive a Year-end Statement
from Schwab Institutional. This statement serves as
your form 1099, listing all interest,
dividends, and short term and long term
capital gains reinvested in your non-IRA account(s).
The only tax reporting on IRA accounts
would be on distributions received during
the year. If you have received any
distributions from your IRA account(s),
Schwab Institutional will send you a
form 1099R showing distributions and taxes
withheld.
We will also send you a Schedule D
worksheet to help you or your CPA
calculate short and long term capital
gain/loss proceeds from sales in your
account during the calendar year.
