Value of IRA account?
We have received multiple questions regarding the “fair market value” of the IRA accounts. We understand that if you are unable to provide your IRA custodian with a “fair market value,” the custodian may continue to report the investment’s “fair market value” at the IRA’s cost. As of yet, we have not undertaken a formal valuation of RV’s estate or more particularly your claims against the estate. Moreover, for a myriad of reasons, including without limitation, the lack of a market for your investment and the illiquidity associated with the underlying assets, we cannot provide you with a “fair market value” for your investment. The following information is offered solely so that you may make your own valuation and assessment as to whether you wish to report “fair market value” at cost or at some other amount. RV’s ability to repay the investors depends on our ability to capitalize on the insurance policies that RV acquired. As of 12/31/10, the estate of Retirement Value had: 1) Cash on
