With regard to IRA accounts, when does the annual fee occur and how is it assessed?
New accounts are charged the annual fee at the day after they are funded. Existing accounts are charged based on the anniversary date of the account opening date. A debit balance will occur on the account if there is not enough cash to cover the fee. You are welcome to pay the fee separately rather than having it deducted from the account balance. Feel free to either submit an ACH transfer designating “trustee fee” as the deposit reason, or you can mail us a check designating “trustee fee” and the account number in the memo section.
