IRAs
What do I need to know about ELF's IRA investment option?
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ELF does not directly offer IRAs. However, ELF partners with GoldStar Trust Company (“GoldStar”), through which funds can be invested in ELF via a Traditional or Roth IRA opened at GoldStar.
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GoldStar will generally accept rollovers or custodial transfers from an existing IRA or qualified retirement plan (e.g., 401k, 403b, pension).
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GoldStar’s Traditional and Roth IRAs are self-directed, which means you can direct your funds to be invested in ELF.
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GoldStar may charge fees on the IRA account, including for certain transactions, paper statements, and account termination, for which the investor is responsible. ELF is not affiliated with GoldStar, but we absorb the cost of the account maintenance fee charged to investors upon opening the account and annually thereafter.
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IRAs are governed by applicable provisions of the Internal Revenue Code and related regulations.
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How do I contribute to my IRA and invest those funds in ELF?To make an IRA contribution that is invested in ELF you must complete GoldStar’s Investment Direction Form and GoldStar’s Bank Draft Request Form found under “TRANSACTIONS” on GoldStar’s website by clicking HERE. You may submit completed GoldStar forms to GoldStar directly, or, as an administrative convenience, we will submit to GoldStar on your behalf any such forms we receive by email at elfinfo@iphc.org or by fax at 405-526-5011.
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When is interest added to my IRA?IRA Certificates accrue interest semiannually on June 30 and December 31. See “Description of the Debt Securities” in our Offering Circular for more information.
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How long does it take to receive a withdrawal from my IRA?After an investor completes and submits the applicable forms, It typically takes a total of 5 – 10 business days for ELF to redeem the IRA Certificate and for GoldStar to distribute funds out of the IRA to an account designated by the investor.
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How do I change the mailing address on my IRA?To change your IRA mailing address, you must complete GoldStar’s Account Update Request Form found under “ACCOUNT MAINTENANCE” on GoldStar’s website HERE. You may submit completed GoldStar forms to GoldStar directly, or, as an administrative convenience, we will submit to GoldStar on your behalf any such forms we receive by email at elfinfo@iphc.org or by fax to at 405-526-5011.
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What are your current IRA investment interest rates and do they change?See the “Current Interest Rates” section of our “Investments” page.
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How do I make a withdrawal from my IRA?To make an IRA withdrawal you must complete the applicable Distribution Request Form found under “TRANSACTIONS” on GoldStar’s website HERE. You may submit completed GoldStar forms to GoldStar directly, or, as an administrative convenience, we will submit to GoldStar on your behalf any such forms we receive by email at elfinfo@iphc.org or by fax to at 405-526-5011.
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How do I sign up for IRA online access with GoldStar?Please click “LOGIN” at GoldStar’s website which may be found by clicking HERE.
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When are statements sent for my GoldStar IRA that is invested in ELF?GoldStar IRA statements are sent in accordance with their policies in effect from time to time. To our knowledge, GoldStar’s current policy is to send statements quarterly for free if you are enrolled for online access and have elected electronic statements, otherwise, paper statements will be sent quarterly for a fee. For more information regarding GoldStar policies and fees, or to enroll in or access GoldStar online account features, investors must do so via GoldStar’s website which may be found by clicking HERE.
