A fair market valuation (FMV) estimates the market value of an asset based on what a willing buyer would pay to a seller. Midland requires a Fair Market Valuation (FMV) once per year, per asset. You can update your FMV by using your Midland 360 online portal and can also update the value by submitting a Fair Market Valuation Form. To update the FMV of an LLC, submit the LLC Fair Market Valuation Worksheet.

Learn more about FMVs here.

An RMD is the required amount of withdrawn funds from a pre-tax account once the account owner turns 72. RMDs are also required for inherited accounts. Traditional IRAs and 401(k)s are examples of a pre-tax account.

View real case studies in which Midland clients took in-kind distributions.

Unrelated Business Income Tax is a tax for operating businesses that utilize tax-exempt entities such as retirement accounts. UBIT income derives from a trade or business regularly carried out by the tax-exempt organization that is not substantially related to the exempt organization’s exempt function. 401(k) assets are not subject to UBIT. UDFI is capital gains on the profits from the sale of real estate or other IRA assets. You will want to verify with a CPA if your investment may generate UBIT or UDFI.

View a case study that explains UBIT with a real-world example in a Limited Partnership investment.

The tax due for UBIT is reported on IRS Form 990-T, and the rates are based on the current Trust Tax Rates. Trust tax rates accelerate faster than corporate and individual rates. The tax is calculated and paid annually. There is no tax on the first $1,0000 of net income.

There are different contribution limits depending on your account type and your age. You can view the limits on our IRA contribution limits page.

Midland fees cover the administration of your IRA account(s). The annual fees associated with your account cover items such as tax reporting, account maintenance, custody of the asset on behalf of the IRA, and processing any incoming and outgoing funds. Additional one-time transaction fees may apply. View the Midland Fee Schedule for details.

IRS Form 5498 reports contributions and/or rollovers made to the IRA. Fair Market Valuation (FMV) is also reported on Form 5498. Midland files this form annually on or before May 31st. You are not required to file this form with your tax return. However, you can find it under the “Documents” tab of your Midland 360 portal.

Tax Form 1099 reports various types of income for a given tax year. Midland uses a 1099-R, reporting the distribution of funds from a retirement account. You can find your 1099-R under the "Documents" tab of your Midland 360 portal. This form is also mailed to any client who took a distribution no later than Jan 31st of the following tax year.

The email address on file receives an itemized breakdown of fees once a payment has come due or has been processed. Additionally, you can view all Fee Statements produced for your account under the “Billing” section of your Midland 360 portal.

You can utilize your Midland 360 online portal to create a custom snapshot for your account for a specified time. For a full, detailed account statement, go to your “Documents” tab. Midland uploads account statements quarterly.

In your Midland 360 online portal under the “Documents” tab, you can see all tax-related documents generated for your IRA. These documents include any historical documents from previous tax years.

You can use Midland 360 to update profile/account information, view billing related topics, initiate sending funds from your account for bill pays, distributions, and investment, view account activity, and view/download most account documents.

Fund your account by making a personal contribution or IRA to IRA transfer. If eligible, you may contribute by making a rollover from a 401(k) or other Qualified Plan. You can fund your account by filling out the appropriate form or by logging into Midland 360.

Rollovers are typically done between different types of retirement accounts. (i.e., IRA to 401(k)). Movements between like-kind accounts (i.e., IRA to IRA) are done as transfers. To roll funds over to another retirement account, we will need our distribution form completed and a signed letter of acceptance from the receiving plan/custodian. The difference between rollovers and transfers are the tax forms generated. Rollovers generate a 1099-R and typically a 5498.

Calculate your RMD using our online calculator. We recommend consulting with your CPA or tax advisor to get the exact RMD amount.

Update your FMV by logging in to Midland 360. You may also update your FMV by submitting a fair market valuation update form.

Learn more about FMVs here.

Update your contact information by logging into Midland 360 and clicking on “My Profile”.

You may request a distribution by logging onto Midland 360 and following the instructions below.

1. Go to "Request IRA Distribution" from the home screen once you are logged in.
2. Use the drop-down menu to select either "Partial Distribution," "All Available Funds," or "Full Distribution: Close Account."
3. Enter the Total Distribution Amount.
4. Use the drop-down menu to select whether you elect to have Federal Income Tax withheld.
5. Choose a Delivery Method and enter the Delivery Instructions.
6. Choose a Frequency (one-time or recurring).
7. Once you have entered the distribution request, click on the "Next Page to Confirm" button at the bottom of the page.
8. Review the summary page to ensure you have entered all of the appropriate details.
9. Lastly, submit your request by clicking "Submit Request" at the bottom of the confirmation page.

After submitting the request, it will immediately be sent to us for processing. Please allow up to three business days for review.

Depending on the characteristics of your distribution request, you may be getting a call from one of our distribution associates to verbally confirm the details of your distribution.

Alternatively, you can send us a distribution request by paper form via email, fax, or mail; however, there is a fee for us to process the request per distribution.

To request the liquidation of your trading account, please do the following:

1. Log into the Midland 360 portal.
2. Select "Trading Account Withdrawal" from Quick Links on the right-hand side of your home screen.
3. Enter the appropriate details, then click "Next Page to Confirm."
4. Review the information for accuracy and click "Submit Request" for processing.

Provided the funds are liquid and ready to transfer, funds are typically returned to Midland within two to five business days.

Once the funds are received, they will be deposited back into your account at Midland and you will receive a confirmation email of the deposit.

Transfers are requested when you are moving funds and investments between like-kind retirement accounts. (i.e., Traditional IRA to Traditional IRA). To transfer funds to another IRA custodian, you will need to contact the receiving custodian and complete their required transfer paperwork. You will need to return the transfer paperwork to the custodian for them to sign. They will forward the completed paperwork to us for processing. The receiving custodian may require a recent statement of your Midland account. You can pull this from your Midland 360 portal under the documents tab.

The information they will likely ask for on the transfer form includes:

• Current Custodian: Midland IRA
• Account Number: Please use your seven digit Midland IRA account number
• Overnight Address: 1520 Royal Palm Sq. Blvd., Suite 320, Fort Myers, FL 33919
• Mailing Address: PO Box 07520, Fort Myers, FL 33919
• Phone Number: (239) 333-1032
• Fax Number: (239) 466-5496

You can let the receiving custodian know they can fax the transfer form over to us as we do not need originals and do not require a medallion signature guarantee.

1. Submit a TAW request in our Midland 360 portal.
2. For a Transfer or Rollover, contact the receiving custodian for transfer paperwork or letter of acceptance. If it's a Distribution, wait for funds to come in from TAW, and then submit a distribution request in the Midland360 portal.
3. Once the funds come back to Midland from the trading account withdrawal and we receive the transfer paperwork or a distribution request, then we can send the funds over to the new custodian or you personally.

Submitting a bill payment is easy using Midland 360. Click here for instructions to pay your bill online.

You can invite a third party to send funds to your account through Midland 360 by clicking “Invite Payer” for the related holding. This action will send them an email to our Payment Portal site, enabling them to make a one-time payment or establish recurring payments to your IRA. We also offer the Midland Pay app in the Apple and Google Play stores. Your tenants or borrowers can download the app and select your investment. They can set up one-time or recurring payments directly to your account.

Once logged into Midland 360, click the “Billing” option at the top of your screen. From here, you can make a payment, update your billing method, and view all Fee Statements generated for your account.

Once logged into Midland 360, select “Create Statement” to generate an account snapshot for a specified time.

To update beneficiary information, complete the Change of Beneficiary form. You can send the form to Midland through our Secure Upload feature.

There are two levels of access you can grant on your account:

1. Interested Party Designation: This designation allows an appointed individual to call for general information on your account, view your account online, and receive emails related to your account if given permission. To grant this level of access, please complete our Interested Party Designation form. You can send the form to Midland through our Secure Upload feature.
2. LPOA: Allows an appointed individual the power to conduct all transactions in your account, except those listed on the form. To grant this level of access, please complete our Limited Power of Attorney form. Mail the original, notarized form to our office to update your account.

Disqualified Parties are certain people and/or entities with which your IRA cannot do business. IRC Section 4975 outlines these parties. For a list of Disqualified Parties, please view our Prohibited Transactions Guide.

Some types of self-directed transactions violate your IRA's basic intent. These transactions may subject your account to risks and penalties. Your retirement plan is not to benefit you before you reach retirement age. Actions providing immediate financial gain to the account holder or other disqualified persons/parties are not allowed. Examples include:

• Borrowing money from your IRA
• Selling, exchanging, or leasing personally owned property to your IRA
• Using your IRA as security for a loan
• Transferring plan income or assets to disqualified persons
• Lending IRA money to disqualified persons
• Extending credit on your IRA to disqualified persons
• Furnishing goods, services, or facilities to disqualified persons
• Allowing fiduciaries to obtain or use the plan’s income or assets for their interest

Download our Prohibited Transactions Guide for more details.

Self-directed IRAs can invest in alternative investments such as real estate, futures, forex, private lending, crowdfunding, precious metals, private equity, hedge funds, and more. A self-directed IRA cannot invest in life insurance products or collectibles. These assets include works of art, rugs, or antiques.

Midland does not advise clients. Midland has no responsibility or involvement in selecting or evaluating any investment. Nothing contained on our website shall be construed as investment, legal, tax, or financial advice or as a guarantee, endorsement, or certification of any investments. You will need to contact a CPA of Financial Adviser for any advice related to your IRA.

The client is solely responsible for completing the due diligence on any intended investment for their account. Midland IRA is not a fiduciary. Midland’s role as the administrator of self-directed retirement accounts is non-discretionary and/or administrative in nature. The account holder or his/her authorized representative must direct all investment transactions and choose the account’s investment(s). Midland has no responsibility or involvement in selecting or evaluating any investment. Nothing contained on our website shall be construed as investment, legal, tax, or financial advice or as a guarantee, endorsement, or certification of any investments.

Make an investment by logging onto Midland 360 and using the online buy feature. This feature allows you to input all relevant information for your specific investment and upload all documents required by Midland to administer the asset.

For Futures and Forex accounts, please submit a Trading Account Withdrawal request through Midland 360.

For all other investments, complete the Sale Authorization form to sell a portion or entire asset in your account. Once complete, you can upload through our Secure Upload feature, at which time a member of our service team will reach out with our Delivery Instructions for the sale proceeds along with any additional steps.

Midland does not offer any investments directly. To discuss your options for uninvested cash, please contact our office at 866-839-0429.

The timeline for an investment can vary depending on several factors:
Method of funding the account
Investment Type
Third Parties involved
Please contact a member of our client services team at 239-333-1032 to discuss the estimated timeline details of your investment.

Fees are charged on an annual basis based on the number of assets in your account or based on the total account value in addition to one-time fees related to processing an investment. Please view the Midland Fee Schedule for more details.