Current Clients
Who should I call if I have any questions regarding my account?
For my IRA account, how do I make a contribution?
For my IRA account, how do I get the required minimum distribution (‘RMD’)? Who calculates the RMD?
If I want to deposit or withdraw money from my account, what do I need to do? How long will it take for the money to be deposited or withdrawn?
Is there a contact I can have at the custodian?
Can I have online access to my accounts?
Who should I call if I have any questions regarding my account?
Mishaal Husain runs our back-office operations and is more than happy to assist with any client needs or questions. She can be reached at the main office number (203-714-9900).
For my IRA account, how do I make a contribution?
To make an IRA contribution, please contact Mishaal Husain (203-714-9900) and let her know how you would like to deposit the money (bank wire, ACH transfer, or check). All that we need is for you to send us a check or contact your bank to give them instructions to send the money to the custodian (e.g. U.S. Bank). Mishaal will assist you in providing the appropriate account information at the custodian to your bank.
For my IRA account, how do I get the required minimum distribution (‘RMD’)? Who calculates the RMD?
Most of our clients already receive a form from the custodian at the beginning of each year which authorizes them to send funds out of an IRA account. Completion of this form (and its return to the custodian) will allow you to easily take out your RMD when the time comes. If you do not send in the form, Scholtz & Company will send you a W-4P form to fill out which can also be used to obtain the RMD. Then, simply let us know when you would like to have the RMD sent to you. Most of our clients have their RMDs calculated by their custodian or their own personal accountants. If you do not have an accountant or would like to calculate it yourself, you can use this RMD calculator on FINRA’s website. Scholtz & Company is willing to assist with this calculation, but we are not tax accountants and thus provide this advice only as an unofficial courtesy.
If I want to deposit or withdraw money from my account, what do I need to do? How long will it take for the money to be deposited or withdrawn?
There are multiple ways to deposit or withdraw funds from your account including sending/receiving a check, money wires, and ACH transfers. To initiate a new deposit or withdrawal, simply contact Mishaal Husain (203-714-9900) to let her know what transaction-type you would like to perform and she will give you instructions regarding account numbers, etc. Usually the type of transaction performed is determined based on the speed at which the client would like the transfer to occur. Bank wires usually take 1 day to complete, ACH transfers take 3-4 days, and checks can take 4-7 days to clear based on the amount of time it takes to move through the mail system (note: overnight delivery is possible).
Is there a contact I can have at the custodian?
If you would like to deal directly with the custodian, we are able to give you a representative to call. However, our experience has been that the process runs far more smoothly and is far more convenient for our clients, if they direct all questions or requests to us and we will deal with the custodian.
Can I have online access to my accounts?
Yes. Scholtz & Company clients can log-on to the custodian’s (typically, U.S. Bank) website to check account positions and activity daily. Please contact us to help with the initial set-up. Additionally, the custodian will send clients a monthly statement in the mail.