Anyone is eligible to use the FlexIRA. The FlexIRA includes 3 options that easily allow you to switch from one to another. By checking a box on the FlexIRA form, you can upgrade your Standard IRA to the Flex Protected Access or Flex Trust to meet more complex needs.
The minimum for our standard IRA account is $75,000.
The minimum for our Flex Protected Access option is $150,000 per beneficiary. If you have two beneficiaries, the minimum is $300,000.
The account minimum for the Flex Trust option is $250,000 per beneficiary. If you have two beneficiaries, the minimum is $500,000.
You can contribute $6,000 if younger than 50 years old and $7,000 if 50 or older.
As of now, you will need to start taking an RMD from your IRA account at age 72.
No, there can only be one owner of an IRA.
While the IRS may allow such holdings, we only service IRAs with marketable securities.
Yes! For incapacity protection, please choose the Flex Trust option.
Within our Flex Trust product, you can open an Inheritance Protection Trust (also known as a Spendthrift Trust), a Special Needs Trust, or a Charitable Remainder Unitrust. To learn more about types of trusts, visit our blog What is a Trust?
No, you’d simply need to check a box on the original account opening form to upgrade your account to a Flex Trust.
Yes. Please update your beneficiary designation form to access the companion trusts of the FlexIRA.
The FlexIRA can pair with a custom trust. Please contact us so we can review the trust document prior to opening the account.
No, the FlexIRA is offered directly through MTC via TrustDesk.