What Happens if the FMV Is Not Received by the Deadline?

If the annual fair market value (FMV) is not provided by the deadline, STRATA will be required to resign as the custodian of the account due to noncompliance with IRS reporting requirements. In this case, the asset will be distributed directly to the accountholder. If a corrected IRS Form 5498 is filed, the fee will apply; the Late FMV fee and Account Closure Fee will also apply. The distribution of the asset will be considered a taxable event, and penalties and additional taxes may be incurred.

We will make every attempt possible to work with you to avoid these actions. Refer to STRATA's IRA Fee Schedule for a full list of service fees.