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Automatic Rollover IRAs


Reunite missing plan participants with their retirement savings. 

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Automatic Rollover IRAs


Reunite missing plan participants with their retirement savings. 

When employees move on, they often leave retirement funds behind.

It can be difficult and time-consuming to track down missing and non-responsive participants. Lingering 401(k) balances left in your company's retirement plan can also be an administrative burden. The Department of Labor has specific rules on how you treat funds for missing participants.

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Let us find your missing participants at no cost to you.


GoldStar Trust Company has been servicing IRA customers since 1989.

 

Let us find your missing participants at no cost to you.


GoldStar Trust Company has been servicing IRA customers since 1989.

 

How it works:

By participating in an Automatic Rollover program, retirement Plan Sponsors can outsource administration of missing participant accounts with balances of $5,000 or less, transferring reporting requirements and leaving former employees in good hands.

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Key Program Benefits

  • Reunite employees with their money

  • Transfer IRS reporting requirements

  • No cost to Plan Sponsor

  • Reduce retirement plan costs

  • Reduce liabilities

  • Satisfy fiduciary responsibilities

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What happens when missing participants are located?


A simple online process allows them to claim their retirement funds held in a self-directed IRA established for them at GoldStar Trust.

Go to Auto-Rollover Claims Page
 

What happens when missing participants are located?


A simple online process allows them to claim their retirement funds held in a self-directed IRA established for them at GoldStar Trust.

Go to Auto-Rollover Claims Page
 

how we Locate your employees

As the IRA custodian, GoldStar Trust becomes responsible for locating missing participants. We do this with best in class, third party address searches at least once per year; correspondence attempts are made routinely. GoldStar can also help you with the initial notification mailing, fulfilling your compliance obligations with the DOL.


It's your responsibility

Before retirement plan savings can be distributed to missing participants, you first have to demonstrate what you've done to locate them. The Department of Labor allows Plan Sponsors a "Safe Harbor" for rolling missing participant account balances to an IRA custodian. We can help you do this. Contact us for an Automatic Rollover IRA Services Agreement to get started. 

View DOL Safe Harbor Requirements


Auto-rollover Ira options

Automatic Rollover funds are placed in a FDIC-insured, demand deposit account at GoldStar for each missing participant where balances earn a modest rate of return. GoldStar charges an annual fee (industry lowest) deducted automatically from IRA balances. When we find them, participants can request a distribution (a taxable event) or  explore multiple investment options once they take control of their new IRAs.

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Take care of your missing participants.


Take care of your missing participants.