Opening Your IRA
General Questions
Funding Your IRA
Investing Your IRA
Contributions
Distributions
Roth Conversions
Fees
Tax Forms
Ongoing Account Maintenance
Please click on the following link to create an online account: https://clientportal.madisontrust.com/login
Annual Statements: Madison Trust mails annual account statements to accountholders at the close of each calendar year.
Quarterly Statements: Accountholders can access quarterly statement by logging on to their Madison online account. Quarterly statements are generated a month after the close of each calendar quarter (ie. April, July, October and January).
A copy of Form 5498 will be mailed to you by May 31st of the relevant year.
The IRS requires all IRA custodians to file form 5498 annually to report the fair market value (FMV) of the asset(s) held in your IRA based on the client-reported last-known-value.
Form 5498 indicates any rollovers, contributions, conversions and recharacterizations received in your IRA during the prior tax year.
Further, this form indicates whether the accountholder is required to take a Required Minimum Distribution (RMD).
The IRS does not require you to send a copy of Form 5498 with your tax return. The form is for your records only. Form 5498 is electronically reported to the IRS in June of the relevant year.
To add Beneficiaries on your account, please complete a new Beneficiary Designation form.
To change Beneficiares on your account, please complete a new Beneficiary Designation form and have it notarized.
The form can be submitted to us via fax (845-947-1212) or via our secure upload portal. Please keep in mind that all prior beneficiaries will be replaced once you submit the new Beneficiary Designation Form.
To designate an Interested Party or Authorized Representative on your account, please complete a Representative Authorization form.
An Interested Party is authorized to access account information but is not authorized to provide directions.
An Account Representative has full access to your account and is authorized to instruct Madison Trust concerning your account.
You can remove an Interested Party or Account Representative at any point in time by completing the same form.