Got QUESTIONS? We’re here to help.
Below are some frequently asked questions about recent changes to our statements. If you don’t find the answer to your question, please contact us at 1.800.486.6888 or via our contact form.
Investor Services Hours:
Monday – Thursday 7am-5pm CST
Why do the statements look different?
Our system upgrade allowed us to enhance our statements.
What is the asset allocation section telling me?
This section provides a graphic of the breakdown of assets, including cash, held within your account.
The activity summary section values don’t add up, why not?
This section just highlights certain transactions that took place and is not a full accounting of what happened on the account.
I recently made a purchase, why isn’t it showing?
Depending on the date of your purchase it may not show, as these statements only include transaction made from 07/1/2019 through 12/31/2019.
What does cost basis mean?
This is the amount that was originally paid for your asset.
Why is there a section for ‘tax year’ if it isn’t always populated?
The ‘tax year’ section is to show when transactions are for prior years. An example would be when a client makes a prior year contribution to their Traditional IRA.
What does receive free mean?
When you see the term “receive free” it means that a transfer in of an asset as occurred or that the principal increased on an asset. This will cause the cost basis within the asset to show $0.00 as no cash actually posted into the IRA.
What does free deliver mean?
When you see the term “free deliver” it means that a transfer out of an asset as occurred or that the principal decreased on an asset.
What does Fee Debit Auto Pay mean?
This description means that the fee was paid from the available cash in the account.
What does balance forward mean?
Balance forward means that a previously assessed fee is still outstanding and is being carried forward.
The activity summary section shows a line item of ‘sales’ what does that mean?
This line item appears if a transaction was entered without the proper cost basis. The cost basis could be incorrect or missing altogether.
I have past due fees, how do I pay them?
Can I make a contribution to my IRA?
Yes, contributions can be made via check. Checks should be made payable to GoldStar Trust Company FBO: (client name) and include the tax year the contribution should be applied. Forms are available on our FORMS page under FUNDING.
Why is my SEP/SIMPLE contribution showing the incorrect year?
Per IRS regulations GoldStar must post the SEP/SIMPLE contribution in the year it is received.
How do you figure the unrealized gain/loss?
To figure the unrealized gain/loss you will take the market value and subtract the cost basis.
Can I view my statement(s) online?
Yes, statements will be made available through the online platform within 30 days of the ending statement date.