Open an Account

The checklist provided is for the personal use of our clients in the opening of their new account. Quest IRA does not require this form to be completed or returned at any time, but rather gives clients this form to make sure they have all of the necessary paperwork.

EZ IRA Kits

There are several different types of accounts that can be opened at Quest IRA. The account opening process is simple, and with all required documentation, the process will take a total of 24-48 hours. All new account paperwork can be sent to newaccounts@questira.com or by fax to any of our offices.

The Traditional IRA is widely known for its tax advantages, as the account owner does not pay taxes upfront, but rather in the future. In 2014, the contribution limit for this account that grows tax-deferred is $5,500. Once over the age of 50, there is a “catch-up,” amount of $1,000 added, bringing the total contribution limit to $6,500 for those who are 50 years of age and older.

2014 & 2015 Contribution Limits:
$5,500
$1,000 catch-up

[PDF] DOWNLOAD TRADITIONAL IRA STARTER KIT
[PDF] DOWNLOAD (5305) CUSTODIAL AGREEMENT

Submit Your Forms: All forms can be mailed or faxed to any of our locations or emailed to NewAccounts@QuestIRA.com.

NOTE: You must still mail the originals to any office.

The IRA owner of a Roth must pay taxes upfront for all money contributed, however all growth within the account is tax free.  This is a major advantage for the younger population, as they can make contributions over a lifetime and watch their funds grow.  In 2014, the contribution limit for a Roth IRA is $5,500, and also allows for a $1,000 “catch-up” for those over the age of 50.

2014 & 2015 Contribution Limits:
$5,500
$1,000 catch-up

[PDF] DOWNLOAD ROTH IRA STARTER KIT
[PDF] DOWNLOAD (5305) CUSTODIAL AGREEMENT

Submit Your Forms: All forms can be mailed or faxed to any of our locations or emailed to NewAccounts@QuestIRA.com.

NOTE: You must still mail the originals to any office.

The Simplified Employee Pension IRA is a type of retirement account used by those who own businesses.  The account allows for the owner to contribute to his own account as well as accounts for the business’ employees.  Contributions can be made by the employer to a maximum of 25% of the employee’s salary.  The contributions made to the accounts in a SEP IRA must be in equal percentages for all qualifying employees.  A self-employed individual can contribute up to 20% of their net earnings (Schedule C).  The contribution limit for 2014 was increased by the IRS to a total of $52,000.

2014 Contribution Limits:
$52,000

2015 Contribution Limits:
$53,000

[PDF] DOWNLOAD SEP IRA STARTER KIT
[PDF] DOWNLOAD (5305) CUSTODIAL AGREEMENT

Submit Your Forms: All forms can be mailed or faxed to any of our locations or emailed to NewAccounts@QuestIRA.com.

NOTE: You must still mail the originals to any office.

A Savings Incentive Match Plan for Employees IRA is another type of employer plan.  With a SIMPLE IRA, the employer matches up to 3% of compensation and the contribution also grows tax deferred.  The contribution limits for a SIMPLE retirement account is a maximum of $12,000.  For individual 50 years of age or older, there is a “catch-up” of $2,500, bringing the total contribution to $14,500.

2014 Contribution Limits:
$12,000
$2,500 catch-up

2015 Contribution Limits:
$12,500
$3,000 catch-up

[PDF] DOWNLOAD SIMPLE IRA STARTER KIT
[PDF] DOWNLOAD (5305) CUSTODIAL AGREEMENT

Submit Your Forms: All forms can be mailed or faxed to any of our locations or emailed to NewAccounts@QuestIRA.com.

NOTE: You must still mail the originals to any office.

The Coverdell Education Savings account was created to aid in the process of sending a beneficiary to school.  An ESA can be used for all qualified educational expenses until the beneficiary reaches the age of 18.  The contribution limit for an ESA is $2,000 and all gains, as well as qualified expenses are tax free.

[PDF] DOWNLOAD ESA STARTER KIT
[PDF] DOWNLOAD (5305) CUSTODIAL AGREEMENT

Submit Your Forms: All forms can be mailed or faxed to any of our locations or emailed to NewAccounts@QuestIRA.com.

NOTE: You must still mail the originals to any office.

A Health Savings Account can be used for all qualified medical expenses.  To qualify for an HSA, the individual must:

  • Have a High Deductible Health Plan
  • Not be enrolled in Medicare
  • Not claimed as a dependent on tax return

The contributions toward an HSA are tax deductible and tax free for all qualified distributions.  The 2014 contribution limit is $3,300 for an individual and $6,550 for a family, with a “catch-up” of $1,000 for individuals over the age of 55.

2014 Contribution Limits:
Single – $3,300
Family – $6,550
$1,000 catch-up

2015 Contribution Limits:
Single – $3,350
Family – $6,650
$1,000 catch-up

[PDF] DOWNLOAD HSA STARTER KIT
[PDF] DOWNLOAD (5305) CUSTODIAL AGREEMENT

Submit Your Forms: All forms can be mailed or faxed to any of our locations or emailed to NewAccounts@QuestIRA.com.

NOTE: You must still mail the originals to any office.

Quest IRA offers a special type of account designed to benefit those who are investing their retirement account in precious metals.  For more information on this type of account please consult an IRA specialist for a free consultation in one of our offices.

[PDF] DOWNLOAD PRECIOUS METALS IRA STARTER KIT
[PDF] DOWNLOAD (5305) CUSTODIAL AGREEMENT

Submit Your Forms: All forms can be mailed or faxed to any of our locations or emailed to NewAccounts@QuestIRA.com.

NOTE: You must still mail the originals to any office.

Open a 401k

This type of account is one of the most common retirement accounts in the United States, which takes funds pretax from an employee’s wages.  Due to the nature of 401K plans, we ask that you please contact one of our IRA specialists for more information on setting up your account.

Contact us for opening a 401k

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Quest IRA, Inc. does not offer this type of account.

Those who choose to enter into this type of IRA investment structure must understand the complexity of the law on which this structure is built.  In addition, the individual must understand the rules associated with prohibited transactions and how to operate a registered business entity.  A popular idea in the self-directed IRA industry is to have what some refer to as a “checkbook control” IRA.  These types of accounts have been under heavy scrutiny by the IRS.  Click the link below to listen to Quest IRA President, H. Quincy Long, discuss the dangers of Checkbook control IRA LLCs.

The Dangers of Checkbook Control IRAs

Click Here To Listen

For more detailed background on why we do not offer this type of an account:

Read articles on Checkbook Control/IRA LLCs for more information