Understanding Fair Market Value (FMV) and FMV Letters
Fair Market Value (FMV) represents the current worth of an investment. In simple terms, it is the price at which you could sell ownership stake to a willing buyer in an open market. FMV reflects the investment’s real-time value, taking into account factors such as total contributions and any returns of capital.
A Fair Market Value Letter is an official document that provides an annual valuation of your holdings, showing the FMV as of a specific date. These letters are often required by IRA custodians for tax reporting, financial planning, and compliance purposes, giving you a clear and accurate record of your investment value at year-end.
Who Needs an FMV Letter?
FMV letters are typically requested at the end of the year by IRA custodians to help with compliance and contribution tracking. As an investor, you can easily download your FMV letter by following the simple steps outlined below.
Note: Most IRA custodians request FMV letters annually. However, if you are an Equity Trust investor, FMV letters are typically requested only when your investment values change
Steps to Download Fair Market Value (FMV) Letters
You can follow the below steps to download their FMV letters:
Step 1: Navigate to Documents > Tax Documents > Download FMV Letter.
Step 2: A pop-up will appear, allowing investors to select the valuation date, which is typically the end of a given year.
Step 3: Filter by profile names to find the relevant accounts, select all active and past investments to include in the FMV letter, and click Download FMV Letter. A PDF version of the letter will then be downloaded to your device.
You can also access the document(s) anytime under Documents > Miscellaneous.
Platform allows you to retrieve and download FMV letters for up to the past three years.
For more information on what you can do with your investor portal, please click here.
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