2018 FMV Letter and Form in the Mail Soon

It will soon be time for fair market valuations (FMVs) for year-end 2018. Kingdom Trust is required to obtain an FMV annually for each investment held by our account holders to complete our filings with the IRS.

Kingdom Trust will mail an FMV letter to applicable account holders later this month.

Included with the letter is a valuation form to be completed for each applicable asset held in a client’s account. The included form will be the Fair Market Valuation form or the Single-Member LLC Holdings form, depending on the asset(s) held by the client. The latter document is new for 2018 due to new regulatory requirements.

Please read through the form(s) carefully before completing and returning it to Kingdom Trust. The Fair Market Valuation form may be completed by the account holder OR a qualified, independent third party valuator and submitted with supporting documentation, if necessary. However, cash assets, digital currency, precious metals, publicly traded assets or brokerage accounts do not require a fair market valuation.

Remember IRA-owned single-member LLC holders must provide a detailed breakdown of holdings via the Single-Member LLC Holdings form.

If necessary, please include any supporting documentation related to the valuation and submit along with the form.

All December 31 year-end values must be submitted to Kingdom Trust by January 7, 2019. You may submit via mail to Kingdom Trust, P.O. Box 870, Murray, KY 42071; by email to [email protected] or by fax to 270.226.1001.

Should you have any further questions, please contact our office.

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