Fair market value (FMV) letter and form mailed

It’s the time of year for the 2015 valuations. As a qualified custodian, Kingdom Trust is required to obtain a fair market value annually for each investment held by our account holders to complete our filings with the Internal Revenue Service.

With that in mind, please note that a fair market value (FMV) letter has been mailed to applicable Kingdom Trust account holders. Included with the letter is a Fair Market Valuation form to be completed for each applicable asset held in a client’s account.

Please read through the form carefully before completing and returning it to Kingdom Trust. The valuation may be completed by the account holder OR a qualified, independent third party valuator and submitted with supporting documentation, if necessary. Cash assets, precious metals, publicly traded assets or brokerage accounts do not require a fair market valuation (this does not include any such assets held in an IRA-owned Single-Member LLC, however).

Note that all December 31 year-end values must be submitted to Kingdom Trust by January 8, 2016.

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