Does Sunwest Trust offer any investment products or give any investment advice?

No, Sunwest Trust acts as a passive custodian. We do not offer any investment or tax advice, nor do we sell any investment products. We simply facilitate your ability to invest in non-traditional assets.

How are you regulated?

Sunwest Trust is regulated by the New Mexico Financial Institutions Division, which is the same government entity that regulates banks in the state of New Mexico.

Is Sunwest Trust a private or public company?

Sunwest Trust is a privately owned company located in Albuquerque, New Mexico.

Is Sunwest Trust FDIC insured?

Sunwest Trust is not a bank. We are a trust company that acts as an IRA Custodian. However, all of the banks that we use are FDIC insured up to $250,000.00. If you have more than $250,000.00 in cash with Sunwest Trust, we have a program in which we split up the funds between several banks in order to ensure that your entire cash balance is FDIC insured.

Which banks do you use?

We have business relationships with several different banks in the Albuquerque area. Here are links to the banks that we use: http://www.fsbnm.com/ (First Community Bank), http://www.bankingunusual.com/ (Peoples Bank), http://www.washingtonfederal.com/ (Washington Federal), http://www.bankofthewest.com/ (Bank of the West) and http://www.sunrisebankabq.com/ (Sunrise Bank of Albuquerque).

Are you audited?

Yes, Sunwest Trust is audited three times annually. We are audited by the New Mexico Financial Institutions Division, a company called Collin Fritz performs an annual private audit and we also have a local CPA firm who audits us annually.

Do your annual fees include all charges? Are there any hidden fees for “administrative costs” or “inactivity fees”?

Our fees are very straight forward. We have a one-time setup fee of $50.00 and we charge $225.00 a year to maintain the account. The fee is a flat fee, regardless of how much money you have in the account or how many assets you hold in the IRA. We also charge $25.00 for any outgoing transactions, but incoming transactions are free.

What is your billing cycle?

All accounts are billed on the Anniversary date of the account, not by the calendar year. You will have 30 days to pay from the date that you receive the invoice. If you have not paid within 30 days, the fees will be deducted from your cash account.

How much assistance is available and by what method?

We do not have any attorneys or tax professionals on staff, so we are unable to answer any tax or legal questions. We are happy to help you with any account questions or basic IRA questions that you may have. You may reach us by phone, email or by coming to the office.

What types of educational materials do you provide?

We offer a wide variety of both written and multi-media materials on our website. Please visit our video library to see videos on everything from setting up your IRA to information on Individual 401(k)s.

How are investments processed?

All investments must be submitted to Sunwest Trust in writing on an Instruction for Investment form. Most transactions are processed in less than 3 business days. We must have all required setup documentation and proof of investment before any investments will be made.

Do I have to have an LLC to have a self-directed IRA?

No, you do not have to setup an LLC in order to have a self-directed IRA. However, many clients like the convenience and added protection that having an LLC provides.

What are your hours of operation?

9:00 a.m. to 5:00 p.m. Mountain Standard Time. Monday through Friday.