We are verifying the steps required to close an IRA with Provident. However, for now, we can provide this guidance:
1. Download from the Provident Impaired Asset Form and the Letter from CEO.
2. Send an email to aulonarch@outlook.com or call Provident at 888-855-9856 to request your Provident IRA account number(s).
3. Complete the Asset Impairment Form as follows:
4. After Provident records the stock as impaired, a subsequent step is to complete and email a Provident IRA Distribution Request to withdraw the cash held in the account. By default, there is a fee for closing your account of $250. Some shareholders were instructed by Provident to request a waiver of this fee. We are still waiting for confirmation that this request will be honored.
To get authoritative information about how to close your Provident account in a way that reduces your fees, please call Provident at 888-855-9856 or email them at info@trustprovident.com.
These instructions might be revised as more information is gathered. Please check back for further updates.
(The following instructions were kindly provided by a shareholder. The instructions may be updated in the future as we learn more. Please check back for further updates.)
1. Download the Strata IRA Distribution Request form. (Even if you proceed electronically, you'll want to refer to this form.)
2. Go to https://www.stratatrust.com/resource-center/forms/#ira-distribution-request.
3. Expand the "IRA Distribution Request" and click on the "ServiceNOW" icon.
4. Fill in your email address and click "Get Started." In a few moment, an electronic form will open.
5. Under "Let's Get Started," fill in your name, account number, the last four digits of your social security number, phone, birthdate, email, and mailing address. (Your Strata account number can be found at the bottom of your monthly statements from Aulon.) Click "Next" to go the next page.
6. If you have a traditional IRA and are 59 1/2 or older, select these options, along with "Normal Distribution." If you are younger, select "Early Distribution." Select "Yes" for a One-time Distribution, and select "Complete Distribution" under Distribution Type.
7. Under Distribution Options, select "Cash and In-Kind Distribution," "All Available Cash," "Check," and provide your delivery information.
8. Under "In-Kind Registration of Assets," list "Aulon Arch, Inc. stock" (or "Aulon Arch Index stock" or "Aulon Arch Index II stock" if you invested in those companies). The number of shares will be on your last Aulon statement. Set the value to "$0.00."
(Note that the online form doesn't have an "accounting closing" option available in the "Select Your Distribution Options drop-down menu! You'll fix this later. In the meantime, choose the "Cash and In-Kind Distribution" option and fill in the information required by the form.)
9. Click "Next" to go to the tax information page. If you have any questions about taxes, please consult your CPA or other financial advisor. Select your tax options and click "Next" to proceed.
10. Under "Processing Fees," select "Deduct processing fees from cash...." on the electronic form and leave this blank on the PDF form. (There are actually no processing fees under the circumstances of a liquidation for total loss.)
11. If you're working solely with the PDF, sign the form, scan it, and email it to "operations@stratatrust.com." The electornic form will take you to a new page, where you can check (and correct) your work. Note that on page 2 of the form, you can now correct the "Re-Register / In-Kind" to "Liquidate." You may have to re-enter the name of the company and the number of shares you owned. The value remains $0.00.
Proceed to the electronic signature and submittal button to complete the process.