Investment Account Requirements

MLP Investor Relations

Investment Account Requirements

General Options for Account Holder / Account Type
You may invest in MLP investment accounts in several ways. This means you may title your account as:

  • Individual
  • Joint
  • Trust
  • Other Entity

 

Fee Structure
No fees, unless the account is established as a Self-Directed IRA, then those account fees will apply.
Required Documentation

  • Confidential Private Placement Memorandum
  • Private Offering Term Sheet
  • Promissory Note (only for Accounts Offering a Debenture)
  • Investor Data Sheet
  • If investing as an entity, organizational documents for your entity

 

Process and Timing
We will process your investment contribution and establish your account upon receipt of your investment and all required documentation.

Communication from Investor Relations

  • You will receive an Investor Confirmation from us once we have received and established your account.
  • You will receive quarterly distributions (if applicable) together with a quarterly MLP Investor Newsletter.
  • You will have private access to our Investor Relations Portal which provides information about MLP Investments and the underlying assets that support them, as well as articles / blog posts containing applicable and interesting information.
  • You may always reach out to our Investor Relations team for any questions or comments you may have.

Karen Butz Webb, Esq, Director. Karen@MorganLegacyPartners.com

Steve Spain, Investment Strategist. Steve@MorganLegacyPartners.com

Michelle Demirjian, Director of Finance. Michelle@MorganLegacyPartners.com

 

The Self Directed IRA Account Option
You may hold your account as a Self-Directed IRA. Please carefully read the requirements for this type of account.
When established, the funds will be initially invested in one of the MLP Investment Debenture Accounts. If you anticipate transferring to another available MLP investment, your initial investment will be placed in the MLP Investment, at the then existing interest rate for that account. Thereafter, a transfer to another available MLP investment may be made.

Fee Structure
IRA account fees are dependent on the investment made and should all be paid from your IRA account:

MLP Investment and MLP Equity Accounts

    • $50/year administrative fee; and
    • Valuation fee. This fee will depend on the way you choose to value your investment for IRS Code annual reporting requirements.* The following are the most common methods of valuation
      • $150 for valuation Opinion Letter from MLP;
      • The cost of an opinion of “fair market value” made by a broker or other qualified investment advisor (see the *Self-Directed IRA Valuation Addendum for some guidance as to this requirement), or
      • The cost of a formal appraisal.

If you have an Investment Account, the MLP Opinion Letter will be adequate. If you have any kind of equity investment you will have a choice of what to provide to the IRS. It is important to reiterate that it is your responsibility to update the value of the assets in your IRA annually and to choose the method to use. We are happy to provide financial information and valuations we have, but we make no representations as to the sufficiency of them for IRS purposes. The cost of any method of valuation will be made directly by you.

*The Self-Directed IRA Valuation Addendum attached hereto is for information only. We do not warrant, represent or otherwise guaranty that any information contained herein is in compliance with current IRS regulations or will satisfy IRS requirements. We strongly encourage you to speak with your IRA custodian, tax accountant or investment advisor regarding reporting and other IRS Code requirements and to ensure compliance with IRS regulations.

 

Required Documentation

  • Confidential Private Placement Memorandum
  • Private Offering Term Sheet
  • Promissory Note (only for Accounts Offering Debentures)
  • Investor Data Sheet
  • Custodian Documentation, governing the transfer of funds and compliance with IRS Code requirements

 

Process and Timing
We will process your investment contribution and establish your account upon receipt of your investment and all required documentation from you and your custodian.
Distributions will be made from your account to the custodian and then reinvested by your custodian into your MLP IRA account.

 

Communication with Investor Relations

  • You and your custodian will receive an Investor Confirmation from us once we have received and established your account.
  • Your custodian will receive quarterly distributions (if applicable), which will then be returned to your MLP account, unless you are taking those distributions. In either case the quarterly distributions (if applicable) will be sent to your custodian for further action.
  • You will receive a quarterly MLP Investor Newsletter.
  • You will have private access to our Investor Relations Portal which provides information about MLP Investments and the underlying assets that support them, as well as articles / blog posts containing applicable and interesting information.
  • You and your custodian may always reach out to our Investor Relations team for any questions or comments you may have. We are:

Karen Butz Webb, Esq, Director. Karen@MorganLegacyPartners.com

Steve Spain, Investment Strategist. Steve@MorganLegacyPartners.com

Michelle Demirjian, Director of Finance. Michelle@MorganLegacyPartners.com

*Self-Directed IRA Valuation Addendum

IRS Regulations require annual valuation of any asset held in your self-directed IRA account. We understand that the IRS Code requires submission of a “fair market valuation” completed by a qualified, independent third party. This is typically defined as an estimate of the market value of your asset, based on what a willing and knowledgeable buyer would pay a willing and knowledgeable seller, and does not necessarily mean that an appraisal is required. The following represent some general guidelines.

  • MLP Investment Accounts may be valued by an MLP Opinion Letter.
  • Equity investments will likely require a more in-depth valuation. Equity investment valuations may be reported from:
    • A property tax bill;
    • A Comparative Market Analysis (CMA) by a licensed real estate broker specializing in that particular market; or
    • An Opinion Letter on MLP Letterhead. Please note that if you request this from us it will be based on our typical annual financial reporting for each investment. Special valuations will not be made.
  • Generally, an appraisal is required only in limited circumstances, which may include:
    • Taking an in-kind distribution;
    • Converting an asset to a Roth IRA;
    • Recharacterizing and asset; or
    • Calculating or taking a required minimum distribution.
  • Other guidelines regarding valuations indicate that:
    • The cost of any valuation should be paid by or through your IRA account;
    • You must submit appropriate supporting documentation and make sure the documentation is acceptable for your transaction. Not all supporting documents are sufficient for all transactions.

Please note that the preceding information is intended to provide general guidance only. We are not tax advisors or IRA custodians, nor do we have expertise with IRS Code Regulations. Accordingly, we make no warranties or representations regarding these suggestions or their compliance with IRS regulations. We strongly encourage you to speak with your IRA custodian, tax accountant or investment advisor regarding reporting and other IRS Code requirements.

 

All information contained in the Investment Account Requirements and its Addendum are subject to change and any such amendments will be provided to you.

Dated: December 2021

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• All Rights Reserved • Morgan Legacy Partners • Crafted by Schall Creative
Krysten Reily

Krysten Reilly

Operations Manager

MFF Status: Morgan Franklin Fellowship Foundation

Business/Organization: Morgan Legacy Partners

About: Krysten Reilly serves as the Operations Manager with Morgan Legacy Partners. Before Krysten embarked in this career, she was working in hospitality management in New England, managing hotel and restaurant operations in Maine and Massachusetts. Krysten started her career in hospitality management first as the Assistant Food & Beverage Manager of a hotel restaurant but then quickly rose through the ranks to become the General Manager of two hotels within the same hotel group’s portfolio. Krysten holds a Bachelor of Fine Arts and a Master of Science from Syracuse University. Krysten lives in Charlotte, North Carolina, where she serves as Morgan Legacy Partner’s Carolinas representative.

Specialties: Hospitality and Operations Management, Events Management, Revenue Management, Runner, Snowboarder, Hiker, Outdoor Enthusiast