Except for the Rainy Day Fund, all individual Texas District CEF investments (FLEX, fixed and floating rate notes) may be included in a person’s IRA portfolio. Through our custodian GoldStar Trust Company, Texas District CEF offers:
Types of IRAs
Traditional IRAs help you to save for your retirement by allowing the earnings to grow tax-deferred. Contributions may also be tax-deductible if you meet certain conditions. Distributions from the IRA are generally taxable at the time of withdrawal.
Roth IRAs’ advantage to saving for retirement is tax-free distributions if certain conditions are met. You must have earned income to open a Roth IRA. Contributions are not tax-deductible.
ESA (Coverdell Educational IRAs)
A Coverdell Education IRA can be used to make annual non-deductible contributions on behalf of a child under the age of 18. The earnings will remain tax-deferred while in the ESA. When the child uses the ESA to pay for qualified education expenses, the contributions and earnings are distributed tax free.
SEP (Simplified Employee Pension Plan)
A SEP Plan allows employers to contribute to traditional (SEP-IRAs) set up for employees. A business of any size, even self-employed can establish a SEP.
Savings Incentive Match Plan for Employees (SIMPLE) allows employees and employers to contribute to traditional IRAs set up for employees. It is ideally suited as a start-up retirement savings plan for small employers not currently sponsoring a retirement plan.
How do I invest in a Texas District CEF IRA?
Complete the forms from the section below to establish an IRA; visit GoldStar’s web site for additional options. The Simplifier only needs completion with your first Texas District CEF IRA investment. Additional investments to the same type of IRA (Traditional, Roth, SEP, etc.) only require a Texas District CEF IRA Investment Application, CEF IRA Investment Authorization and a check to GoldStar Trust Company. Transfers and Rollovers require an additional form and documentation.
Return your completed forms to Texas District CEF. Texas District CEF will pay the annual $75 dollar fee that GoldStar charges for IRAs.
For Brand New IRA with Texas District CEF
For IRA Rollover
For IRA Transfer or Direct Rollover
(Transfer funds from another qualified IRA or qualified retirement plan. Funds are transferred directly to GoldStar Trust Company)
For Roth IRA Transfer
(Transfer funds from Roth IRA to open another ROTH IRA. Funds are transferred directly to GoldStar Trust Company)
All IRA Forms
- IRA Investment Application – used to open any form of IRA investment with CEF. Checks must be payable to GoldStar Trust Company rather than Texas CEF.
- IRA Investment Authorization – instructs GoldStar to include this CEF investment in your IRA portfolio.
- IRA Rollover Certification – Complete this form only when initiating a 60-day rollover of assets previously distributed to you from an IRA or Employer-sponsored retirement plan.
- IRA Transfer/Direct Rollover Request – used to transfer funds from another qualified IRA or a direct rollover from a qualified 401(k) or similar retirement plan.
- Roth Transfer Request – Complete this form if doing a direct transfer of a ROTH IRA.
- Coverdell ESA Transfer Request – Complete this form if doing a direct transfer of a Coverdell Education Savings Account.
- Goldstar IRA Application Guide
Note that very specific regulations apply when contributing to an IRA, with eligibility and deposit amounts limited by a person’s age, employment situation, and several other conditions. The following links on the IRS.gov website offer key information on IRAs.
IRS IRA contribution limits
IRS IRA deduction limits
Consult Your Tax Advisor
Neither Texas District CEF nor its representatives give legal, accounting, or tax advice. We always suggest that you consult with your tax advisor as to the applicability of this information to your own situation.