Equity Trust Company Incorrect 1099-R forms - gross incompetence Westlake Ohio
I was talked into setting up a self directed IRA with Equity Trust managing the account.
Once I realized their unreasonable management fees I decided to close the account.
it took a couple o fphone calls an dpaperwork to get it done.
I just received 2 1099 forms for the same account.
One is for the correct amount of the distribution that was rolled over.
The second 1099-R is for the initial principal from when I opened the account years ago.
I am in the process of a 48 minute call trying to arrange for them to correct their mistake.
When asked to confirm the check number and date for the second 1099-R form they state there is none.
so far I have been passed between 2 service representatives and after 30 minutes a supervisor.
They know it is their screwup but "have to review it with the appropriate parties".
Inept and scary the level of incompetence.
I did offer to have them send me the missing money. I would then place it in another iRA. They declined my offer.