Contact Us

By Email:

info@midasfunds.com

By Phone:

1-800-400-MIDAS (6432)

By Fax:

1-877-513-0756

By Mail:

Midas Funds
P.O. Box 46707
Cincinnati, OH 45246-0707

Online:

The Midas Touch

The Midas Touch gives you free, 24-hour access to your Midas investments by telephone and the internet. With The Midas Touch you can monitor your investments, check your account balances and account activity, retrieve your account history, exchange between Funds, review recent transactions, and purchase or redeem Fund shares using Electronic Funds Transfer (EFT) to move money from or to your authorized bank account.

  • Obtain, without obligation, Fund prospectuses and Account Applications for regular, IRA and other tax-advantaged retirement accounts, as well as Systematic Purchase/Withdrawal Forms for regular monthly investing and IRA Transfer Forms.
  • Obtain closing market information and Fund closing prices.
  • Initiate account transactions, such as automated EFT purchases and exchanges between Funds.
  • Speak with Shareholder Service Representatives, available from 8 a.m. to 6 p.m. ET.

You can also e-mail us by clicking here for any questions regarding your account or if you would like more information on the Funds.

Frequently Asked Questions

See the questions below to get information you need.

We offer Midas Fund and Midas Magic:

FundTicker SymbolCusip
Midas FundMIDSX59562C109
Midas MagicMISEX59563P109

$1,000 is the minimum required to open a Regular, IRA, and Education Savings account. Minimum subsequent investments are $100.
When an account is opened under the Midas Systematic Purchase/Withdrawal Program, the minimum initial investment is $100.

There is no fee to open an IRA and no annual fiduciary or maintenance fee.
$10 fee if you are redeeming when you are under the age of 59-½.
$20 termination fee.

There is no charge to make an exchange. For shares that are redeemed within 30 days of purchase there is a 1% redemption fee retained by the Fund.

Yes. If you own Fund shares with a value of at least $20,000 you may elect an automatic monthly or quarterly withdrawal from your account, with the amount mailed to you or to your bank account.

A distribution form can be obtained here or by calling 1-800-400-MIDAS (6432) or you can write a letter of instruction. A signature guarantee is needed if the distribution is not going to the address of record.

To obtain a signature guarantee, you must sign in the presence of an authorized officer of an eligible guarantor institution. Eligible guarantors include Domestic (U.S.) Banks, Domestic (U.S.) Savings Associations, Domestic (U.S.) Brokers, Dealers, Municipal Securities Brokers, Government Securities Dealers and Securities Brokers, Domestic (U.S.) Credit Unions, or members of Domestic (U.S.) National Securities Exchanges, Registered Securities Associations and Clearing Agencies.

Each shareholder’s signature must have a Medallion Signature Guarantee Stamp. The stamp (pictured) has a bar code and is stamped in light green ink by most banks or brokers.

signature guaranteed

If you have questions, please contact a Shareholder Service Representative at 1-800-400-MIDAS (6432).

We offer the Midas Systematic Purchase/Withdrawal Program. With this program, you can establish a convenient and affordable long term program of investing as little as $100 per month through one or more of the Plans explained below. Questions? Just call 1-800-400-MIDAS (6432) today.

PlanDescription
Systematic Purchase/Withdrawal FormFor making automatic investments from a designated bank account.
Systematic Salary Investing PlanFor making automatic investments from your salary through your payroll deductions.
Government 
Direct Deposit Form
For making automatic investments from your Federal employment, Social Security or other regular Federal government check.

The password to access your account online will be mailed to you at your registered address. After accessing your account online through the Midas Touch, you can change your password.

Midas Funds
Box 46707
Cincinnati, OH 45246-0707

Midas Funds
225 Pictoria Drive, Suite 450
Cincinnati, OH 45246

Call Midas toll-free at 1-800-400-MIDAS (6432), 8 a.m.-6 p.m. ET, to be assigned an account number and for wiring instructions.

Send us a letter of instruction including your name and account number. We will restrict the mailing of redemption proceeds to your address of record within 30 days of such address change unless you provide a letter of instruction with your signature guaranteed (see above).

Send us a letter of instruction with your signature guaranteed (see above) and a copy of a voided check reflecting your new bank account.

  • New Year’s Day
  • Birthday of Martin Luther King, Jr.
  • President’s Day
  • Good Friday
  • Memorial Day
  • Independence Day
  • Labor Day
  • Thanksgiving Day
  • Christmas Day

Please Note: On Columbus Day and Veteran’s Day the stock market remains open while banks are closed.

Upon the Death of the Shareholder:

  • Letter of instruction with signature guaranteed by the executor of the estate
  • Certified copy of letters of testamentary or letters of appointment dated with 60 days
  • Certified copy of death certificate
  • New application to re-register or W-9 form to liquidate with payee’s SS# or TIN

Upon the Death of a Joint Tenant:

  • Letter of instruction with signature guaranteed signed by surviving shareholder
  • Certified copy of death certificate
  • New application to re-register or W-9 form to liquidate with payee’s SS# or TIN

From a Single Account to a Joint Account:

  • Letter of instruction with signature guaranteed
  • New application with both owners’ signatures

From a Joint Account to a Single Account:

  • Letter of instruction signed by all owners with signatures guaranteed
  • New application

From a Single or a Joint Account to Trust Account:

  • Letter of instruction signed by all owners with signatures guaranteed
  • Copy of first and last page of the trust document
  • New application
  • W-9 form to certify trust EIN#

For a Name Change on a Joint Account:

  • Letter of instruction signed by all owners with signatures guaranteed; signatures should contain old and new name
  • New application

On a UGMA/UTMA (former minor requesting change):

  • Letter of instruction by the former minor with signature guaranteed
  • Certified copy of the former minor’s birth certificate
  • New application signed by former minor or W-9 form to liquidate

On a UGMA/UTMA (custodian requesting change for former minor):

  • Letter of instruction by the custodian with signature guarantee
  • New application signed by former minor

For a Transfer or Liquidation Pursuant to a Divorce Decree:

  • Letter of instruction signed by current account holder with signature guaranteed
  • Certified copy of divorce decree (obtained from court where divorce decree was filed)
  • New account application or W-9 form to liquidate

For a Rollover or Liquidation by the Surviving Spouse Beneficiary due to death of IRA holder:

  • Letter of instruction signed by the named beneficiary on the account with signature guaranteed
  • Certified copy of death certificate
  • New IRA application or W-9 form to liquidate certifying SS# of the recipient

For a Rollover or Liquidation by the Non-Spouse Beneficiary due to death of IRA holder:

  • Letter of instruction signed by non-spouse beneficiary with signature guaranteed
  • Certified copy of death certificate
  • New application if rolling over into a new account or W-9 form to liquidate

Frequently Asked Questions about IRAs

These frequently asked questions and answers are provided for general information only and should not be cited as any type of legal authority. They are designed to provide the user with information required to respond to general inquiries. Due to the uniqueness and complexities of Federal tax law, it is imperative to ensure a full understanding of the specific question presented, and to perform the requisite research to ensure a correct response is provided.

All self-employed and small business IRAs (SEP IRAs and SIMPLE IRAs) are subject to the same investment rules as traditional IRAs. For more information on these types of plans, see Traditional and SEP IRAs and SIMPLE IRAs for Small Businesses.

For more specific questions, e-mail us at info@MidasFunds.com or contact Midas Funds Shareholder Services at 1-800-400-MIDAS (6432), 8 a.m.-6 p.m. ET.

You can open your retirement account by mailing the completed application with your check, or by wire. You can also set up Automatic Investment options with some accounts.
By mail: Simply complete an application, enclose it with your check drawn to the order of Midas Funds, and mail to

Midas Funds
Box 46707,
Cincinnati, OH 45246-0707.

By wire: Call Midas toll-free at 1-800-400-MIDAS (6432), 8 a.m.-6 p.m. ET, to be assigned an account number and for wiring instructions.

You should carefully consider the investment objectives, risks, charges and expenses of mutual funds before investing or sending money. For a free prospectus, which contains this and other important information about the Midas Funds, please contact us or download here. Read the prospectus carefully before you invest (or send money).

You can make $100 minimum contributions to your IRA by telephone, web, wire, mail or automatic investment.

Via telephone: Just dial toll-free 1-800-400-MIDAS (6432) and follow the prompts to speak with a Shareholder Services Representative between 8 a.m. and 6 p.m., ET.

Via internet: Visit www.MidasFunds.com and select “The Midas Touch Account Access.”

By mail: Simply detach the FastDeposit form from your statement and enclose it with your check drawn to the order of Midas Funds.

By wire: Call Midas toll-free at 1-800-400-MIDAS (6432), 8 a.m.-6 p.m. ET, to be assigned an account number and for wiring instructions.

IMPORTANT: Make sure you write your account number and the contribution year on the check. If you are funding your Rollover IRA, write ‘Rollover’ on the check or complete the Rollover IRA Designation Form to accompany your check or stock for deposit into your Rollover IRA.

Once your retirement account is open and funded, you can make your investments at any time via telephone or online through The Midas Touch.

No account service fees are charged for Midas Funds’ retirement accounts. Please refer to the Prospectus for more details.

No, you can not borrow from your IRA.

However, if you are 59-½ or younger, you can take a premature distribution from your IRA once each 12-month period without penalty if you replace it within 60 days. This is not applicable for Roth IRAs.

If you do not replace it within the designated time, you will be charged a 10% early withdrawal penalty. If you do take a premature distribution, you should refer to the instructions from IRS Form 5329 for guidance in filing your taxes.

You have the option to remove excess funds contributed without penalty in the in a particular year if you remove them before the tax deadline for that year.

For example, Joe made a $7,000 contribution to an IRA on 2/15/17 for the 2019 tax year. The deadline to remove the excess cash without incurring the 6% penalty would be Joe’s tax filing deadline, including extensions, for tax year 2019.

It is recommended that you check with your tax advisor to determine the best solution for your individual situation.

Can the outstanding loan balance from a retirement plan be rolled over into an IRA and the loan payments made to the IRA instead of the other plan?

IRAs (including SEP-IRAs) do not permit loans. Therefore, repaying a loan balance from one plan by transferring the loan balance and making loan payments to an IRA is not allowed. If this transaction was attempted, the loan would be treated as a distribution at the time of the attempted rollover.

No – Neither IRA losses nor IRA gains are taken into account on a participant’s tax return while the IRA is on-going.

Each IRA type allows owners to make contributions of up to the applicable dollar limit of earned income each tax year. Assets are not subject to income taxes while in IRA.

If the account owner is under 59-½, assets can be withdrawn from either IRA exempt from early withdrawal penalties (but not taxes) if used to pay qualifying college expenses or certain home purchases.

There are two primary differences between Traditional IRAs and Roth IRAs.

Contributions to Roth IRAs are never tax-deductible but contributions to Traditional IRAs may be deductible or non—deductible.

Roth IRAs offer tax-sheltered growth. This means that investments grow free of federal income taxes. An investor pays no federal income tax at all on qualifying withdrawals.

Traditional IRAs offer tax-deferred growth. This means that investments can grow free of federal income taxes until withdrawals are taken.

Yes, individuals can contribute to a traditional IRA whether or not they are covered by another retirement plan. However, they may not be able to deduct all of their contributions if they or their spouses are covered by an employer-sponsored retirement plan. [Note that contributions to a Roth IRA are not deductible and income limits apply.

A traditional IRA can be converted to a Roth IRA by:

Rollover – A distribution from a traditional IRA can be contributed to a Roth IRA within 60 days after distribution.

Trustee-to-trustee transfer – The financial institution holding the traditional IRA assets will provide directions on how to transfer those assets to a Roth IRA with another financial institution.

Same trustee transfer – As with the trustee-to-trustee transfer, the financial institution holding the traditional IRA assets will provide directions on how to transfer those assets to a Roth IRA. In this case, things should be simpler because the transfer occurs within the same financial institution.

A conversion results in taxation of any untaxed amounts in the traditional IRA. Also, the conversion is reported on IRS Form 8606, Nondeductible IRAs.

If you have more than one retirement account, you can combine them into one account or move a partial amount into another account. You may want to keep deductible and non-deductible contributions in separate accounts.

Exception: A SIMPLE IRA can not be combined into ANY other type of account until after two years from the date of your initial contribution.

No, the additional 10% tax on early distributions from qualified retirement plans does not qualify as a penalty for withdrawal of savings.

By federal law, Traditional, SEP, SIMPLE and Rollover IRA account holders and participants in some qualified retirement plans must begin taking distributions no later than April 1st in the year in which they reach age 70-½. Roth IRAs are not subject to RMD. It is the minimum amount that you must withdraw each year.

Your RMD can be calculated based on your single life expectancy or the combined expectancy of you and your designated beneficiary.

Yes, you can withdraw more than the RMD. It is advised that you consult with a financial advisor to determine how much you should withdraw each year.

You are required to take your RMD annually. The total amount can be taken from either one IRA account or from multiple accounts.

Traditional, SEP and SIMPLE IRAs include this ruling. Roth IRA does not.

If you, your surviving spouse or alternate payee (as defined by the Qualified Domestic Relations Order) decide to take a cash distribution from an IRA instead of rolling over of the funds to a new account, 20% of the distribution will automatically be withheld for federal income tax.

This mandatory 20% withholding does not apply to rollovers, Required Minimum Distributions, excess contributions or death. Additional state taxes may also apply.

Caution: If distributions are not done in accordance with IRS regulations, you may be subject to additional tax penalties.

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