Frequently Asked Questions

 

 

See the questions below to get information you need.

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.

What Funds do you offer?
What are the minimum initial and subsequent investments for regular and IRA accounts?
What are your IRA fees?
Can I exchange between Funds? If so, are there any fees?
Do any of your Funds offer a check writing privilege?
Do you offer a systematic withdrawal plan?
What is needed to receive a distribution from my IRA account?
Where can I get my signature guaranteed?
What types of automatic investment programs do you offer?
How do I get a password to access my account online?
What mailing address do I send any correspondence to?
What is your overnight express mail address?
How do I send a bank wire to make an investment in the Midas Funds?
What do I need to do to change the address on my account?
How do I change my bank address on my account?
How can I redeem shares in my account and have the proceeds
mailed to an address different than my current address of record?

On what holidays are the Funds closed?
What do I need to change my account registration?
What is your business continuity plan?


What Funds do you offer?


We offer Midas Fund, Midas Perpetual Portfolio, and Midas Magic:


Fund
Ticker Symbol
 
Cusip
Midas Fund
MIDSX
 
59562C109
Midas Perpetual Portfolio
MPERX
 
59563J103
Midas Magic
MISEX
 
59563P109

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What are the minimum initial and subsequent investments for regular and IRA accounts?

$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 Automatic Investment Program, the minimum initial investment is $100.

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What are your IRA fees?

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.

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Can I exchange between Funds? If so, are there any fees?

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.

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Do any of your Funds offer a check writing privilege?

No.

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Do you offer a systematic withdrawal plan?

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.

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What is needed to receive a distribution from my IRA 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.

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Where can I get my signature guaranteed?

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 "New Technology" Medallion Signature Guarantee Stamp. The stamp (pictured) has a bar code and is stamped in light green ink by most banks or brokers.

sig guar

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

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What types of automatic investment programs do you offer?

We offer the Midas Automatic Investment 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.
Plan   Description

Midas Bank Transfer Plan

 

For making automatic investments from a designated bank account.

Midas Salary Investing Plan

 

For making automatic investments from your salary through your payroll deductions.

Midas Government
Direct Deposit Plan

 

For making automatic investments from your Federal employment, Social Security or other regular Federal government check.

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How do I get a password to access my account online?

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.

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What mailing address do I send any correspondence to?

Midas Funds
P.O. Box 6110
Indianapolis, IN 46206-6110

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What is your overnight express mail address?

Midas Funds
2960 North Meridian Street, Suite 300
Indianapolis, IN 46208

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How do I send a bank wire to make an investment in the Midas Funds?

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

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What do I need to do to change the address on my account?

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).

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How do I change my bank address on my account?

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

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How can I redeem shares in my account and have the proceeds mailed to an address different than my current address of record?

Send us a letter of instruction with your signature guaranteed (see above).

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On what holidays are the Funds closed?

  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.

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What do I need to change my account registration:

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

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We have an in-depth plan in order to provide business continuity.
Click here to review a summary of the plan.

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