Contact Us

BY EMAIL:

info@performancedriven.us

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.

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

What Funds do you offer?

We offer Midas Fund and Midas Magic:

Midas Fund - MIDSX - 59562C109

Midas Magic - MISEX - 59563P109

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 Systematic Purchase/Withdrawal Program, the minimum initial investment is $100.

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.

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.

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.

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.

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

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

What types of systematic investment programs do you offer?

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.

Systematic Purchase/Withdrawal Form - For making automatic investments from a designated bank account.

Systematic Salary Investing Plan - For making automatic investments from your salary through your payroll deductions.

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

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. You can also call Shareholder Services at 1-800-400-MIDAS (6432), from 8 a.m.-6 p.m. ET, to get more information about access to your online Midas Touch account.

What mailing address do I send any correspondence to?

Midas Funds
Box 46707
Cincinnati, OH 45246-0707

What is your overnight express mail address?

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

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), from 8 a.m.-6 p.m. ET, to be assigned an account number and for wiring instructions.

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). You can also call Shareholder Services at 1-800-400-MIDAS (6432), from 8 a.m.-6 p.m. ET, for more information.

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. You can also connect your bank account in The Midas Touch to make additional purchases and redemptions safely and electronically to and from your Midas Funds account. Simply click Account Access on MidasFunds.com and log in to the online account access portal. Then, click Bank Information on the left navigation menu and follow the instructions to Add New Bank.

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).

On what holidays are the Funds closed?

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

Can I sign up for a Midas Funds account online and invest electronically?

Yes! We offer both paper applications and online applications for some account types. Go to Invest Now to find the account type you’re interested in opening and select between the available options listed to set up your Midas Funds account today.

How can I avoid the account fee for mailing documents?

There is no charge for shareholders to receive account statements, confirmations, and tax forms electronically (i.e., by e-delivery). You can make your e-delivery election by visiting www.MidasFunds.com and logging in to your The Midas Touch® account. With The Midas Touch, you receive 24/7 access to view your account statements, confirmations, and tax forms. If you elect to receive these materials in paper by mail, your account may be charged an annual $20 account service fee to cover printing, mailing, postage, handling, and related charges (unless such fee is waived by the Funds or the Investment Manager for any or all shareholders in their discretion for any reason). The account service fee may be applied to both retirement and nonretirement Fund accounts and may be assessed on Fund accounts regardless of the account minimum. The fee, which will be collected by redeeming Fund shares in the amount of $20, will be deducted from Fund accounts subject to the fee once per calendar year.

Don’t have an online The Midas Touch account? Sign up, with these easy steps:

Check out our video tutorials on all things Midas Touch at www.MidasFunds.com/invest-now/open-account. We hope that you will enjoy the Midas Touch enhanced online experience!

Letter to Shareholders regarding account service fee without e-delivery

How do I sign up for e-delivery?

Follow these three simple steps:

How can I connect my bank account in The Midas Touch?

You can connect your bank account in The Midas Touch to make additional purchases and redemptions safely and electronically to and from your Midas Funds account. Simply click Account Access on MidasFunds.com and log in to the online account access portal. Then, click Bank Information on the left navigation menu and follow the instructions to Add New Bank.

Frequently Asked Questions about IRAs

How do I open a retirement account at Midas Funds?

You can open your retirement account by opening an account online. Simply click on Account Access on MidasFunds.com and follow the instructions under “New to Midas? Open a Midas account.” Even if you already have a Midas Funds and 

Midas Touch account, this link will guide you to open a new account.

You can also mail a completed paper application to us 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).

How do I fund my new retirement account?

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 MidasFunds.com and select Account Access at the top right.

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.

How do I make investments in this type of account?

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

What fees are charged for a retirement account?

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

Can I take a loan from my IRA? What are the rules?

No, you can not borrow from your IRA.

However, if you are 59½ 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.

What should I do if I contributed too much money into my IRA? Will I be penalized?

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.

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

If I took a loan from my retirement plan then rolled it over to an IRA, can I make the loan repayments to my IRA?

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.

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.

Can I deduct IRA losses from my taxes?

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

How are Traditional IRAs and Roth IRAs the same?

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 59½, 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.

How are Traditional IRAs and Roth IRAs different?

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.

Can I contribute to a traditional IRA if I have other retirement plans?

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.


How can I convert my traditional IRA to a Roth IRA?

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.

Can my retirement accounts be combined?

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.

Can the 10% additional tax for an early withdrawal from an IRA be deducted from the AGI as a penalty on early withdrawal of savings?

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

What is the Required Minimum Distribution (RMD)?

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.

Can I withdraw more than the Required Minimum Distribution?

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.

Am I required to take my Required Minimum Distribution from all of my accounts?

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

Which IRA accounts impose the Required Minimum Distribution rule?

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

Under what circumstances does the IRS require automatic income tax withholding?

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.

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.

Escheatment/Inactive Accounts.  In accordance with applicable state escheatment law, if shareholder contact does not occur on any account maintained by our transfer agent within the time frame specified by that applicable law, or if our mailings to a shareholder are returned as undeliverable during that time frame, the assets in that account (shares and/or any uncashed checks) may be transferred to that state as unclaimed property. NOTE: If you fail to have such contact and maintain a deliverable address with our transfer agent, your property may be escheated to your last known state of residency after which you will need to claim the property from that state.