Fair market value (FMV) letters for self-directed IRAs

If you hold a Wefunder investment inside a self-directed IRA (SDIRA), your IRA custodian is required to report the fair market value (FMV) of every asset in your account each year. An FMV letter is a short document stating the current estimated value of your Wefunder investment so your custodian can meet that requirement. ## Why your custodian needs it Custodians must report an annual value for each asset they hold (for example, on IRS Form 5498). Without an up-to-date value they may charge maintenance or late fees, list the asset as "value not readily available," or ask you to supply one. Providing an FMV keeps your IRA in good standing. ## What value Wefunder provides Early-stage private investments don't trade on a public market, so any value is an estimate. We can generally provide the price per share or unit from the company's most recent priced round, or a good-faith estimate based on the best available information. This is an estimate for custodial reporting only — not a guarantee of value, a sale price, or tax advice. ## How to request one Email updates@wefunder.com with the investment and your custodian's requirements. Some custodians have their own valuation form — attach it and we'll fill in the value and return it for you to forward. ## How the investment is held SDIRA investments are held in your custodian's name for your benefit (FBO you), so the custodian — not you personally — is the holder of record. That's normal for IRA-held investments. ## Questions? For anything specific to your account or a custodian form, email updates@wefunder.com.