SmartStop Self Storage, Inc. and Extra Space Storage Inc. are merging

You may have recently received communication from SmartStop of a planned liquidity event. This information, while helpful, may prompt further questions for you about your IRA holding. The cash proceeds from the liquidation of SmartStop will be added to your Morrill & Janes Bank and Trust NOW account. After the funds have been added to the Morrill & Janes Bank and Trust NOW account, you have several options available to you.


As always, we encourage you to seek the guidance of your professional financial representative and/or tax advisor when making these important investment decisions.


Please return to our Listings page for answers to additional questions you may have.




Press Release

June 15, 2015

SmartStop Self Storage, Inc., a Maryland corporation (“SmartStop”), SmartStop Self Storage Operating Partnership, L.P., a Delaware limited partnership (“SmartStop OP”), Extra Space Storage Inc., a Maryland corporation (“Extra Space”), Extra Space Storage LP, a Delaware limited partnership (“Extra Space OP”), Edgewater REIT Acquisition (MD) LLC, a Maryland limited liability company and a direct or indirect wholly-owned subsidiary of Extra Space OP (“Merger Sub I”) and Edgewater Partnership Acquisition (DE) LLC, a Delaware limited liability company and a direct or indirect wholly-owned subsidiary of Extra Space OP (“Merger Sub II”) entered into a definitive Agreement and Plan of Merger (the “Merger Agreement”).

Following SmartStop’s listing on a traded exchange, your available options are outlined below:


Do nothing.

You can keep your position and remain with First Trust Retirement. Enjoy the same benefits that you’ve always had.


Remain with First Trust Retirement, but select another alternative investment.

Please select from alternative investment sponsors listed below, complete the required paperwork, and enjoy the same great service at the same low cost.


Distribute the Cash Proceeds from your First Trust Retirement IRA

Distribute the proceeds from your IRA to your address, bank, or to a third party. You must submit a FTR Withdrawal/RMD Request form in order for us to properly distribute the funds. This will be a taxable event.


Transfer cash proceeds to another custodian or brokerage account.

To send sale proceeds to a different account other than the First Trust Retirement IRA, submit completed transfer paperwork from the new financial institution by mail. Please consult your financial representative. There may be fees associated with this option..


Alternative Investment Products Available

Stay with First Trust Retirement and move your IRA to another alternative investment. Complete the IRA Transfer/Rollover form, FTR IRA Application*, and the new Sponsor's subscription documentation. Sign all forms and mail to the appropriate address listed on the form.

*IRA Application only required if IRA account does not exist within Product Sponsor.