Transfer from an Existing IRA Account
An IRA transfer is the most common way to fund a self-directed IRA. It’s important to provide us with the correct IRA type so that we can accurately work with your current IRA provider. If you have a Traditional IRA, your cash will be transferred to an IRA Club Traditional IRA. If you have a Roth IRA, your cash will be transferred to an IRA Club Roth IRA.
What is the IRA transfer process?
- To start an IRA transfer, complete the form linked here. Fill in all the information, including the IRA type, the firm name, the account number, and the amount to transfer. IRA Club will handle the rest. If your account is invested in stocks, bonds, or mutual funds, it is important to liquidate some or all your holdings to ensure the cash is available to transfer. When the money is liquid and available, let your IRA Club representative know we can proceed with your transfer request. Please keep in mind that many factors can disrupt and slow down the timing of these procedures. Some of which may include:
• Funding Method (Check or Wire)
• Current Holdings (Cash or Assets)
• Current Firm Policies
How do I know what type of IRA I have?
- In general, your IRA account type is listed on your account statement or on the account summary screen when you log on to your current provider. IRA Club can review your account statement to help you determine the IRA type if you would like.
Can I transfer assets to IRA Club?
- Common assets our clients transfer in-kind are real estate, private entity shares, and precious metals. Transferring alternative assets to IRA Club does not trigger a taxable event if the asset is transferred to a like account type. In addition, an asset transfer is not reported to the IRS.
If you are not sure that IRA Club can accept the asset in-kind, please call us at 312-795-0988 or email firstname.lastname@example.org.
Can I deposit funds to my IRA Club account while the transfer is in the process?
- Yes! You can make an annual contribution. Limits are set by the IRS and differ depending on your age and the type of retirement account you have. To view the current contribution limits, click here.