IRA transfers are the transfer of funds from one individual retirement account (IRA) to another such as a brokerage or bank account.
Funding your Self Directed IRA
What you need to know about funding your self-directed IRA with an IRA transfers
- An IRA transfer is the most common way to fund a Self Directed IRA. When you are ready to transfer funds, remember, you will not come in contact with the funds to avoid penalties and taxation. A trustee to trustee transfer is not a taxable event. The sooner we receive the required paperwork, the sooner we can initiate the transfer. Once the transfer is initiated, please allow two to three weeks for the funds to arrive to your new Self Directed IRA.
The Benefits of Transferring Funds From an IRA
- Unlimited number of transfers
- Unlimited amount of funds
- A trustee to trustee transfer is NOT a taxable event
- You can transfer cash or an asset such a house
The IRA Club Difference
- IRA Club will initiate the transfer for you
- We understand that “time is money” so we will follow up with the financial institution where your funds are currently held
- You will be informed once we have received the funds