How long has the company been in business?
Founded in 2010, IRA Financial has been in business for more than 10 years and now has over 28,000 clients in all 50 states who have invested over $4.6 billion in alternative assets. It was founded by Adam Bergman, a tax attorney, author of 8 books on self-directed retirement plans, and one of the most recognized voices in the self-directed retirement industry. IRA Financial has over 67 employees located in 5 states and is the fastest growing provider of self-directed retirement accounts in the country.
Is the company regulated? How can I verify that you are in good standing and not a scam?
IRA Financial Trust is a South Dakota state chartered custodian under 408 (a) (2) and a bank custodian defined under 408 (n) referenced therein. IRA Financial Trust is regulated and licensed by the South Dakota Division of Banking. As a non-fiduciary trust company, we must meet the capitalization, compliance, anti-money laundering, consumer protection, and cybersecurity requirements as set forth by the South Dakota Division of Banking and protect the interests of our customers first and foremost. Please find the list of state chartered Trust companies here.
What type of retirement accounts can I use to set up an account?
Any United States retirement account, including IRA, Roth IRA, SEP IRA, SIMPLE IRA, Solo 401(k), 401(k), Keogh, profit sharing plan, rollover 403(b), 457(b), or defined benefit/cash balance plan.
24-72 hours. Everything can be done on our app.
When can I start investing with my account?
1. The application will go into a queue to be reviewed. A new account specialist will call you within 3-5 business days if items are missing, filled out incorrectly, or need further follow up.
2. Once the application is complete and correct, an account number will be assigned within 3-5 additional business days. The account number will be emailed to you by firstname.lastname@example.org.
3. The transfer form will be submitted to the Transfer Department, or instructions to complete a Rollover or contribution will be emailed to you with your account number.
4. Once we receive the funds, they will be ready for investment. An investment authorization form is to be completed and required investment documentation must be provided/uploaded so that IRA Financial can fund the investment. Within 24-72 hours, the funds will be sent for investment or the IRA LLC.
Do you charge transaction fees for making investments?
No and we are the only Self-Directed IRA custodian that doesn’t.
Who handles annual IRS reporting on my account?
We do. We handle all IRS reporting with respect to the IRA, including filing IRS forms 1099-R and 5498.
How is the Self-Directed IRA investment titled?
IRA Financial Trust Company CFBO John Doe IRA. Don’t worry, our compliance department will assist you with all investment related matters. In addition, you have the ability to use an LLC that will be wholly owned by the IRA, which will provide you limited liability protection and more privacy.
Do I need an independent appraisal for my Self-Directed IRA?
Only if you are planning to take an in-kind distribution or are over the age of 72 and are required to take required minimum distributions (“RMDs”). An independent third-party should sign the valuation form.
How do I make contributions to my self-directed account?
Simply complete a Deposit Form on our app and then send in the funds by wire or check. Remember to include your account number on the check or wire.
Can I do a partial rollover or transfer of my retirement funds?
Yes. You are free to transfer any amount of IRA funds to IRA Financial or rollover nay amount of funds from an employer pension plan.
How do I do a rollover to my account from an IRA?
If you wish to transfer or rollover funds from another IRA to IRA Financial, simply complete a Transfer Authorization Form on our app and we will take care of the rest. Make sure the funds you wish to rollover are in cash.
How do I do a rollover to my account from a 401(k) or non-IRA account?
You will have to initiate the rollover with your former employer. You will likely be required to complete a Direct Rollover Request Form. Just remember to indicate you will be rolling over the funds directly to an IRA and include your IRA Financial account number. A rollover between retirement custodians is tax free and can be done at any time.
Who holds my money?
Your funds sent to IRA Financial are held at Capital One bank. The funds are FDIC protected up to $250,000. However, once the funds are invested and sent from IRA Financial to facilitate your investment, IRA Financial is no longer in charge of those funds and you are 100% responsible for the investment.
Do I get to make all investment decisions with my account?
Yes – 100%.
Do you charge an asset management fee?
No. We believe all our clients, irrespective of account size, should get the same amazing services. Additionally, we want all our clients to become seven-figures retirement investors so we don’t believe in charging more fees because they are successful.
We handle all IRS reporting for your Self-Directed IRA. However, you are required to report any IRA contributions made or distributions taken on your Federal Income Tax Return (1040). In addition, if you have used a nonrecourse loan or have invested your Self-Directed IRA into a business operated through an LLC or other passthrough entity, then you may be required to file IRS Form 990-T for Unrelated Business Taxable Income.
You will need to upload the front and back of 2 IDs ( e.g., driver’s license, passport, credit card, or insurance card). You will also need a current statement uploaded if you are transferring or doing a rollover from another custodian.
Please click on “Forgot Password “ to reset it.
You will receive detailed information by email with the next steps and timing for establishing your account.
Yes. Each process has an option for premium expedite (1 business day) for $200 or standard expedite (2 business days) for $75.
From the home page, click on “Create an Account” and you will be presented with account options. You will be able to choose from Self-Directed IRA LLC, Self-Directed IRA, and Solo 401(k).
It only takes 5-10 minutes to fill out an application.
No. You can save at each step and return later. To continue, click on “Forms in Progress”.
After you complete the application, you will be informed when the IRA account has been established. That communication will contain all the information you need to execute your rollover.
As part of the Self-Directed IRA application process, we will ask about where your funds are, account details, how much you want to transfer, etc. We will present you with a Transfer Authorization Form to sign at the end of the application session.