What to Expect
Checkbook-Controlled Self-Directed IRA
Submit your application on our app
- 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.
- 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.
- 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.
Fund your IRA
If you selected Rollover on your application, please contact your previous custodian to ask them to rollover or send funds to IRA Financial. Please complete a Deposit Form on our app and provide a current statement from the other custodian to accompany the incoming wire or check. The funds will be on hold until we receive them.
If you selected Contribution on your application, please send a deposit form when you wire funds or send a check to your IRA as a current year or previous year contribution.
Set up your LLC
- If you selected transfer, our Entities Department will start after an account number is assigned.
- If you selected rollover or contribution, our Entities Department will start when the account is funded or when it’s confirmed that funds are on the way.
- If you add a credit card to the account to either charge the structure fee or just to guarantee payment, our Entities Department will start after account number is assigned.
Open and fund your LLC bank account
Regular Checking Account
- Opened at Capital One
- Can be opened in 3-7 days
- No fees
- LLC protection
- $1,000 minimum balance requirement
- No debit card
- We handle all wires/banking transactions
Local Bank Account
Opened at any bank of your choice.
Invest your IRA funds
- After you are notified that your new Self-Directed IRA account has been funded, please complete the Investment Authorization form on our app to enter your LLC bank account information and funding instructions so IRA Financial can fund your investment.
- In order to send the funds to your LLC, our Investment Department will need the Investment Authorization, Prohibited Transaction Questionnaire, Checkbook IRA LLC Agreement, and Wire Request (if wiring to local bank) forms.
- Compliance will review the investment information within 3-5 business days of receiving it. IRA Financial will then either send the paperwork to our Capital One specialist to open your account or wait for confirmation that a local bank account has been opened.
- An IRA Financial team member will call for verbal verification before we send the funds. The number will come from a 605 area code.
- The IRA investment is funded.