In today’s video, Adam Bergman, Esq. and Isaac Rodriguez, a client of IRA Financial, go over the basics you need to know for SDIRA rollovers.
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IRA Financial Group was founded by Adam Bergman, a former tax and ERISA attorney who worked at some of the largest law firms. During his years of practice, he noticed that many of his clients were not even aware that they can use an IRA or 401(k) plan to make alternative asset investments, such as real estate. He created IRA Financial to help educate retirement account holders about the benefits of self-directed retirement plan solutions.

IRA Financial is a retirement account facilitator, document filing, and do-it yourself document service, not a law firm. IRA Financial Group does not provide legal services. No attorney-client relationship exists between Client and IRA Financial, its management, salespersons or IRA Financial’s in-house legal counsel. IRA Financial Group provides IRA retirement facilitation service and CANNOT provide Client with legal, investment, or financial advice. Prior to making any investment decisions, please consult with the appropriate legal, tax, and investment professionals for advice.

IRA Financial is not engaged in rendering legal, accounting or other professional services. If legal advice or other professional assistance is required, the services of a competent professional person should be sought. (From a Declaration of Principles jointly adopted by a Committee of the American Bar Association & a Committee of Publishers and Associations.). The scope of Professional Services does not include the costs of any custodian related services.

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Self Directed IRA Rollover Basics

When it comes to retirement savings, traditional IRAs are a popular choice among investors. However, many individuals are not aware that they have the option to convert their traditional IRAs into self-directed IRAs through a process called a rollover. In this article, we will explore the basics of a self-directed IRA rollover, its benefits, and how it works.

What is a self-directed IRA rollover?
A self-directed IRA rollover is a method that allows an individual to transfer their retirement savings from a traditional IRA account to a self-directed IRA account without incurring any tax consequences. In doing so, investors gain greater control over their investment choices and can direct their funds into a wider range of investment options, such as real estate, private equity, tax liens, and precious metals, among others.

Benefits of a self-directed IRA rollover
One of the primary benefits of a self-directed IRA rollover is the flexibility and increased investment options it offers. Traditional IRAs typically limit investment choices to stocks, bonds, mutual funds, and CDs. With a self-directed IRA, individuals have the freedom to invest in alternative assets that they have expertise in or are interested in exploring. This can potentially lead to higher returns and diversification of one’s retirement portfolio.

Additionally, a self-directed IRA rollover allows individuals to take advantage of the tax-deferred or tax-free growth potential of their investments. As with any other IRA, earnings on investments made within a self-directed IRA are generally tax-deferred or tax-free until the funds are withdrawn in retirement.

How does a self-directed IRA rollover work?
The process of a self-directed IRA rollover is relatively straightforward. Here are the basic steps involved:

1. Open a self-directed IRA account: To initiate the rollover, individuals must first establish a self-directed IRA account with a qualified custodian or trustee. It is crucial to carefully research and select a reliable and reputable custodian that specializes in self-directed IRAs.

2. Request a rollover: Once the self-directed IRA account is open, individuals can request a rollover of funds from their existing traditional IRA account. This can typically be done by completing the necessary paperwork provided by the custodian.

3. Transfer of funds: After the rollover request is made, the custodian will work with the individual’s traditional IRA provider to facilitate the transfer of funds to the newly established self-directed IRA account. This transfer is usually done directly from one custodian to another to ensure a seamless transition.

4. Start investing: Once the funds are successfully transferred, individuals can begin investing in the alternative assets of their choice within the self-directed IRA account. It is essential to follow the rules and regulations set by the Internal Revenue Service (IRS) for self-directed IRAs to avoid any penalties or tax consequences.

Summary
A self-directed IRA rollover is an effective way for individuals to take control of their retirement savings and diversify their investment options. By moving funds from a traditional IRA to a self-directed IRA, investors gain the flexibility to invest in alternative assets while still enjoying the potential tax advantages and growth potential associated with retirement accounts. It is recommended to consult with financial professionals or tax advisors to fully understand the rules and regulations surrounding self-directed IRAs before making any investment decisions.