Are your IRA investments not performing or sitting around gathering dust? Yow may want to transfer your retirement funds to a self-directed IRA. Transferring your IRA to a self-directed IRA is a simple process and The Entrust Group is here to help. Here we have 5 simple steps to make your IRA transfer process easy.

Discover the tax benefits of investing in alternative assets, such as real estate, private placements, precious metals, and notes. Grow your earnings on a tax-deferred or tax-free basis, depending on the self-directed plan type.

Transfer your old IRA fund into a self-directed IRA at Entrust today!

Be sure to subscribe to our channel and follow us on social media!

Facebook:
LinkedIn:
Twitter:
Pinterest:

Check out our blog for Self-Directed IRA news, education and more: …(read more)

LEARN MORE ABOUT: IRA Accounts

TRANSFER IRA TO GOLD: Gold IRA Account

TRANSFER IRA TO SILVER: Silver IRA Account

REVEALED: Best Gold Backed IRA

IRA Transfer Process | How To Transfer Your Self Directed IRA in 5 Simple Steps

Individual Retirement Accounts (IRAs) are a popular choice among investors looking to secure their retirement future. If you have a self-directed IRA and are considering transferring it to another custodian or administrator, you might be wondering about the process. Fortunately, transferring your self-directed IRA is a straightforward procedure that can be completed in just 5 simple steps. In this article, we will walk you through the process to ensure a smooth transfer.

Step 1: Choose the New Custodian
The first step in transferring your self-directed IRA is to identify a new custodian or administrator that aligns with your investment goals and preferences. Take the time to research and compare different providers to ensure they offer the services and investment options you desire. It’s crucial to select a reputable and trustworthy custodian that can handle the transfer process efficiently.

Step 2: Open an Account with the New Custodian
Once you have selected the new custodian, you will need to open an account with them. The new custodian will guide you through the account opening process, which usually requires filling out documents and providing identification and account information. Be sure to review any fees or charges associated with the new account.

Step 3: Notify Your Current Custodian
Inform your current custodian about your decision to transfer your self-directed IRA. They will provide you with the necessary paperwork, often referred to as an “IRA transfer request” or a “transfer authorization form.” Complete the form accurately and return it to your current custodian, requesting a direct transfer to the new custodian.

Step 4: Await Completion of Transfer
Once your current custodian receives the transfer authorization form, they will initiate the process of transferring your self-directed IRA to the new custodian. The timeline for completion varies, but it typically takes a few weeks. During this time, it is essential to avoid taking any distributions or making investment decisions to ensure the smooth transfer of your funds.

Step 5: Review Your New Account
After the transfer is complete, you will receive confirmation from your new custodian. Take the time to review your new account and ensure that all funds and investments transferred accurately. Verify that your new custodian has updated your contact information and preferences as needed.

It’s crucial to note that the IRS permits only one rollover from an IRA to another IRA within a 12-month period. However, this rule does not apply to trustee-to-trustee transfers, where the money is transferred directly between custodians. Therefore, it is generally advisable to opt for a direct transfer to avoid any tax implications.

In conclusion, transferring your self-directed IRA in 5 simple steps is an uncomplicated process. By carefully selecting a new custodian, opening an account with them, notifying your current custodian, awaiting the completion of the transfer, and reviewing your new account, you can seamlessly transfer your self-directed IRA to a new custodian. Remember to consult with financial advisors or tax professionals to fully understand the implications and options available to you.