There are three methods of depositing funds to your IRA trading account. You may transfer funds from any existing IRA, you may rollover funds from an employer plan (i.e. 401k, 403b, 457) or you may make an annual contribution to the IRA.
- “Rollover” - Many people have 401k or similar qualified retirement plans through their employers. But most of these accounts do not provide a wide variety of investment options, including precious metals. However, you can make a special type of transfer, called a rollover, from a former (and sometimes current) employer’s plan to an IRA to make this investment. The transferred money retains its tax advantaged status and is generally no cost to move. A rollover is initiated by you with the plan you are moving money out from.
- Transfer - If you already have an IRA account, such as with an online stock broker, then you can transfer some or all of the account to your HAA IRA to invest in precious metals. Just complete a simple form with our custodian and they will take care of the process. You can request as many transfers as you like each year; transfers are tax-free, typically completed in 5-7 business days, and there are no waiting periods between transfers. IRA transfers are not reportable on your tax return.
- Contribution - You can also contribute cash directly to your IRA, up to certain limits set by Congress. These contributions are sometimes tax deductible, and the proceeds even tax free if you qualify for a Roth IRA.
Our custodian partners are available to help guide you through the process of choosing an IRA type and funding method to suit your situation. Please reach out to our customer service team to be connected with a custodian representative.
More information on making a deposit is available on the “Funding” tab inside trading portal.