The 3 Ways to Fund your iTrustCapital IRA | Learn

3 Ways to Fund Your iTrustCapital Crypto IRA

There are 3 ways to fund an IRA. Depending on your situation, you can fund it one or possibly multiple ways.

1) Transfer an Existing IRA

IRA examples: Traditional, Roth, SEP, Simple, Inherited, Rollover
Existing IRAs can be transferred to a new IRA without creating a taxable event or penalty.
If you already have a Bitcoin/Crypto IRA through a different provider, you can likely do an In-Kind Transfer. This allows you to transfer cryptocurrency wallet to wallet without liquidating to your assets.

Transfer Process

Once your iTrustCapital IRA is established, our processing team will email you funding instructions.
Attached will be two forms to print, physically sign, answer a few questions, scan, and email back to our processing team.
We will add the 'letter of acceptance' and wire instructions before forwarding to your current custodian.
The transfer process from start to finish usually takes 1-2 weeks.

2) Rollover an Employer Plan

Plan examples: 401k, 403b, TSP, 457, some pensions
Plans from previous employers CAN be rolled-over into an IRA.
Plans from current employers MAY be able to be rolled-over into an IRA.

Rollover Process

Once your iTrustCapital IRA is established, our processing team will email you funding instructions.
You will contact your account's plan administrator and instruct them to rollover your funds to your new IRA.
The rollover process usually takes 2-4 weeks due to employer plans typically only being willing to send physical checks.

3) Contribution of New Funds

A contribution can only be made in USD per IRS rules.
2023 Contribution limits:
- $6,500 if you are under 50 yrs. old
- $7,500 if you are over 50 yrs. old

Roth IRA Contribution Guidelines for 2023

Filling Single, you must have a modified adjusted gross income under $138,000 to make the maximum contribution to a Roth IRA.
If you are married and filing jointly, your MAGI must be less than $218,000 to make the maximum contribution to a Roth IRA.
- If eligible, both you and your spouse can open your own Roth IRAs and make the maximum contribution.

Roth IRA Contribution Guidelines for 2022

Filling Single, you must have a modified adjusted gross income under $129,000 to make the maximum contribution to a Roth IRA.
If you are married and filing jointly, your MAGI must be less than $204,000 to make the maximum contribution to a Roth IRA.
- If eligible, both you and your spouse can open your own Roth IRAs and make the maximum contribution.

Contribution process

Once your iTrustCapital IRA is established, our processing team will email you funding instructions.
You have the option of linking your bank via ACH, sending a bank wire, or a check.
The contribution process typically takes 3-5 business days for new accounts & 2-4 business days when making additional contributions.
- Note: If mailing a check there is a mandatory 3 business day hold before funds will be available.

Still have questions about your situation?

Please call us at (562) 600-8437 on weekdays from 8AM-12PM; 2PM-5PM PT.

DISCLAIMER

This article is for information purposes only. It does not constitute investment advice in any way. It does not constitute an offer to sell or a solicitation of an offer to buy or sell any cryptocurrency or security or to participate in any investment strategy.

iTrustCapital is a cryptocurrency IRA software platform. It is not an exchange, funding portal, custodian, trust company, licensed broker, dealer, broker-dealer, investment advisor, investment manager, or adviser in the United States or elsewhere. iTrustCapital is not affiliated with and does not endorse any particular cryptocurrency, precious metal, or investment strategy.

Cryptocurrencies are a speculative investment with risk of loss. Precious metals are a speculative investment with risk of loss. Cryptocurrency is not legal tender backed by the United States government, nor is it subject to Federal Deposit Insurance Corporation (“FDIC”) insurance or protections. Clients do not receive a choice of custody partner. The self-directed purchase and sale of cryptocurrency through a cryptocurrency IRA have not been endorsed by the IRS or any regulatory agency. Historical performance is no guarantee of future results.

Some taxes and conditions may apply depending on the type of IRA account. Investors assume the risk of all purchase and sale decisions. iTrustCapital makes no guarantee or representation regarding investors’ ability to profit from any transaction or the tax implications of any transaction. iTrustCapital does not provide legal, investment or tax advice. Consult a qualified legal, investment, or tax professional.

iTrustCapital makes no representation or warranty as to the accuracy or completeness of this information and shall not have any liability for any representations (expressed or implied) or omissions from the information contained herein. iTrustCapital disclaims any and all liability to any party for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising directly or indirectly from any use of this information, which is provided as is, without warranties.