Toll-Free (866) 447-6598

Jeff Dixon, MBA, CISP, SDIP

Moving cash to an IRA with uDirect is as easy as completing a Transfer or Rollover form. What about moving non-cash assets to an IRA? The same forms are needed and there are a few extra steps.

What needs to happen?

uDirect needs to review and approve a copy of the original, signed investment documents.  Complete an Asset Transfer ID Form, one for each non-cash asset. Contact us to receive the form and discuss your transfer plans.

Additionally, we need the latest statement from the retirement account being transferred.

Transferring a note?  We will need a copy of the note, and if it is a secured loan, the deed of trust.

Reviewing a Private Placement, LLC or Syndication to transfer requires an Operating and Subscription Agreement. Please provide these.

Moving private stock, tax liens or precious metals, requires a purchase agreement or invoice.

Transferring an IRA-Owned LLC requires the following:

  • LLC Operating Agreement
  • Copy of SS4 for the entity
  • Screen shot from state’s Secretary of State showing entity is in good standing
  • 1065 partnership return for the past tax year for the entity.

Whichever asset you wish to transfer, re-title that asset in the new IRA account name. This is a self-directed IRA and as a result, you would complete this step after the asset is moved to us.

Exceptions

Most non-cash assets can be transferred to us, but there are some items we will not accept.

  • Physical real estate property
  • A non-performing asset
  • A foreign based asset
  • An asset that was not titled correctly

If you have an IRA owned LLC, the “Checkbook IRA”, and it is holding real estate, or an asset we would not take, it is still acceptable. We will need to have approved the LLC’s Operating Agreement, and a few related items, referenced earlier. Keep in mind you are not moving real estate, or any LLC owned asset to us in this case, you would be moving the LLC.

To discuss moving an asset to us from a different custodian we are happy to set up a consultation.  If you have other Self-Directed IRA / Solo 401k questions, please contact us at 866-447-6598 or email us at info@uDirectIRA.com.

Because uDirect is not a tax or legal advisor, please contact your own tax or legal professional with any such questions.

No information in this communication should be considered financial, tax, or legal advice and may not be relied upon as such. All discussions are for informational purposes only.

Attention:

uDirect IRA Services staff is working both from home and from our offices in response to COVID-19. Rest assured, we are fully operational and ready to help with your retirement needs.