Moving cash into your IRA is straightforward. Complete a Transfer or Rollover form.
Want to transfer non-cash assets? While the process is similar, there are additional steps to ensure everything is done correctly and in compliance with IRS regulations.
Below you will find a breakdown of what you need to know and do when transferring non-cash assets to your IRA.
Steps for Transferring Non-Cash Assets
- Provide Investment Documentation
Submit a copy of the original signed investment documents for the asset you wish to transfer. uDirect will review and approve these documents before proceeding.
Complete an Asset Transfer ID Form for each non-cash asset. Contact uDirect to obtain the form and discuss your specific transfer plans. - Include a Statement from the Current Account
Provide the latest statement from the retirement account where the asset is currently held. - Asset-Specific Requirements
Depending on the type of asset you’re transferring, additional documentation is needed:
- For Notes: Provide a copy of the note. If it’s a secured loan, include the deed of trust.
- For Private Placements, LLCs, or Syndications: Submit the Operating Agreement and Subscription Agreement.
- For Private Stock, Tax Liens, or Precious Metals: Provide a purchase agreement or invoice.
- For IRA-Owned LLCs:
- LLC Operating Agreement
- Copy of the SS-4 document for the entity
- Screenshot from the state’s Secretary of State website showing the entity is in good standing
- Form 1065 (Partnership Return) for the most recent tax year
- Re-title the Asset: Once the transfer is approved, you must re-title the asset in the name of your new IRA account. Since this is a self-directed IRA, you’ll handle this step after the asset has been transferred to uDirect.
Exceptions: Assets We Cannot Accept
While most non-cash assets can be transferred, there are exceptions:
- Non-Performing Assets: Assets that are not producing income or returns.
- Foreign-Based Assets: Assets located outside the U.S.
- Incorrectly Titled Assets: Assets not properly titled in the name of the IRA or IRA-owned LLC.
Special Considerations for IRA-Owned LLCs (“Checkbook IRAs”)
If your IRA-owned LLC holds real estate or other assets that uDirect does not accept directly, the LLC itself may still be transferred. To complete this transfer, ensure uDirect has reviewed and approved the LLC Operating Agreement and other required documentation.
Consult with uDirect IRA
Transferring non-cash assets from another custodian to uDirect doesn’t have to be complicated. To get started, schedule a consultation with our team. We’re here to answer your questions about Self-Directed IRAs, Solo 401(k)s, and other investment opportunities.
Call us at 866-402-2781
Email us at info@uDirectIRA.com
Important Note:
uDirect is not a tax or legal advisor. Please consult your own tax or legal professional for guidance specific to your situation. The information provided here is for informational purposes only and should not be relied upon as financial, tax, or legal advice.
