American IRA Discusses Are There Five Funding Options for Self-Directed IRAs?

CHARLOTTE, NC / ACCESSWIRE / November 9, 2020 / How can investors fund a Self-Directed IRA? Recently, the American IRA blog tackled this exact topic at its company blog, addressing five specific funding options. According to the article, only one or two of these options may be available to certain investors, depending on the specific financial situation at hand. However, the post went into detail about the different way’s investors can move funds into a Self-Directed IRA, and how these different ways work.

For example, the post highlighted how the “rollover” can actually be one of two types: the direct and the indirect rollover. In a direct rollover, money moves quickly to a new account from a different retirement account. In an indirect rollover, the money will briefly be in the hands of the account holder. This is designed to occur for less than 60 days before the money is then put into the proper retirement account.

In some cases, direct transfers may be available to investors as well. For example, an investor moving money from one account to a similar account may be able to directly transfer that money without tax penalty, if the two accounts are of the same type. If no distribution is made to the investor, the transfer does not incur penalties or fees.

The post detailed five different methods for funding Self-Directed IRAs. In addition to rollovers and transfers, it addressed such issues as contributions and conversions. The idea was to give investors a complete bird’s-eye view of what it can be like to fund a Self-Directed IRA for the first time.

“An investor needs to know how to set up an account, step-by-step,” said Jim Hitt, CEO of American IRA. “So, with this post, we identified the different ways that an investor can fund their Self-Directed IRA for the first time. Knowing what’s available is important, because it helps investors see how the process might work, and that it’s not as intimidating as they might think.”

For more information, visit the post at www.AmericanIRA.com. Interested parties may also contact American IRA by dialing 866-7500-IRA.

“About:
American IRA, LLC was established in 2004 by Jim Hitt, CEO in Asheville, NC.

The mission of American IRA is to provide the highest level of customer service in the self-directed retirement industry. Jim Hitt and his team have grown the company to over $400 million in assets under administration by educating the public that their Self-Directed IRA account can invest in a variety of assets such as real estate, private lending, limited liability companies, precious metals and much more.

As a Self-Directed IRA administrator, they are a neutral third party. They do not make any recommendations to any person or entity associated with investments of any type (including financial representatives, investment promoters or companies, or employees, agents or representatives associated with these firms). They are not responsible for and are not bound by any statements, representations, warranties or agreements made by any such person or entity and do not provide any recommendation on the quality profitability or reputability of any investment, individual or company. The term “they” refers to American IRA, located in Asheville and Charlotte, NC and Atlanta, GA.”

SOURCE: American IRA, LLC

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