Investor Insights Blog|How to Pay Self-Directed IRA Investment Expenses Quickly and Easily
Managing Your Account
How to Pay Self-Directed IRA Investment Expenses Quickly and Easily
Two foundational principles of investing with a self-directed IRA pertain to how to pay and manage bills and investment expenses related to your account.
All expenses related to an investment held in an IRA must be paid directly from the IRA – not by the account owner, a company they own, or other third party.
The account owner must remain at arm’s-length from their investment and avoid “self-dealing” or co-mingling personal funds with their IRA’s investment.
Fortunately, there’s a fast, easy solution to paying bills and investment expenses related to your self-directed IRA or other retirement account at Equity Trust.
With around-the-clock access from your tablet, computer or mobile device, Equity Trust Company’s online account management system – myEQUITY – makes it easy to:
Quickly pay contractors, attorneys or other third parties for work related to your investment
Issue funds for appliances, building materials, supplies and other investment expenses
Schedule and modify payments for recurring expenses such as property taxes, utility payments, insurance, or payments to a property manager or loan servicer
Simply provide the payment details and select your payment method – such as a check, wire or ACH delivery – and funds will be sent from your Equity Trust Company account to the payee in 24 to 48 hours.
Watch the video below to learn more about myEQUITY Online Bill Pay:
Regardless of the investments in your portfolio, myEQUITY makes it easy to pay bills and investment expenses without the hassle and cost of establishing and managing an LLC.
Plus, enjoy a clean line-of-sight of your investment and transaction activity with:
Easy-to-use dashboards that sort and filter by asset, date and transaction type
Not an Equity Trust client? Schedule a consultation to learn more about how Equity Trust’s myEQUITY is simplifying and streamlining the self-directed IRA investment process.
1
Can I check my account online to see the status of my account?
Yes. Once your account has been opened and you have your own Client Access PIN (personal identification number) you can check the status of your transfer online or feel free to contact Equity Trust. Our intuitive and interactive account management site, myEQUITY, provides a responsive experience for computers, tablets and mobile devices offering around-the-clock account access at home or on-the-go.
2
If I invested in a rental property with my IRA, how does the rental income get into my account?
The fastest way to receive rental payments is via ACH direct debits using the Online Payment Center, where tenants and property managers can easily submit payments to Equity Trust accounts.
Rental payments can also be sent to Equity Trust for the benefit of (FBO) your IRA. The checks or money order should be made payable to: “Equity Trust Company Custodian FBO [Your Name] IRA [IRA Number].”
Once received, the checks or money orders are deposited into your IRA. All checks must be sent to Equity Trust with a payment coupon.
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You are leaving trustetc.com to enter the ETC Brokerage Services (Member FINRA/SIPC) website (etcbrokerage.com), the registered broker-dealer affiliate of Equity Trust Company. ETC Brokerage Services provides access to brokerage and investment products which ARE NOT FDIC insured. ETC Brokerage does not provide investment advice or recommendations as to any investment. All investments are selected and made solely by self-directed account owners.
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