Expand Your Investment Possibilities in 3 Easy Steps

Step 1: Open Your Account

Open your account using the myEQUITY Online Application Wizard.

Open your account online in less than 10 minutes. You will be guided through the steps to provide your personal information and method of funding for your account. Then after completing a final review of your application and signing using eSignature your application will be submitted.

What’s next?

Your account will typically be opened within 3 business days. Delays may occur if there are any corrections needed from you in order to complete the account setup process.

Step 2: Fund Your Account

There are three main ways to fund your Traditional or Roth IRA:
  1. Rollover
  2. Transfer
  3. Out-of-pocket contribution

These options are not mutually exclusive.  It is possible to fund your IRA by one, two, or all three methods.  Additionally, it may be possible to fund a Roth IRA through a Roth Conversion.

Learn more about Account Funding Options

Step 3: Start Investing

Once your account is open and funded, you are ready to invest.

You direct all investments for your account with the freedom and flexibility to diversify your portfolio with both alternative and traditional assets.

Equity Trust will process the investment, per your direction, on behalf of your account.

You can process your investment direction online using the intuitive wizards or Transaction Launcher feature on myEQUITY to submit your request. The Transaction Tracker and dashboard provide access to monitor transactions around-the-clock from any device.

OPEN YOUR ACCOUNT ONLINE

Account Funding Options

Rollover, Transfer, Out of Pocket Contribution, or Roth Conversion

Rollover

If you have a qualified plan from a previous employer, such as a 401(k), 403(b), 457, Thrift Savings Plan or other qualified plan, or if you have an existing IRA, you can fund your account by rollover.

A rollover involves moving funds from a qualified plan or IRA to a different IRA and typically occurs when the account owner receives a personal distribution of funds and then deposits the funds into their new account.

Important Note: You are limited to one rollover within a 12-month period. This limitation does not apply to direct transfers from one IRA trustee directly to another. You can review more information here.

Transfer

If you have an existing Traditional IRA or Roth IRA at another financial institution, you can request a transfer to your newly established self-directed IRA at Equity Trust.

During a transfer, funds and/or assets from your existing IRA at your current financial institution are moved directly to a compatible account at Equity Trust (Traditional IRA to Traditional IRA or Roth IRA to Roth IRA). Unlike out-of-pocket contributions, there are no limits on the amount you can transfer.

Transfers can be initiated online using the myEQUITY Transfer Wizard or by completing an Account Transfer form. You can request a full or partial transfer of an account. A transfer can move assets from the existing account in-kind, and/or you may request a transfer of cash.

Out of Pocket Contribution

Assuming you qualify, you can contribute to your IRA from your personal checking or savings account, or with a credit card payment.

This funding method is subject to annual maximum contribution limits set by the IRS each year. For 2019 the limits allow for contributions up to $6,000 if under age 50 or $7,000 if 50 or older.

Roth Conversion

Roth IRAs may be funded through a Roth Conversion, which involves converting funds and/or assets from a tax-deferred account (such as a Traditional IRA, SEP IRA, SIMPLE IRA, 401(k) or other tax-deferred plan) to a Roth IRA.

A Roth Conversion is a taxable event: When you convert from a tax-deferred account to an after-tax Roth IRA, the amount of the conversion is added to your ordinary income in the year of the conversion and subject to ordinary income tax. It’s important to consult with a CPA, tax attorney, or other financial professional when considering a Roth Conversion.

Note: This is possible even for individuals who exceed the income limits to be eligible to contribute to a Roth IRA out of pocket.

Need Help Opening Your Account?

Call 855-673-4721 or schedule a consultation and a Senior Account Executive will answer questions and walk you through the process.

SCHEDULE A CONSULTATION