Transfer FAQs

What is a Transfer IRA?

A transfer occurs when IRA assets are moved directly from one financial institution to another without the IRA owner taking possession of his/her assets. By executing a transfer, IRA owners avoid possible tax liabilities that might occur by taking possession of their funds personally. Unlike rollovers, there is no set limit to the number of transfers that can be executed in a year.

 

Can I Transfer Funds from a Previously Established Retirement Plan into an Equity Trust Self-Directed IRA?

It is possible to transfer funds from an IRA you hold at another custodian or a retirement plan from a prior employer, provided the tax environments are the same.  A traditional IRA held at another custodian needs to have its funds transferred to a Traditional IRA.  A Roth IRA needs to have its funds moved to a Roth IRA.  Our retirement account specialists can help you determine what type of account you need to open at Equity Trust to move your funds in an approved manner.

 

How does the Transfer Process Work?

It's a simple 3 step process!

 

Am I Required to Transfer my Entire Account

No, you are free to move all of your assets or only part of your account’s holdings as you see fit to your new account at Equity Trust.  Since there are no limits to the number of transfers you can do in a year, you can move your cash and/or other assets in a timing that works best for your goals.

 

Do I have to Liquidate Investments in Order to Transfer Assets to my Self-Directed IRA at Equity Trust?

Although transfer of cash is a much faster process, clients may choose to transfer assets in kind. This allows clients to maintain their current investment positions, the only difference being the registration of the asset. However, the ability to transfer assets in-kind from a tax-qualified plan will be subject to the provisions of that arrangement; therefore, you should consult with your plan administrator regarding the permissible options allowed under the tax-qualified plan.

 

Do transfer funds from a previously established IRA have to be from like accounts?

Yes. For instance, if you wish to transfer funds from a Traditional IRA to an Equity Trust self-directed IRA, the funds must be transferred to a Traditional IRA.

 

How are funds transferred to Equity Trust?

Cash funds can be transferred via check or wire (see wiring instructions). All other assets are transferred either ACATS or non ACATS.

 

How long do transfers take?

The portion of the account transfer process that Equity Trust is responsible for takes approximately 2-3 business days. Once the transfer form has been mailed, the speed of process is up to the transferring custodian. The entire process can range from a few days to upwards of two months. Generally speaking, transfers take the following amount of time:
  • Cash Transfers - No matter where funds are being transferred from, cash transfers take the shortest period of time, approximately 1-4 business days.
  • Transfer from a Brokerage Account - The amount of time expected for a brokerage account transfer is approximately 10-15 business days from the date paperwork is completed. The actual time will vary depending on the speed with which the brokerage firm responds to our request.
  • Transfer from a Mutual Fund - The amount of time expected for a mutual fund transfer is approximately 14-21 days after the paperwork is received. The actual time will vary, depending on the speed with which the mutual fund responds to the transfer request.

Is There any Way I can Expedite the Process?

Yes, there are several ways you can expedite the transfer process:
  1. Yes, there are several ways you can expedite the transfer process:
  2. If you plan on liquidating stocks or funds once they have been transferred to Equity Trust, you might want to consider enacting this sale with your current custodian. Re-registration of funds and stocks generally takes a longer amount of time than cash transfers or wires.
  3. Stay on top of the process and be in regular communication with the transferring institution. Remember, these are your funds.

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.