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Crypto IRA Transfer

Transfer Your Existing IRA To A Crypto IRA

If you have an existing IRA, transferring it to My Digital Money is easy. Whether you have a  traditional IRA, Roth IRA, SEP IRA, or a SIMPLE IRA, our team can transfer your retirement account to a crypto IRA without creating a taxable event or penalty.

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How An IRA Transfer Works

Transferring Your Existing IRA Is Fast & Easy

Once you’ve created your account on My Digital Money, our customer success team starts the account setup process. Once you’ve provided us with the details of your existing IRA, we can take everything from there. We will contact your current custodian to start the process and handle any required paperwork and communications.

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Frequently Asked Questions

Common Questions We Get About IRA Transfers

If you’d like to learn more about transferring your IRA to My Digital Money, here are a few of the most common questions we hear.  If you don’t see an answer to your question below, or just want to speak with someone on our team, give us a call or send us an email, we’d be happy to help with any questions or concerns.

How Do I Transfer An IRA From One Institution To Another
Simply complete an application by opening a new account. The application process will collect all of the necessary information that is needed for our custodian, Equity Trust, to initiate the transfer on your behalf. That’s all you need to do. There is no need to contact your financial institution. We do all of the work for you. We will contact you if your financial institution requests more information.  Please confirm that your IRA is in a cash position before we submit your transfer.
Can I Roll Over A 401(k) To An IRA?
Absolutely. If you’re no longer happy with your 401(k) or simply want to move the funds to a self-directed retirement plan, you can roll over your 401(k) to an IRA without incurring any taxes or penalties. There is no limit on the amount that you can roll over and, once complete, you will have access to a much larger variety of investment options. Unlike an IRA transfer, we can’t handle this process for you, but our team is ready and able to help with every step of your 401(k) to IRA rollover.

You can only roll over a 401K for a non-active employer, one that you are no longer contributing to.

Can I Transfer A Roth IRA To A Crypto IRA?
Yes, you can transfer any type of IRA including a Roth IRA to a crypto IRA of the same type. For example, if you have a Traditional and Roth IRA that you want to transfer, you will have to open both a Traditional and Roth IRA account with My Digital Money and initiate two separate transfers for each of the account types.
How Long Does An IRA Transfer Take
An IRA transfer can usually be completed within 2-3 days. However, in some cases, the process can take a little longer.  Since My Digital Money can communicate with your IRA custodian on your behalf, our team can ensure the process is completed as quickly as possible. We have relationships with many of the top IRA custodians and processes that allow us to streamline IRA transfers for our customers. We find that most customers who transfer their IRA to My Digital Money are usually able to start trading within about five days.
How Many Times Can You Rollover An IRA?
The IRS only allows you to roll over an IRA one time per year. In addition, you also can’t make a rollover during this 1-year period from the IRA to which the distribution was rolled over. As of January 1, 2015, the IRS added a new rule stating that you can only make one rollover in any 12-month period, regardless of the number of IRAs you own. The limit bundles together all of an individual’s IRAs and treats them as one IRA for purposes of the limit. This limit does not apply to:
  • rollovers from traditional IRAs to Roth IRAs
  • trustee-to-trustee transfers to another IRA
  • IRA-to-plan rollovers
  • plan-to-IRA rollovers
  • plan-to-plan rollovers