Transfer Roth IRA to a SDIRA?

Question

Does anyone know how or if it is possible to transfer a Roth IRA to a SDIRA?

If so, who would you recommend using for this type of service?

Doing so would align more with my goals and values. When I began the Roth IRA, I was ignorant to real estate and the things you can do from a SDIRA.

Gail Greenberg · Answer

If you're not setting up a "checkbook control" Roth SDIRA, be sure to choose an IRA custodian company that can move fast so you don't lose any deals due to delays getting your funding. Camaplan in Pennsylvania is a good one and so is Quest in Texas.

If you want to do checkbook control, look at IRA Financial Group http://www.irafinancialgroup.com/   Ask for Adam Bergman - they're very helpful.

Good luck! Roth is a great idea if you have a good plan for vastly growing the money in your IRA.  That's what I'm doing. ;-)

Carl Fischer · Answer

@Samuel Lynch you can most definitely transfer your Roth IRA to a self directed administrator/custodian. No penalties or taxes or  IRS forms are required if you fill out "transfer" paperwork.  A Rollover is  also possible but definitely try to do the transfer. The IRS allows one rollover per year. A rollover means your existing  custodian sends the money to you and you have 60 days to put it in a Roth account.  There is also a 1099 form created and provided to the  IRS.  The Administrator to administrator transfer avoids the reporting and new administrator/custodian gets the money transferred for you from the existing company

Kevin Felmlee · Answer

I personally use CamaPlan for all my SDIRA's as custodian.

Daria B. · Answer

I would do the "transfer" to have it rolled over directly to the new custodian and never touch the money. This way you are completely out of the loop and never personally receive it thus avoid any IRS mishap of them thinking you took the money out. We are buried in forms and I know of someone whose outgoing IRA company sent the check to that person and they narrowly escaped the issue of the IRA thinking they received it because of the time required to put that money into another custodian. They (outgoing custodian) were supposed to "transfer" the money, not send it to the person. That person then was responsible for getting it to the new company and making sure at tax time the correct forms were sent to them to show it was a transfer and not a distribution or close out.

Scott Carson · Answer

I'm a huge proponent of Quest IRA.  The BEST customer service in the industry...hands down.  Add in all the education that they are doing online that is FREE and you've got the best in the industry.

Rick Pozos · Answer

As mentioned, YES you can do it. NOW, what are you going to do with the sdira?? You have to keep it moving. If the money just sits there, you are not making any return. You should have deals in the pipeline right now that you will be ready to jump on for your sdira.

Edmund Ricker · Answer

@Samuel Lynch

You can accomplish what you are asking for.  I used Camaplan and had good results.

I find their customer service excellent and their fee structure very competitive.

Good luck on your  journey.

Ed

Carl Fischer · Answer

@Gail Greenberg @Kevin Felmlee

Thanks Gail and Kevin

George Blower · Answer

@Samuel Lynch

You will need to find a custodian that offers a Roth IRA that can be invested in real estate. One of those companies is IRA Services Trust Company. They have been in business since 1978 and have a proven record.

Jeff Greenberg · Answer

There are many good SDIRA custodians available, but make sure that their fee structure is in line with what your plans are for the funds.  You wouldn't want to run a fix and flip business with a company that does not allow checkbook control and charges for each transaction.  Not all custodians are the same.

Transfer Roth IRA to a SDIRA?

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