An IRA transfer is the movement of funds from an IRA into another IRA. All transfers into the Swan IRA must be in the form of USD/cash equivalents (eg: Money Market Fund) or in bitcoin. We strongly recommend that you transition your investments to USD or cash equivalents cash prior to initiating the transfer request.
To initiate an IRA transfer into your Swan IRA, click on "Transfers" on the Navigation bar of your Swan IRA account and then follow the instructions as shown below.
When clicking on "Start a Swan IRA Transfer", you will be prompted to select your current IRA custodian in a dropdown list. If you can't find your current IRA custodian in the list, click on "My current custodian is not listed" and add your custodian name manually.
Next step is to add the transfer details such as the transfer type and amount, or your current IRA account number:
There are 4 different transfers types:
- Partial USD Account: Select Partial USD Account if you are transferring some of your current IRA account value as cash.
- Full USD Account: Select Full USD Account if you are liquidating all assets to transfer your entire IRA account balance as cash.
- Partial BTC account: Select Partial BTC account if you are transferring some of your BTC holdings to your existing IRA custodian.
- Full BTC account: Select Full BTC account if you are transferring all of your BTC holdings to your existing IRA custodian.
Once you have added this information, click on the "Review and Sign" yellow button. This will create a DocuSign document for you to sign and proceed with the last step of the IRA transfer process.
The last step is to upload an Account statement of your existing IRA custodian. If your account statement is not updated with your current cash balance, upload proof of cash in your current account for the requested transfer. This can be a screenshot of your custodian's online account that shows your IRA account number (at least 4 last digits) and all the current positions/assets."
Click on "Submit Transfer Request" and transfer initiated! We will review your documentation and if all the information provided is correct, we will initiate the transfer request with your current IRA custodian.
What is the cost of transferring funds into a Swan IRA?
The transaction fee is 0.99%, funded from IRA funds, per IRS regulations. This fee will be taken out when the funds are transferred over.
Can I transfer assets in-kind into a Swan IRA?
An in-kind transfer is when you move assets from one account to another without selling your holdings. You can transfer BTC from your existing IRA account into Swan IRA. In-kind BTC transfers have no fee.
Once I receive my IRA funds, how do I purchase Bitcoin?
After you complete a rollover or transfer, you’ll have USD sitting inside your Swan IRA. Then from your Swan Dashboard, you can either (1) convert your USD into BTC instantly or (2) set up an automatic recurring plan (ex: $500/month) to convert your USD to BTC over time.
If you’d like to learn more about how you can hold Bitcoin in your retirement portfolio, book a call with one of our Swan IRA specialists today.
If you have any questions, you can contact us at firstname.lastname@example.org.