Swan IRA is one of the best ways for US residents or taxpayers to hold Bitcoin in a tax-advantaged way. The Swan IRA is not available to international customers.
We offer both a self-directed Traditional IRA or Roth IRA, with Bitcoin held in a legal, regulated trust account. Both Traditional IRAs and Roth IRAs have tax advantages. Traditional IRA’s typically have pre-tax contributions that grow tax-deferred until disbursement. While Roth IRA’s typically have post-tax contributions that grow tax-free.
Traditional IRAs can accept annual contributions (with limits varying by owner’s age), transfers from other Traditional IRAs, or rollovers from other pre-tax accounts like a 401(k)’s, solo401(k), 403(b)’s, 457, SEP, SIMPLE IRA, etc.
Roth IRAs can accept annual contributions (with limits varying by owners age), transfers from other Roth IRAs, or rollovers from other post-tax accounts like 401(k) Roths.
Swan IRAs cannot receive transfers from a Health Savings Account (HSA).
Read more about IRAs at this IRS website: Individual Retirement Arrangements (IRAs) | Internal Revenue Service (irs.gov)
Does the Swan IRA hold Bitcoin in a custodial or non-custodian approach?
The Swan IRA holds Bitcoin in a custodial legal trust account, in your name as the beneficial owner. Each account has a unique ABA and account number.
Can I move retirement funds from other platforms to Swan's IRA?
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.
Can I self-custody my Bitcoin from my IRA?
For our custodial IRA service, Bitcoin can not be withdrawn into self-custody. Bitcoin can be sold and proceeds disbursed under standard IRA disbursement rules.
If you have a Checkbook IRA LLC/Trust, you can open a brokerage account and purchase/self-custody the bitcoin for your Checkbook IRA. You can open a Checkbook IRA account using the following link:
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.
Can I open multiple Swan IRA accounts?
Yes, you can open multiple Swan IRAs accounts.
What is the pricing of the Swan IRA?
There are two types of fees for the Swan IRA:
- Monthly administration fee: A fee of $20 will be charged until your balance reaches $100,000. If your balance exceeds $100,000, an annual fee of 0.25% of your balance will be deducted from your linked bank account. This monthly fee will be charged from the most recent bank account that you have added to your user account.
- Purchase fee: A fee of 0.99% will be deducted from your deposit transfer at the time of purchase.
Can I do a ‘Roth Conversion' at Swan?
A movement of funds from a Traditional IRA into a Roth IRA is a Roth Conversion. Yes you can do a Roth Conversion at Swan, please contact us at email@example.com.
Can I open a Swan IRA for my children who are under 18?
Minor IRAs (also called Custodial IRAs) are not available through Swan at this time. These accounts would legally shift to the child at age 18 and require a more complex structure. We plan to build this functionality and offer it in the future.
How do I close my Swan IRA or move funds to another provider?
To close your Swan IRA or move funds to another IRA custodian, please contact us at firstname.lastname@example.org