New Individual Retirement Account (IRA) – Frequently Asked Questions

Please spend 15 minutes reading through this post, as it will likely answer all of your questions when it comes to starting a new IRA.

• What is the difference between investing inside of an IRA vs outside of an IRA?
  • Investing Inside vs Outside of an IRA

• What is the difference between a Traditional IRA and a Roth IRA?
  • Traditional IRA vs Roth IRA – Which is best?

• What is the minimum account balance in order to start an IRA with iTrustCapital?
  • $1,000

• How much can I contribute per year?
  • For 2020, $6,000 per year if you are under 50 years of age and $7,000 if you are 50 or older.

• How do I make trades once I am set up?
  • You simply login to your iTrustCapital account and make trades, anytime night or day. Our platform is live 24/7 and you control all trades, similar to Coinbase.

• I make too much money to contribute to a Roth IRA, can I still start one?
  • Backdoor Roth IRA Information

• Can I fund my IRA with Crypto Assets that I have?
  • Short Answer: No
  • Long Answer Can I fund my IRA with Crypto?

• How can I fund my IRA once it’s set up?
  • Short Answer: Bank Wire or Check
  • Long Answer: How to fund your iTrustCapital IRA

• How about with an ACH Transfer, Debit Card or Credit Card?
  • No, all contributions must come in the form of Bank Wire or Check.

• What fees does iTrustCapital charge?
  • We have the lowest fees in the industry, feel free to visit our Fee Page

• How do I pay for the fees?
  • The trading fees come out of the account balance.
  • The monthly fee comes out of a debit or credit card you will put on file.

• What assets do you offer?
  • Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Ripple (XRP), EOS (EOS) and Physical Gold & Silver.
  • We will be adding many more crypto assets in the future, but don’t have any announcements yet!

• Can I hold the Crypto Assets in my own personal wallet?
  • Short Answer: No
  • Long Answer: Self Custody vs Institutional Custody

• If I can’t hold the Crypto Assets, who is storing it for me?
  • Short Answer: Curv
  • Long Answer: Clients receive Institutional Custody through Curv

• Do you have Insurance to guarantee the protection of my funds?
  • Insurance in your Crypto IRA

• What happens if iTrustCapital goes down or disappears, what happens to my funds? 
  • Protecting your assets in a Post COVID-19 World

•  When can I withdraw from my IRA? Note: This is called a distribution
  • What if I withdraw from my IRA?

• When I retire and take distributions, do I need to sell or can I take Crypto / Precious Metals?
  • Yes, we do allow clients to take their assets in-kind. This means you can take possession of the assets you have invested with us in the same form (in-kind). You are not required to sell back to USD.

• Can iTrustCapital help me with advice – financial or tax related?
  • No, we simply provide a turnkey platform for you to manage your own IRA funds. It’s best to consult with your own Financial Advisor or Tax Professional for those types of questions.

• How can I get started?
  • Step by Step – Walk Through Guide

Thanks for choosing iTrustCapital!

Still have questions? Schedule a call here