Rollovers and transfers
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      3. Rollovers and transfers

      How do I fund my Unchained IRA?

      An overview of the most common funding methods for the Unchained IRA

      Before you can fund your Unchained IRA, you will first need to complete your IRA Onboarding and set up a new IRA at Solera National Bank (Traditional, Roth, or SEP), as well as create an IRA vault on our platform. Once you complete those steps, you will be able to initiate the funding process.

      There are multiple ways to fund your Unchained IRA. The most common are:

      • IRA-to-IRA transfer
      • 401(k)-to-IRA rollover 
      • Annual contribution

      We'll cover these below. You can also fund your IRA from a few other types of retirement accounts. Contact our team to check if we can support your preferred funding method.

      Video guide

      Watch this short video for a quick run-through of how to fund your Unchained IRA.

      IRA-to-IRA transfer

      To initiate your IRA transfer:

      1. Unless your funds are already in an existing bitcoin IRA, you must liquidate the IRA assets into USD before they are eligible for transfer.
      2. Submit a Funding Form Request.
      3. An Unchained IRA associate will email the applicable funding form via DocuSign for you to sign.
      4. Solera will contact your current custodian to coordinate the transfer of USD.
      5. Once your custodian processes the transfer request, your IRA funds will be sent to Solera, and we will convert the funds into bitcoin and deposit it into your IRA vault. 

      Tip: If you already have a bitcoin IRA with another provider, you can execute an in-kind transfer, allowing you to transfer bitcoin directly to your Unchained IRA. You must speak with your current custodian to see if they allow in-kind transfers.

      401(k)-to-IRA rollover

      You can typically only roll over 401(k) assets if it is a plan from a former employer.

      To initiate a 401k-to-IRA rollover:

      1. Contact your 401(k) plan administrator and inform them that you will be rolling over your plan into an IRA.
      2. Your administrator will cut you a check payable to Solera National Bank and mail it to you.
      3. Once you receive the check, you will mail that check to Solera.
      4. There is a settlement period of ~5 business days for the check to clear once it arrives at Solera, after which we will convert the USD into bitcoin and deposit it into your IRA vault.   

      This is the same process you would follow for all employer-sponsored plans (403(b), 457(b), TSP, etc.). 

      Note: If you have a 401(k) with a current employer, you can only roll that into an Unchained IRA if your plan allows for "in-service distributions." It is uncommon for employers to allow this, but you can contact your current plan administrator to see if it is an option. 

      Annual Contribution

      You can also fund your Unchained IRA on an ongoing basis by making an annual contribution. There are two ways to make an annual contribution to your Unchained IRA:

      Send a wire transfer.

      1. Complete a Funding Request Form.
      2. An Unchained IRA associate will email the applicable funding form via DocuSign for you to sign. We will also provide wire instructions.
      3. Send the wire transfer from your bank using the provided instructions. Wires usually settle the same or next business day. We will perform the BTC trade the following business day.

      Note: Solera National Bank currently charges a $15 inbound wire fee.

      Mail a paper check to Solera.

      1. Complete a Funding Request Form.
      2. An Unchained IRA associate will email the applicable funding form via DocuSign for you to sign. We will also provide instructions for mailing the check.
      3. Mail a check to Solera National Bank made payable to your IRA. There is a settlement period of ~5 business days for the check to clear once it arrives at Solera, after which we will convert the USD into bitcoin and deposit it into your IRA vault.

      Note: There is a $2,000 minimum for each transfer, rollover, or annual contribution.

      No contents of this article may be relied upon as tax, legal, or financial advice, as they have not been tailored to you and have not been reviewed by any attorney, financial advisor, or tax professional. For any questions related to your own specific situation, please consult with your own attorney, tax professional, and/or licensed financial advisor.