Start by initiating the request at your receiving custodian.
At any time, you can complete an IRA transfer from your Unchained IRA to another IRA provider. However, that request is initiated at your receiving custodian, not Unchained.
If you are processing a USD transfer, the bitcoin in your Unchained IRA will be converted back to USD (Our standard Trading Desk fees apply) and sent to your new IRA custodian. On any transfer paperwork, you should indicate Fortis Bank as the IRA custodian, not Unchained.
How to transfer your Unchained IRA to another IRA custodian:
Note: These steps are generalized and only to be used as a reference. Follow the specific instructions provided by your receiving custodian and email ira@unchained.com if you have any questions about your outbound transfer.
- Complete your receiving custodian’s IRA transfer paperwork. Ensure you designate Fortis Bank as the sending IRA custodian on the paperwork.
- Sign the Unchained IRA Outbound Transfer Form and upload the signed form to our Secure Document Portal.
- Work with the Unchained IRA team to transfer bitcoin to the Unchained Trading Desk. We will execute a sell trade of your bitcoin to USD. The funds from the sale will be wired to Fortis Bank to fulfill your IRA outbound transfer request. You will need at least one of your hardware wallets for the transaction.
- For clients executing an in-kind transfer: This can vary between receiving custodians but generally involves completing a test deposit before sending the remaining amount. An Unchained IRA team member will guide you through the process.
Note: No contents of this blog 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.