Follow these steps to initiate a rollover into your Unchained IRA.
Before you can fund your Unchained IRA, you must complete your IRA Onboarding and create an IRA vault on our platform. Once you complete those steps, you can 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
Below, we will cover how to complete a 401(k)-to-IRA rollover. 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:
401(k)-to-IRA rollover
You can typically only roll over 401(k) assets if the plan is from a former employer.
To initiate a 401k-to-IRA rollover:
- Complete a Funding Request Form.
- Select Employer Plan Rollover: 401(k), 403(b), TSP or others as your funding type.
- Contact your 401(k) plan administrator and inform them that you will be rolling over your plan into an IRA.
- Your administrator will cut you a check payable to Fortis Bank and mail it to you.
- Once you receive the check, you will mail that check to Fortis.
- There is a settlement period of ~5 business days for the check to clear once it arrives at Fortis, 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.).
Tip: 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.
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.