How long do IRA annual contributions take?
Annual contributions are dependent on whether you use a bank wire or a mailed check.
You can start an annual contribution once you establish your Unchained IRA. You do not need to create a vault in order to start funding.
Bank wire: 1-2 business days
For the fastest funding, we recommend using a bank wire, which, depending on your bank, will usually take 1-2 business days. Funds are deposited upon receipt and processing.
ACH transfer: 1-3 business days
The speed of ACH transfers are dependent upon the releasing bank. They are usually completed within 1-3 business days, while some institutions have same day ACH transfer capabilities. Funds are deposited upon receipt and processing.
Note: Your bank may have a maximum limit on value you’re able to ACH transfer. Please consult your bank for their specific ACH policies.
Mailing a check: 1-2 weeks
Mailing a paper check to Fortis Bank can take 2-5 business days, depending on the shipping speed you choose. Once Fortis receives the check, it may take up to an additional 5 business days for it to clear. Funds are deposited after final settlement.
Note: No contents of this post 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.