There are 3 ways to fund an IRA. Depending on your situation, you can fund it with one or possibly multiple ways.
Any existing IRA can be transferred to a new IRA without creating a taxable event or penalty. To transfer to an iTrustCapital IRA, you will need to liquidate the amount you wish to transfer into USD position. The exception is if you have an existing Crypto IRA with another provider. In that case, an “In-Kind Transfer” may likely be done, resulting in not having to liquidate assets as they can be transferred from wallet to wallet. The transfer process from start to finish usually takes 1-2 weeks.
You may or may not be able to rollover an employer plan like a 401k, 403b, TSP, or 457. If you are eligible, the account will need to be rolled into a Traditional IRA and if you wish, can be converted to a Roth IRA. Converting a Traditional IRA to a Roth will create a one-time taxable event of the amount you convert, so it may not be the right move for everyone. The rollover process usually includes a physical check being sent to you, and you then forward the check to your new custodian, SunWest Trust. The rollover process from start to finish typically takes 2-4 weeks.
Just about anyone can contribute to an IRA on a yearly basis. As far as NEW contributions to IRAs, funds must come in as USD per IRS rules.
If you are over the income limits to contribute to a Roth IRA directly, you can still contribute to a Roth IRA through a conversion process known as a Backdoor Roth IRA.
The contribution process typically takes 1-2 weeks, depending on how funds are sent – Bank wire or check.