Coin IRA

Investing in cryptocurrencies through a Self-Directed Cryptocurrency IRA is similar to investing in other types of alternative assets in a self-directed IRA. Once you establish the type of account you want to open (Traditional, Roth, SEP, SIMPLE), you will decide how your Cryptocurrency IRA will be funded.  You can then transfer funds from an existing IRA, rollover funds from a 401k or other eligible employer-sponsored plan, or make a contribution according to the guidelines set forth by the IRS.  Once your funds are credited to your new Cryptocurrency IRA, you can buy and sell cryptocurrency inside your IRA, taking advantage of all the tax benefits an IRA can offer, shielding your principal and profits from income tax until you take a distribution. The digital assets purchased will be stored by your Cryptocurrency IRA custodian, as required by the IRS.
To be eligible to establish an account on the Coin IRA Cryptocurrency Trading Platform, you must:
  1. Be a US Citizen with a Social Security number.
  2. Have a legal address located within the United States.
  3. Be over the age of 18.
  4. Have a statement or online access to the account(s) you will be funding your new account from.
If you are funding your new Cryptocurrency IRA with a transfer from an existing IRA, please ensure that that the amount you want to transfer from your existing IRA account is already liquidated and sitting in an uninvested cash position and provide us with an account statement or document that shows:
  • The name and phone number of your current custodian from your statement or online access
  • Your name EXACTLY as it appears your account registration (for example Mr. John Smith, Sr. versus Mr. John Smith, III)
  • Your account number and the type of account (e.g., Roth or Traditional IRA)

This ensures the expediency of the funding process.  

If you are funding your new Cryptocurrency IRA with a rollover from a 401k or other employer-sponsored plan, provide an account statement or document that shows:
  • Your plan details and account number
  • The name and phone number of your current plan administrator or trustee from your statement or online access
  • Your name EXACTLY as it appears your account registration (for example Mr. John Smith, Sr. versus Mr. John Smith, III)

With an employer-sponsored plan, there is no need to liquidate assets in advance.

If you are funding your new Cryptocurrency IRA with a contribution, just let us know the amount and the tax year the contribution is for.  Funding instructions will be emailed to you based on your choice of how you want to send the funds.
As you purchase cryptocurrency through the Coin IRA Cryptocurrency Trading Platform for investment purposes, your custodian, Equity Trust, will keep track of each transaction’s details – the type of cryptocurrency purchased or sold, the exact quantity, the price paid, the transaction fees, and the order total.  When you login to the platform, you will see your available balance, current value, transaction history, financial history and much more.   
There are no account fees to open, maintain, or store the cryptocurrency inside your IRA.  The only fees are small transaction fees when you buy or sell cryptocurrency inside your IRA.
The IRS requires the assets in all IRAs be held by a custodian.  Your custodian administers and tracks the assets in your IRA so that you can comply with all IRS rules and regulations and maintain all the tax benefits of your Cryptocurrency IRA.
The IRS currently views Bitcoin, Litecoin, Ethereum, and similar cryptocurrencies as property, allowing them to be purchased and held in a Cryptocurrency IRA. See IRS Notice 2014-21.
Early distributions from any IRA before the age 59 ½ may trigger penalties in addition to any income taxes owed. Always consult a tax professional for advice on rollovers, transfers, contributions and distributions from any retirement account  Coin IRA’s experts are here to answer all of your questions.  Please call or email Coin IRA Customer Support.
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