While your AltoIRA gives you unprecedented freedom to use your tax-advantaged savings to invest in what you want, there are still certain restrictions that apply to all IRA investments. The IRS determines some of these restrictions, while the Issuer of an Offering can implement other restrictions often related to whether or not the Offering is open to non-accredited investors.
We know this can be both complicated and frustrating, so we've built Alto to help you determine whether or not you qualify to make the investment you're interested in.
So, let's check on that investment!
1. After you've created your account, click on the green Check box next to Step 1.
2. Next, you'll specify what you'd like to invest in and click Next. From here, the questions will differ depending on the type of investment you're trying to make. We’re going to choose A Company or Fund in this example, but the platform will walk you through the questions pertaining to your specific investment.
3. On the next screen, you'll verify that the company you'd like to invest in is one of the options eligible for IRA investment. Once you've selected Yes/No, click Next.
4. As you may remember from the beginning of this walkthrough, certain Offerings are only open to accredited investors. Neither the IRS nor Alto imposes this requirement; the Issuer of an Offering makes this determination.
Select the option that best describes you and click Next.
5. The IRS places certain restrictions on the involvement your family members can have in an investment held by your IRA. Depending on your answer to the below question, Alto will walk you through the proper question flow. For this walkthrough, we’ll select No and click Next.
6. And that's a wrap! From here, the platform will bring you back to your Dashboard, where you can begin setting up your new Alto account!