1. Help Center
  2. Investor Support
  3. Opening and Funding Your Alto IRA

How to Fund Your Alto IRA

Our platform supports a number of ways for you to fund your account to get you on your way to investing in alternative assets!

IN THIS ARTICLE

Cash Contribution

IRA Transfer

Rollovers (Direct & 60-Day)

Security Transfer

Frequently Asked Questions

 

 

Cash Contribution

A cash contribution refers to the money that you deposit into an IRA from a personal bank account and is subjected to the annual contribution limit according to the IRS. To learn more about how much cash you can contribute annually to a Traditional, Roth, or SEP IRA, please visit the IRS website here or check with a tax professional. 

You can fund your Alto IRA with a cash contribution right from your Alto dashboard. See how you can initiate a cash contribution with the link to our walkthrough below:

How to Fund Your Alto IRA with Cash Contributions

IRA Transfer

An IRA transfer refers to the money transferring cash from one IRA to another. IRA transfers do not count towards the annual contribution limit like cash contributions would, and there is no limit on how many can be completed in a given tax year.

However, the IRS does restrict what kind of retirement accounts can be transferred to another retirement account. Depending on what kind of IRA you are transferring the money from, that IRA transfer may be subjected to tax-withholding. Visit the IRS website here to learn more about IRA transfers, take a peek at this rollover chart by the IRS,  or check with a tax professional. 

You can fund your Alto IRA with a IRA transfer right from your Alto dashboard. See how you can initiate an IRA transfer with the link to our walkthrough below:

How to Fund Your Alto IRA with IRA Transfers

Rollovers (Direct & 60-Day)

A rollover refers to when you take a distribution from a qualified plan (401k, 403B, etc.) and deposit it into another retirement account. People often rollover their retirement funds from a previous employer's plan to another retirement account. There are two types of rollovers: Direct Rollovers and Indirect Rollovers (60-Day Rollovers)

  • A direct rollover occurs when the custodian of the retirement account you wish to transfer money from  sends a rollover check (or wire) directly to the custodian of another retirement. In this case, taxes will not be withheld from your rollover payment.
  • An indirect rollover, or a 60-day rollover, refers to when you take possession of a distribution from a retirement account to deposit into another retirement account. Once your transferring custodian sends you a rollover check, you have 60 days to deposit these funds into another retirement account. If this isn't completed within 60 days, the rollover amount will be counted as a distribution in the eyes of the IRS, and you will be required to pay taxes on that distribution.

Please visit the IRS website here to learn more about the different rollovers.

You can fund your Alto IRA with a direct or indirect rollover right from your Alto dashboard. See how you can initiate an indirect rollover with the link to our walkthrough below:

How to Fund Your Alto IRA with Rollovers

Security Transfer

A security transfer refers to transferring investments from one retirement account to another.  Security transfers do not count towards the annual contribution limit like cash contributions would. Furthermore, security transfers do not have the same tax implications that IRA transfers or indirect rollovers would. 

Note: Your Alto IRA can only receive non-registered securities, or, securities that aren't available in public markets.  For example, at this time you cannot buy, hold, sell, or transfer AAPL stock on Alto's platform 

You can transfer securities into your Alto account right from your Alto dashboard. See how you can initiate a security transfer with the link to our walkthrough below:

How to Transfer Securities to Your Alto Account

Frequently Asked Questions

How long does it typically take for my Alto account to be funded?

It depends. Here's an estimated timeline of each type of funding method:

Method Timeline
Cash Contribution  ACH: 7 business days
IRA Transfer

Wire: 5 - 10 business days

Check: 10 - 20 business days

Rollovers

Wire: 5-10 business days

Check: 10 -20 business days

 

 

 

 

What kind of information do I need to initiate a direct rollover from my Alto dashboard?

In order to initiate a direct rollover from your Alto dashboard, you'll need the following information handy:

  • The transferring account number
  • A most recent account statement of the transferring account in PDF format
  • A wet signed copy of our Transfer of Assets form.  To complete this operation you'll need access to a printer and scanner, or mobile scanner app.

*Some custodians will require a medallion stamp. Our team will contact you to let you know if a medallion stamp is required. In that case, you'll be provided with a Transfer of Assets form to your bank to acquire a medallion stamp.  Please note, all JP Morgan and Wells Fargo rollovers will require medallion stamps.

Will I be charged a fee when I transfer funds from another retirement account into my Alto account?

Alto does not charge a fee.  Some transferring custodians charge a small fee to transfer funds.  It's up to your transferring custodian if you'll be charged a fee for transferring funds to another retirement account. Please contact their team to learn more about their transfer fees. 

How do I expedite my rollovers?

The best way to expedite a rollover is to have the funds wired to our bank account. You can always contact the transferring custodian if they allow wire transfers, or if there's any other way that you can expedite the fund transfer. 

--

Do you have more questions about how to fund your Alto IRA? Feel free to send us a note to help@altoira.com or use our Contact Us form to reach one of our Client Experience Advocates!