How to Make a Contribution to Your SDIRA
This video will show you how to make a contribution on the Entrust Client Portal.
In this written guide, we'll walk you through the process of making a contribution to your SDIRA at The Entrust Group.
Before you start, ensure you're eligible to contribute this tax year. If unsure, refer to the annual contribution limits or consult with a certified public accountant (CPA).
Step 1: Sending Funds to Entrust
Your first step in making a contribution is to arrange for the funds to be sent to The Entrust Group. This can be achieved through a check, ACH, or wire transfer.
Here's how to proceed:
For ACH or Wire Transfers:
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- Download Delivery Instructions: After logging in to the Entrust Client Portal, scroll down to the “Quick Links” section and select “Delivery Instructions” found in the bottom right corner. This page contains all necessary information for initiating an ACH or wire transfer from your bank.
- Use Your Bank’s App or Online Services: Utilize your bank’s app or online services to send the funds. If you’re unsure about the process, contact your bank directly for instructions. Some banks may require you to visit a branch in person.
For Check:
1. Prepare a Check: Make the check payable to The Entrust Group. Include your SDIRA’s account number and the contribution year in the memo section.
Step 2: Submitting a Contribution Request
After arranging for the funds to be sent, you'll need to notify Entrust of your contribution by submitting a contribution request through the Entrust Client Portal. Follow these steps:
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- Select the Account: Navigate to the “Quick Links” section and click on “Fund Account.” Choose the account you’re contributing to. Select “Contribution” and then click “Next.”
- Specify Contribution Details: Select the tax year for which the contribution is being made. Enter the contribution amount and indicate the method of fund delivery (ACH, check, or wire). Input the sender’s name, which will usually be your name.
- Submit the Request: Click “Submit” to complete your contribution request.
Confirmation and Deposit
Once we have received your funds, they will be linked to your submitted contribution request and deposited into your IRA account. You'll receive confirmation of the transaction, completing the contribution process.
