Submit a Recurring Payment Authorization Letter

Many alternative assets that can be held in a self-directed IRA (SDIRA) require regular expenses to be paid, such as property taxes, maintenance fees, or insurance premiums, among others.

A recurring payment authorization letter (PAL) is a formal document that instructs Entrust to make regular, automated payments from the account to satisfy these expenses. 

In this guide, we will walk you through the steps to submit a recurring payment authorization letter using the Entrust Client Portal.

1. Access the Authorization Letter: After logging in to the Entrust Client Portal, click on the orange "I Want To” button. Under the “Asset Maintenance” section, select "Submit Recurring Payment Authorization Letter (PAL)." Click on "New Payment" to begin the process.
   
   
2. Select Your Account and Asset: Choose the account you would like to make the payment from. Select the asset associated with the payment.
   
   
3. Set Up the Payment Details
   1. 1. Payment Frequency: Choose whether the payment will be made monthly or quarterly. Please note that the recurring payment must be for the same amount each time; if the payment amount varies, a recurring payment cannot be set up.
      2. Start Date and Expiration Date: Enter the date you want the first payment to be made and the date the recurring payments should end.
      3. Payment Type: Specify the type of payment.
      4. Total Invoice Amount: Enter the total amount to be paid.
      5. IRA Ownership Percentage: Enter the percentage of the property owned by your IRA. In most cases, this will be 100%. However, some clients only partially own a property (e.g. 50%) with their IRA.
      6. Processing Instructions: If you have any specific instructions for the payment, you can enter them in the designated field. If not, leave it blank.
         
         
      
      
      
4. Enter Delivery Instructions
   1. 1. Payee Information: Provide the information of the person or entity receiving the payment, including name and address.
      2. Choose Your Payment Method: Keep in mind that certain payment methods may require additional fees.
         1. 1. Wire: $30 fee
            2. ACH: Free
            3. Check: $10 fee
            4. Cashier's Check: $30 fee
               
               
5. Upload Supporting Documents: Upload supporting documents that demonstrate the necessity for the payment, such as invoices, property tax bills, utility bills, etc.
   
   
6. Review and Submit: View a breakdown of the payment authorization and any additional fees. Select how you would like to pay these fees, whether credit card or IRA balance. Read the Disclosure section carefully. Ensure all information is correct, click the checkbox to confirm, and then click "Submit."
   
   

What Happens Next?

• Entrust will review your recurring payment authorization letter within one to three business days. 
• If everything is in order, the payment will be processed, and you will receive an automated confirmation email.
  
  

By following these steps, you can easily set up recurring payments through the Entrust Client Portal.