So you’re ready to start a Check Book IRA; you’ve done the research, you’ve found an investment you believe in, you’ve made the decision to take control of your retirement funds. You’re ready to go. But what can you do to help speed the process of setting up a Check Book IRA?

The best way to get the ball rolling besides completing our online application is to make sure that your current account has liquid funds. This means that you have cash easily transferable from your current IRA to the new IRA you will setup.

Some clients have assets they don’t wish to liquidate (certain stocks, property, certificates) and in this case they will do an “in-kind” transfer. This is a 2 step process. However, for most of our clientele, they want their funds transferred over in cold hard cash.

Many times, clients assume that stocks are the same as cash. They aren’t. They must be sold and liquidated into cash. Most cases the cash is not available until three days after the stocks are sold. In order to get your accounts ready to be transferred or rolled over, you will need to contact your current Custodian (or in some cases administrator or investment advisor) to request that your accounts be liquidated.

Remember, your Check Book IRA can be funded in stages.

If you aren’t planning to move over all of your funds, you can still request that a certain amount be liquidated. This will ensure that your funds are ready to be transferred when the new IRA is open.