How do I contribute new funds to my account? – IRA Central

Contributing new funds to your SDIRA is a straightforward process, and it helps increase the cash balance of your account, allowing you to make new investments or handle other activities. A contribution is different from a return of investment or dividend income, which comes from the investments already within your account.

Follow these steps to contribute funds to your SDIRA:

General Instructions for Contributing Funds:

Log in to the Online Portal
- Access your SDIRA account by logging in to the online portal.
Click the "Move Money" Button
- On your Dashboard, look for the Move Money button and click it.
Select "Contribution"
- Choose Contribution as the type of request you want to make.

Choose Your Preferred Funding Method

You have several options to contribute funds to your SDIRA:

1. Incoming ACH Transfer (Simple Bank Transfer)

From your Dashboard, click on Move Money and select Contribution.
Under Type of Transfer, choose ACH.
Choose an already linked bank account, or link a new one by entering your bank details.
Enter the amount you wish to contribute, using only numbers and a decimal.
Select Review to check your transaction details.
Review your information, noting that ACH transactions cannot be canceled once submitted.
Click Transfer to complete the transaction.
Your funds will be sent to your IRA.

2. Incoming Wire Transfer

Go to your Dashboard and select Move Money, then choose Contribution.
Under Type of Transfer, select Wire.
Provide the wire transfer details displayed on the page to your bank or financial institution.
Upload a completed Contribution Form to your Documents tab. (Ensure it’s labeled as a Contribution Form.)
Once the wire transfer is initiated by your provider, the funds will be deposited into your IRA.

3. Incoming Paper Check

From your Dashboard, click on Move Money, then choose Contribution.
Under Type of Transfer, select Check.
Follow the instructions provided to mail a paper check to AET.
Upload a completed Contribution Form to your Documents tab, or send the form along with the check in the mail.
Once the check is received, the funds will be deposited into your IRA.

Important Notes:

Contribution Form: For contributions made via check or wire transfer, you must include a completed Contribution Form. This form should specify the contribution year and amount and must be signed and dated.
Uploading the Form: You can upload the Contribution Form directly to your Documents tab in the online portal. If you are sending a paper check or wire transfer, you may mail the original form along with the contribution.
Processing Time: ACH transfers are generally quicker than wire transfers or checks. Wire transfers and checks may take longer to process, so plan accordingly.

What’s the Difference Between Contributions and Other Deposits?

Contributions refer to new funds you deposit into your IRA to increase the cash balance. These funds can be used for investments or other activities.
Other deposits (e.g., returns from investments or dividend income) come from assets already held within the IRA. These do not require the same steps as making a contribution.

If you have any questions or need help submitting a contribution, feel free to contact AET Support. Our team is here to guide you through the process!