How To Fund Your Account How To Fund Your Account

How To Fund Your Account

Carol Carol

To add funds to your iTrustCapital account, you will begin by:

1. Log into your iTrustCapital dashboard.

2. Once in your dashboard, you will go to the USD section and click the "Add Funds" button.

3. There are three ways to fund your account, a transfer from other IRAs, a rollover from previous employer plans, or a cash contribution.

4. Depending on the method chosen, we will email you the appropriate funding instructions once the process is initiated.

**We are not able to fund these accounts with crypto unless they are coming In-Kind from another Crypto IRA.

Contribution Guidelines for Traditional and Roth IRAs

  • A contribution can only be made in USD per IRS rules.
  • Contribution limits for 2022
    • $6,000 if you are under 50 yrs. old.
    • $7,000 if you are 50 yrs. or older.

Roth IRA Contribution Guidelines for 2022

  • Filing Single, you must have a modified adjusted gross income under $129,000 to make the maximum contribution to a Roth IRA.
  • If you are married filing jointly, your MAGI must be less than $204,000 to make the maximum contribution to a Roth IRA.
    • If eligible, both you and your spouse can open your own Roth IRAs and make the maximum contribution.

SEP IRA Contribution Guidelines for 2022

Employer contribution limits made to an employee's SEP-IRA cannot exceed the lesser of:

  • Approximately 25% of the employee's compensation (based on a formula, please confer with your tax professional)
  • $61,000 for 2022

 

For those with an Inherited IRA account, you may not make annual contributions per IRS guidelines