One of the easiest ways to help your account grow is by making yearly contributions. Putting in a set, allowable amount every year can propel your account forward without the funds ever touching an investment. Of course, doing investments in the account will help you make the most of your self-directed IRA and the compound interest from investments, but remaining diligent with your contributions is always one sure-fire way to know your account is growing each year no matter what.
With half of the calendar year gone, the amount of time you have to contribute for the 2021 tax year is creeping closer than it might feel like! Rather than waiting until the last minute to get your contributions in, decide if it makes sense to send your yearly contributions in now. The last thing you want is to be left scrambling at the last minute, so make sure you’ve done all you can to maximize your accounts for the year and plan accordingly for your yearly contributions.
How Much Can I Contribute to My Self-Directed IRA
Every year, the IRS sets certain limitations on the amount you are able to contribute to your IRA per year and there are specific requirements and rules that must be met in order to contribute to certain account type. Contributions aren’t required, though, so you don’t have to make a deposit every year. If you do choose to maximize your IRA contribution for the year, make sure you’re aware of how much you can put in each account.
Find the amounts below by clicking on the account for more information:
How do I Make a Contribution to My Self-Directed IRA
When preparing to make your contribution, it’s important to remember that all IRA contributions must be made via check, wire transfer, or ACH. Quest Trust Company cannot accept cash or 3rd party services, such as Paypal. We also ask that you always note which tax year the contributions are for.
When sending in your contributions, all funding methods should have the correct vesting (Quest Trust Company FBO [Client Name] IRA [Client Account #]. If you plan to send your contributions electronically, you can find the Delivery Instructions in your Client Portal.
If you prefer to send in a check, you can send those to: 17171 Park Row Drive, Suite #100, Houston Texas 77084
As always, if you have questions, feel free to call in to our office at 281.492.3434 or schedule a consultation with an IRA Specialist HERE.
Can I make a contribution to my self directed IRA without a coupon or form accompanying by check?