Payment Authorization Letters

If your IRA owns an asset that has expenses related to it, please complete a Payment Authorization Letter (PAL) for each expense your asset requires. New Direction IRA requires a new PAL be filed for each expense in order to ensure the security of your account. We are working on improving the PAL system moving forward and integrating online account technology for easier submission and change requests. Please see the instruction information below. Thank you!

Please send your PAL forms with signatures to us by fax, email or mail.

Download a PAL form: Click Here

Fax: (303)-665-5962

Email: cashmgmt@ndira.com

Mail: New Direction IRA
1070 W Century Dr Ste 101
Louisville, CO 80027

The Following Information is Required:

  • Your name and account #
  • Name of your investment (property address, company, etc.)
  • Type of payment (mortgage, fees, upkeep, etc.)
  • Frequency (as invoiced, yearly, semi-annually, etc.)
  • Your signature and date signed
  • Payee

Frequently Asked Questions:

Q: I think I’ve already sent you a new Payment Authorization Letter, but I’m not sure.  What do I do?
A: Some clients have been contacted within the last month and have updated all of their PALs. If you have been notified in last month AND have returned a new PAL for each expense paid by your IRA, you don’t have to do anything else. If you haven’t responded or you haven’t been contacted yet, please submit a new PAL for each expense your IRA currently pays.

Q: Why do I have to do this?
A:Bank regulations dictate this requirement. We are required by these regulations to have correct, updated forms on file for each client.

Q: What if the amount changes every month?
A: Do not put a dollar amount on the PAL. Mark the AS INVOICED in the frequency box.

Q: Do I have to fill out a PAL for each expense?
A: Yes, but it doesn’t take long.

Q: What if I don’t know my account number/percentage of ownership/property address/property name or if I can’t remember whether I’ve submitted a new PAL?
A: Send an email to clientrelations@ndira.com

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Remember, if the Payment Authorization Letter is not updated, no bills will be paid.