IRA Step-by-Step General Guide

You have heard about self-directed IRAs, but you have questions about the process. This page will take you through the process step-by-step to help you better understand how your account can acquire the assets that you want it to hold.

IRA Guide Step 1

Step 1: Open an Account

The first step is to complete an application. Select from Traditional IRA, Roth IRA, SIMPLE, SEP, Individual(k), HSA or Coverdell ESA.

 

 

 

IRA Guide Step 2

Step 2: Fund the Account

The second step is to fund your account. Make a contribution and/or transfer or rollover funds from existing IRA or 401(k).

 

 

 

IRA Guide Step 3

Step 3: Select and Purchase the Investment

The third step is to select and purchase an investment. You research and choose your own asset from a wider range of investment possibilities, including real estate, precious metals, notes, private placements, stocks and more.

 

 

 

IRA Guide Step 4

Step 4: IRA Owns the Asset

Under your direction, New Direction will pay bills and expenses out of your IRA.

 

*This flowchart is an overview of the process. Do NOT attempt to purchase any investment prior to communicating with our transaction department as paperwork mistakes could lead to substantial taxes and penalties and may not be possible to correct.