LendingClub's preferred IRA custodian is IRA Services Trust Company (ISTC). While ISTC charges an annual account fee of $40, LendingClub will pay the annual account fee on your behalf if within the first 12 months you maintain a balance of $5,500 or more invested in LendingClub Notes. As long as you maintain the $5,500 account balance requirement, LendingClub will continue to waive the annual account fee in subsequent years. ted.
All account balances are determined on the last calendar day of the month preceding the anniversary date of you opening your account. An annual account fee applies to accounts that don't meet the aforementioned minimum account balance requirements. LendingClub reserves the right to modify or discontinue this fee waiver at any time. For more information about ISTC's fees, please email email@example.com.
If your account is custodied with STRATA Trust Company (STRATA) you are subject to an annual account fee of $100. However, LendingClub will pay the $100 annual fee on your behalf if you meet certain minimum balance requirements:
- In the first year: LendingClub will pay the $100 annual account fee if your account has a minimum balance of $5,000 or more invested in LendingClub Notes.
- In subsequent years: LendingClub will pay the $100 annual account fee on your behalf each year that your account maintains a minimum invested balance of $10,000 or more invested in LendingClub Notes.
We confirm your eligibility to have the fee covered based on your account balance as of the last business day prior to your account’s anniversary date each year. You will be responsible for the account fee for any accounts that do not meet the above requirements. LendingClub reserves the right to modify or discontinue this offer at any time. See the STRATA IRA Fee Schedule for more information.