LendingClub's preferred IRA custodian is IRA Services Trust Company (ISTC). ISTC charges an annual account fee at initial account funding and then annually on the anniversary of initial account funding.
LendingClub will pay the annual account fee at account funding on your behalf if within the first 12 months you maintain at least $5,500 or more invested in LendingClub Notes (as calculated by the outstanding principal balance of all Notes held in your account). LendingClub will continue to cover this fee for subsequent years, as long as you maintain this minimum amount invested.
All account balances are determined on the last calendar day of the month preceding your anniversary initial funding date (e.g. If you initially fund an account on February 15, account balances will be determined on January 31 of each successive year). An annual account fee applies to accounts that don't meet these requirements. LendingClub reserves the right to modify or discontinue this offer at any time. For more information about ISTC’s fees, please email firstname.lastname@example.org.
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.