IRAs through LendingClub are offered in partnership with our preferred custodian, STRATA Trust Co. (STRATA). STRATA charges an annual account fee of $100 at account opening and then annually on the anniversary of account opening. However, LendingClub will pay the $100 annual account fee on your behalf if you meet certain minimum balance requirements:
- In the first year: LendingClub will pay the $100 annual account fee due at account opening on your behalf if your account has an initial minimum balance of $5,000 or more invested in LendingClub Notes and maintains this minimum invested balance for the following 12 months.
- 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.
All account balances are determined as of the last business day immediately prior to the anniversary date of the opening of your account. You will be responsible for the account fee for any accounts that don't 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.