IRAs through Lending Club are offered in partnership with our preferred custodian, Self Directed IRA Services, Inc. (SDIRA). SDIRA charges an annual account fee of $100 at account opening and then annually on the anniversary of account opening. However, Lending Club will pay the $100 annual account fee on your behalf if you meet certain minimum balance requirements:
- In the first year: Lending Club 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 Lending Club Notes and maintains this minimum invested balance for the following 12 months.
- In subsequent years: Lending Club 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 Lending Club 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. Lending Club reserves the right to modify or discontinue this offer at any time. See the SDIRA IRA Fee Schedule for more information.