No. A regular investment account at Lending Club cannot be converted to a Lending Club retirement account.* An IRA through Lending Club can only be funded with a cash contribution, an IRA transfer, or a 401(k) rollover.**
- If you are opening a new IRA through Lending Club, instructions for funding the IRA can be found by logging in to your account.
- If you have an existing IRA through Lending Club and would like to proceed with a 401(k) rollover, IRA transfer, or contribution, you will need to download, complete, and submit the appropriate form from the Transfer page of your Account. Please note that you must log in to your IRA account to view the Transfer page.
* Lending Club’s preferred IRA custodian is Self Directed IRA Services, Inc. (SDIRA), a subsidiary of Horizon Bank.
** This information is specific to the Lending Club platform and does not relate to a taxpayer’s general ability to convert IRA accounts. Lending Club does not provide tax advice and this information is not intended to be investment or tax advice.