If you have a retirement account such as a 401(k) or 403(b) with a previous employer, you can roll over funds in that account to a LendingClub IRA.* Our preferred custodian, Self Directed IRA Services, Inc. (SDIRA) offers a fast and easy rollover service. Here is how to start the process:
1. Provide LendingClub and SDIRA with rollover instructions:
- New LendingClub IRAs: Instructions for completing your 401(k) rollover are included in the registration process and can be found by logging in to your account.
2. Contact your current 401(k) administrator to initiate the rollover process.
3. Keep in mind that your funds must be in cash before they can be rolled over to a LendingClub account.
Funds rolled over from a 401(k) are typically available to invest 2-3 weeks after the original custodian initiates the rollover.
* LendingClub’s preferred IRA custodian is Self Directed IRA Services, Inc. (SDIRA), a subsidiary of Horizon Bank. LendingClub does not provide tax advice and this information is not intended to be investment or tax advice.