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Step Four: Your Custodian Processes Your Investment
Once all required documentation is received, Equity Trust will process your Direction of Investment form and send funds from your IRA, per your instructions, to purchase the investment.
It typically takes three to five days to process a Direction of Investment form. However, you can request expedited processing and have it completed the same day, assuming the paperwork is in good order, there are no corrections, and all time sensitive deadlines are met.
After the purchase and closing is final, your IRA owns the asset. You must ensure all final documentation is recorded and sent to Equity Trust to settle the asset. For safekeeping, Equity Trust will retain all documents you provide pertaining to the investment (such as real estate deeds, original notes, operating agreements for LLCs, etc.). It is your responsibility to locate and provide these documents to Equity Trust and to retain copies for your own recordkeeping purposes.
Now that your IRA owns the asset, Step 5 will discuss the flow of income and expenses within your account and the process for managing your IRA investment, which ensures the tax advantages of your invested funds remain.