Digital Asset Investments
Fee Disclosure
1. ACCOUNT ESTABLISHMENT AND MAINTENANCE
IRA Deposit Fee: A deposit fee is applied to all incoming cash and/or digital asset deposits into your account. This fee is calculated as a percentage of the incoming deposit amount and covers the costs associated with processing and securing these funds within your self-directed IRA. This fee is automatically deducted from the deposit at the time it is received.
Maintenance Fee: Your account incurs an ongoing monthly maintenance fee, which is calculated as a percentage of your account’s total value. This fee is billed monthly and ensures the continuous management, security, and administration of your account. It covers essential services such as platform access for trading, cybersecurity measures to protect your digital assets, and routine account administration tasks, including regulatory compliance and customer support.
2. TRANSACTION FEES
Trading Fees: Each time you buy, sell, or exchange digital assets within your account, a trading fee is applied. This fee is a percentage of the total transaction amount and is automatically deducted from your account at the time of the transaction. The trading fee covers the costs associated with executing your trades, including the use of the trading platform, blockchain transaction fees, and other associated costs to ensure timely and secure processing of your transactions. Trading Fees also include various third-party fees, including liquidity provider fees.
Liquidity Provider Fees: Bitcoin IRA may charge additional fees associated with the liquidity providers used to facilitate the purchase or sale of digital assets within your IRA. These fees are included in the total transaction cost and are necessary to facilitate the purchase or sale of digital assets. These fees can vary depending on market conditions and the specific liquidity provider used. They are deducted at the time of each transaction and may include spread, commissions, or profits.
Platform Access Fees: A platform access fee may apply for using the Cryptocurrency (Digital Asset) Platform, which provides tools and interfaces for trading and managing digital assets. This fee may be charged as a percentage of the transaction or as a flat rate, depending on the services utilized.
3. DISTRIBUTIONS, ROLLOVERS, AND TRANSFERS
In-Kind Distributions: If you choose to take an in-kind distribution from your account, where digital assets are transferred directly to you rather than being liquidated for cash, a fee is applied. This fee covers the administrative costs of transferring the ownership of these digital assets from the account to your personal control. In-kind distributions are subject to IRS regulations, including potential taxes and penalties, which should be considered before requesting a distribution.
Cash Distributions: A fee will be charged for cash distributions from your IRA. These fees are essential to cover the costs associated with processing your distribution request, ensuring that it complies with IRS rules and is executed in a timely manner. Distributions are subject to IRS regulations, including potential taxes and penalties, which should be considered before requesting a distribution.
IRA Rollovers and Transfers: If you decide to roll over your IRA to another custodian or transfer assets to another IRA account, applicable fees will be charged. These fees cover the processing of the rollover or transfer, including the re-registration of assets under the new custodian’s name. Rollovers and transfers must comply with IRS rules to avoid taxes and penalties. If you are considering a rollover or transfer, it’s important to ensure that all fees are paid to avoid any delays in the processing of your request.
Account Termination Fees: An account termination fee is charged if you choose to close your account or if it is terminated due to insufficient funds or inactivity. This fee covers the administrative costs associated with closing your account, including the preparation of final statements, processing final distributions, and any necessary reporting to the IRS. If the account has outstanding fees at the time of termination, these will be deducted from the remaining balance before distribution.
4. MISCELLANEOUS FEES
Outgoing Funds Fees: Outgoing funds, whether domestic or international, are subject to fees. These fees are outlined in the fee schedule and vary depending on the destination of the transfer. These fees are deducted from your account at the time the funds transfer is processed.
Returned Check and Stop Payment Fees: If a check is returned due to insufficient funds, or if you request a stop payment, applicable fees will be charged to cover the costs incurred by Digital Trust. These fees are intended to cover the costs associated with the processing of such requests.
5. PAYMENT OF FEES
Payment Methods: Wallet fees, distributions, rollovers, account closure, and similar services may be paid using either available cash or digital assets in your account or a credit card. Deposit fees and other costs associated with digital assets held within the account, such as transaction fees and other asset-specific fees, must be paid using available cash in the account. If there is insufficient cash in the account to cover these fees, and if applicable, clients may need to contribute to ensure sufficient funds are available.
Payment: Payment is due upon receipt of the invoice and must be made promptly to avoid late fees. If you choose to pay fees using a credit card, please note that declined charges will result in additional fees, and a new payment method must be provided immediately.
Asset Liquidation for Fee Payment: If your account does not have sufficient cash to cover owed fees, Digital Trust may liquidate assets within your account to cover these fees. You will be notified of the liquidation, and any adverse tax consequences arising from the sale of assets are your responsibility. It is advisable to maintain sufficient liquidity in your account to cover all anticipated fees to avoid forced liquidation.
Owed Fees and Collections: Should any fees remain unpaid after the due date, they will be considered owed fees. Digital Trust will issue a Past Due Notice if fees are not paid on time, and a late fee will be assessed. If owed fees continue to be unpaid, the Custodian reserves the right to initiate collection procedures, which may include liquidating sufficient assets within your account to cover the unpaid amounts plus one year’s estimated fees. The Custodian will notify you of any liquidation, and any remaining funds after fees are settled will be credited back to your account. Persistent non-payment may result in account closure, and the distribution of assets may trigger tax liabilities.
Late Payment and Collection Fees: If any fees are not paid by their due date, a late payment fee will be imposed. Additionally, if owed fees remain unpaid after repeated notices, the Custodian reserves the right to initiate collection procedures. This may include liquidating sufficient assets in your account to cover the outstanding amount plus one year’s estimated fees. Should liquidation occur, you will be notified, and any remaining balance after fee settlement will be credited back to your account.
6. ADJUSTMENT TO IRA FEES
Right to Adjust Fees: Both BitcoinIRA and Digital Trust reserve the right to adjust their respective fees. Any changes to fees that may negatively impact you, such as fee increases or the introduction of new fees, will be communicated at least 30 days in advance. Notification will be provided via email or through our website. It is your responsibility to review these adjustments and ensure that your account is adequately funded to cover any new or adjusted fees. Staying informed of these changes is essential to managing your account effectively.
Referrals: BitcoinIRA may pay referral fees to third parties for referring clients to our services. These referral fees are designed to compensate the referring party for introducing clients to Digital Trust. The referral fee is typically a percentage of the fees generated from the referred client’s initial deposit.
6. QUESTIONS OR COMMENTS
BCI welcomes questions and comments regarding this Policy. For inquiries, please contact us at:
7336 W. Post Road, Suite 111
Las Vegas, NV 89113
877-936-7175
info@bitcoinira .com
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