An IRA rollover is the process of moving funds from one retirement account, such as a 401(k), into an IRA. This is often done to consolidate retirement savings, access more investment options, or simplify financial management.
There are two types of rollovers:
Direct Rollover: Funds are transferred directly from one financial institution to another.
Indirect Rollover: You receive the funds and must redeposit them into your IRA within 60 days to avoid taxes and penalties.
What are the benefits of rolling over my IRA to Crypto.com?
Rolling over your IRA to Crypto.com lets you manage all your IRAs in one place and provides additional benefits:
Receive an uncapped 1-2% match reward, paid instantly once your rollover is complete
Easily add crypto, stocks, and ETFs to your IRA portfolio and trade with no account fees
Earn up to 10% yield through crypto staking and stock lending to accelerate your IRA growth
What is the rollover match?
The rollover match is an uncapped 1-2% reward applied to your rollover amount, paid in USD. This match applies to both direct and indirect rollovers. You’ll receive the full reward in your IRAs once the rollover is complete.
How do I make a direct rollover?
On the Crypto.com App home screen, tap IRAs from the main menu
Tap Deposit > Roll over employer plan
Follow the on-screen instructions to initiate a direct rollover (also shown below)
Step 1: Contact your employer plan provider | Notify your employer-sponsored plan provider that you want to initiate a direct rollover to an IRA. If you’re unsure who the provider is, check your emails or statements. |
Step 2: Provide check details to the employer plan provider | Tell your employer plan provider to make the check payable to:
Apex Clearing FBO [your full name], [type] IRA
Make sure your Crypto.com IRAs number is in the memo section, along with “Direct Rollover” as the contribution type. |
Step 3: Mail the check to us
| Mail the check to this address (standard and overnight delivery):
Apex Fintech Solutions Attn: Banking Department 350 N. Saint Paul St. STE 1300 Dallas, TX 75201 - 4229
You’ll receive an email notification once your check has been received and processed. |
Please get in touch with our Customer Support team in the app to assist you with the process.
What is an indirect rollover?
An indirect rollover occurs when you withdraw funds from a retirement account, such as a 401(k), and then deposit them into another qualified retirement account, like an IRA.
You temporarily take possession of the funds and must redeposit the full amount within 60 days to avoid taxes and penalties. You are limited to only one indirect rollover within a 12-month period.
How do I make an indirect rollover?
On the Crypto.com App home screen, tap IRAs from the main menu
Tap Deposit > Cash contribution
Tap the switcher on top to change from “New contribution” to “Indirect rollover”
Enter the amount
Follow the on-screen instructions to confirm your transaction
Please note that USD Account is the only funding method for an Indirect Rollover. Instant Deposit is not available for Indirect Rollover.
What are the tax consequences for a rollover?
The tax consequences are as follows:
Direct Rollover
Funds move directly from one retirement account to another, without you taking possession of the money
There are usually no immediate tax consequences and your savings maintain their tax-deferred status
Indirect Rollover
You receive the funds before depositing them into your new IRA
You must redeposit the full amount within 60 days to avoid taxes and penalties
There may be a mandatory 20% federal withholding tax on the original distribution
If you don’t redeposit the total amount (including the withheld portion) within 60 days, the shortfall may be taxed and could incur early withdrawal penalties if you’re under age 59½
To avoid taxes and penalties, make sure you redeposit the entire withdrawn amount, including any withheld funds, within the IRS 60-day window
You are limited to only one indirect rollover within a 12-month period
If you have any questions, please contact our Customer Support team anytime on the Crypto.com App menu > Support > Contact Support. Our IRA Customer Support live chat team is there on Monday to Friday 8am - 6pm ET.