What is an outstanding balance for my IRAs?
An outstanding balance means your IRA Cash Account has a negative balance. You will typically see this if a Match Reversal Fee is applied and exceeds your available cash. This is commonly caused when:
You transfer funds out: Moving funds out of your IRAs triggers a reversal of your Match Reward.
You downgrade your tier: If you downgrade your Level Up plan within one year of receiving a Match Reward, the resulting fee may exceed your cash balance.
What happens if you have an IRA outstanding balance?
You will receive email and push notifications informing you of the negative balance and your deadline to resolve it. To prevent the balance from growing, certain services will be restricted. You will be unable to:
Buy crypto or stocks
Make withdrawals
Perform Roth/Traditional conversions
However, you can still sell assets or make contributions to repay the balance.
How do you resolve an outstanding balance?
To restore your account to good standing, you must bring your balance back to zero or above. You can take one of the following actions:
Make a Contribution: Deposit USD into your IRAs (note that this is subject to your annual contribution limits)
Sell Assets: Sell a portion of the crypto or stocks already in your IRAs to generate the necessary cash
What happens if you do not resolve your outstanding balance?
If you do not resolve the balance within 24 hours of the initial notification (push notification and email notification), we will initiate liquidation. This means we will automatically sell a portion of your assets to settle the debt and bring your balance back to zero.
How does liquidation work?
If we need to liquidate your assets, we only sell the amount necessary to recover the outstanding balance. You should be aware of the order in which your assets are sold:
USD stablecoins (by market cap)
Crypto Assets (by market cap)
Stock Assets (by market cap)
Once your balance is settled, your full account functionality will be restored. You will receive a notification confirming which assets were sold.
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.