Source
r/Superstonk•
I_DO_ANIMAL_THINGS

You can Computer Share your IRAs without getting taxed.

💡 Education

TLDR: An IRA Transfer is indeed a Taxable event. However, the IRS has exceptions for to the rule. If you're not looking to make a profit and only want to move your shit. The IRS says you're good to go.

https://www.irs.gov/retirement-plans/plan-participant-employee/rollovers-of-retirement-plan-and-ira-distributions

Most pre-retirement payments you receive from a retirement plan or IRA can be “rolled over” by depositing the payment in another retirement plan or IRA within 60 days. You can also have your financial institution or plan directly transfer the payment to another plan or IRA.

60-day rollover – If a distribution from an IRA or a retirement plan is paid directly to you, you can deposit all or a portion of it in an IRA or a retirement plan within 60 days. Taxes will be withheld from a distribution from a retirement plan (see below), so you’ll have to use other funds to roll over the full amount of the distribution.

As long as you get your Shares into a new IRA inside Computer Share within 60 days, you can go right ahead and DRS to Computer Share. Once they arrive in Computer Share, you would then have those shares put into a new IRA with ComputerShare.

I'm not a tax professional. Read for yourself. I'm right tho.

So, how do we open an IRA within ComputerShare?

Posted Oct 21, 2021, 9:37 PM UTC · edited

15328
CookShack67💻 ComputerShared 🦍•

Find a IRA/401K custodian that supports DRS. Camaplan is working for several Apes so far. ETA: ComputerShare does not support IRA or 401K which is why a custodian that supports DRS is necessary. According to CS, GameStop would need to enable the option for IRA/401k to be held in CS.

35
Business_Top5537🦍 Buckle Up 🚀•

I have a 2nd CS account under my new EIN that I set up 3 weeks ago

Holding GME

I have some posts documenting it and others have better posts

❤🧡💛💚💙🚀

21
[deleted]•

[deleted]

1
tinyorangealligator•

Or SSN

1
boolazed💻 ComputerShared 🦍•

long time ago there was a complete DRS tutorial for international ape

in this tutorial, it was mentioned that:

Buying & Selling is possible for international investors.

Apparently GameStop recently switched from DirectStock Plan (DSP) to DirectStock Purchase Plan (DSPP), which now allows Internation investors to buy GameStop directly from CS.

This seems to be a new change after a wonderful ape emailed GameStop Investor Relations! S/O to Extra-Computer6303 !!

maybe we should contact GameStop Investor Relations to see if they can enable the option for IRA/401k to be held in CS.

2
tinyorangealligator•

Please and let us know what happens.

2
boolazed💻 ComputerShared 🦍•

I'm europoor so I don't know much about IRA/401k

However I did a compilation of the most relevant post concerning the subject, here it is:

https://www.reddit.com/r/Superstonk/comments/raheqw/ira_drs_final_megathread/

2
Cajun_Texas1972•

We need to upvote this to oblivion & communicate w GME. I’m an Ape with 2000 shares stuck in an IRA, and have been finding out more about bank custodian to support CS/GME.

16
I_DO_ANIMAL_THINGSOP🎮 Power to the Players 🛑•

Ask for it on Twitter?

6
Business_Top5537🦍 Buckle Up 🚀•

You are close

Custodian is a pretty typical arrangement

Really just need to set up your SDIRA's EIN (10 minutes irs.gov) and you can open the new CS account and transfer the shares. Then set up your custodian and get a tax professionals oversight.

The transfer is easy. CS does not care that it is a custodial managed account. Enter the EIN and off you go.

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Lulu1168💻 ComputerShared 🦍•

What if your IRA work plan does not let you take out unless you quit? I could take the money as a hardship distribution but then I’m taxed.

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Business_Top5537🦍 Buckle Up 🚀•

Hardship is your only option

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Lulu1168💻 ComputerShared 🦍•

Fuk a duck. I knew it.

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digibri💻 ComputerShared 🦍•

My understanding is that ComputerShare is not a full fledged broker or bank and can't manage IRAs to the satisfaction of the IRS.

But that's ok.

The process seems to be (as I understand it so far):- Pick a company that offers Self-Directed IRA Custodial services (They need to be able to handle equities at ComputerShare.) - Contact them and work with them.- You'll need an EIN from the IRS (like a SSN for corporations and also IRAs) - Once you're set up with the Custodian, work with your broker to initiate a transfer

Dropping some links:

DRS IRA Shares - SDIRA (self directed IRA) and IRA Custodian DRS FBO process

SDIRA - Computershare GME Account Successful (repost)

RC's twitter had a clue
(The brown and white backpack on top of the display is "EIN" from Cowboy BeBop)

Due to cross-posting restrictions, I can't direct link to the post in the other sub. The user is: u/6t8fbird and the title of the post is: "An EIN is required for transferring your IRA shares to Computershare. This makes you the custodian of your IRA."

Employer Identification Number (EIN) (investopedia.com)

How to Obtain or Re-Establish an EIN for a Retirement Plan Trust (irs.gov)
(It's free and you can get it yourself on line directly from the IRS.)

Finding a Custodian for a Self-Directed IRA

Best Self-Directed IRA Companies

​

I feel passionately that we absolutely must nail down this process to the "t", up to and including researching numerous SDIRA Custodian companies. Some only specialize in one type of investment, real estate being rather common in that area. If we can empower apes with IRAs to become knowledgeable, confident, and comfortable in this process the resulting tidal wave of DRS action will be unlike anything that has ever been seen before.

​

(I'm sorry I don't have more to offer right now. I have been intending to make a bunch of calls and write a big comprehensive DD but my free time has vanished due to a heavy workload and evening preparations for my wife's upcoming hip surgery. No, I'm not a boomer... my wife is young but she's an ultra-runner and has a small problem. No need to worry on our behalf, we're both fine and dandy!)

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AllCredits💻 ComputerShared 🦍•

Agreed - we need a high quality write-up guide & pinned - tons of whales locked up in IRA jail

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boolazed💻 ComputerShared 🦍•

the OP from the first link you posted deleted his account?? sus

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digibri💻 ComputerShared 🦍•

Well, you're replying to a comment that is a month old, and I expect that link is even older. I can't control what others do with their accounts.

Fortunately, there have been more posts since then:

IRA TRANSFER CONFIRMED!!! Ape 819XXX reporting for duty.

You can Computer Share your IRAs without getting taxed.

DRS account 733XXX -- in an IRA!

DRS for IRAs Update: I'm IN.

DRS my IRA shares? Yes, I believe I did.

IRA DRS issue finally solved?

​

Thank you for bringing to my attention that the other link was dead!

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boolazed💻 ComputerShared 🦍•

haha when I said "sus" it was towards the disappeared OP, not towards you babe

thanks for the links!!

I tried to launch a DRS IRA megathread but it died in new. Maybe tonight / this week-end will be a better timing

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digibri💻 ComputerShared 🦍•

No worries!

Yeah, there's been a lot of push back vs all things DRS related.
But I'm hanging tough and fighting the good fight!

2
Taranis🦍 Buckle Up 🚀•

Not so simple, it appears. Look to self directed IRAs with a custodian if you really want to go this route.

Otherwise, Gamestop has to offer an IRA within their CS plan. They don't, currently. Maybe we can get them to change that?

10
Viking_Undertaker🦍 Buckle Up 🚀•

Commenting for visibility

5
Ratsonlean👉 Wut Doing Hedgies? •

Curious how this would all work with a Roth IRA..

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I_DO_ANIMAL_THINGSOP🎮 Power to the Players 🛑•

Exactly the same.

5
OriginalGoatan💎🙌🦍•

I've seen IRA questions in the AMA due today, so fingers crossed CS have an answer to this today.

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youniversawme🦍 Buckle Up 🚀•

Well well well, it’s a good day. I just received my Roth IRA DRS advice from Computershare, transferred from TDA to Ally, then submitted a letter of instruction. Fairly simple. No stamp, no EIN needed. Still registered as a Roth IRA with Computershare, so that’s good enough for me!!

Wahooo!! Les Goooooo!! 🚀🚀🚀🚀

— will post my process as soon as I verify this is indeed not taxable, but this is good enough for this ape!! CS get ready for the rest of my IRAs!

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I_DO_ANIMAL_THINGSOP🎮 Power to the Players 🛑•

Post the process please!!!

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youniversawme🦍 Buckle Up 🚀•

Just posted the process as completely as I could in the jungle. Not sure how to copy post to multiple subs or if I have enough karma to even post here, and I just don't have time rn to figure it out, but feel free to repost if it looks like I did something right!

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