Are IRAs available to hold CDs?
Yes, CDs can be held in an IRA account. FISN can establish IRAs for its clients as long as the minimum investment amounts per transaction are met. FISN only accepts IRA accounts at the FISN broker dealer, First Internet Securities Network. Typically we are asked to transfer funds from an existing IRA to a FISN IRA. Or, we are asked to accept funds from a 401k plan or a pension plan into an IRA rollover. In either case, you need to complete an IRA application that, among other things, determines the beneficiaries. Next, we will need you to sign a transfer form and supply a current statement from the existing IRA administrator. IRS rules dictate that trades can not be accepted in an IRA until the transfer is completed.
