How do I transfer my existing IRA to PTI ProDirect?
IB’s Automated Customer Account Transfer System (ACATS) is the National Securities Clearing Corporation’s (NSCC) central processing system for the transfer of positions and accounts between brokerage firms that are participants of the NSCC’s ACAT program. The NSCC’s ACAT system enables your broker to enter, review, and settle account transfers in a fully automated system. Requests for Automated Transfer of Assets must be sent to the receiving broker. Your PTI ProDirect account must be opened and approved before you begin the ACAT. Under normal circumstances, an ACAT should take between four to eight business days. With some circumstances, such as an attempt to transfer unsettled funds, positions that are not paid in full, or restricted stock shares, this process could take longer. The ACAT feature is available under Account Management. Choose Deposit Instructions from the customer menu. You will be prompted to select the firm and account number at the firm.
