How do I submit a Bill Pay request?

Bill Pay allows you to make payments to vendors for expenses related to your Self-Directed IRA (SDIRA) assets, such as property taxes, insurance, and other approved costs. To use this service, you must submit a Bill Pay request through the online portal.

Below are the steps for submitting a Bill Pay request based on whether you're paying a new vendor or an existing vendor.

Submitting a Bill Pay Request for a New Vendor

Step 1: Prepare Your Documents

Before submitting a request, ensure you have the required documentation ready:

• Invoice or Bill – A scanned copy of the invoice or bill must be uploaded with your request.
• Correct IRA Titling – The invoice should include:
  "<Client Name> Legal Owner Via Non-Trust Custodial IRA with AET"
• Asset ID Number and Property Address (if applicable).
• Due Date – Ensure the payment is not past due and circle the due date.
• Amount – The amount on the invoice must match your request. Circle the amount for clarity.

Step 2: Log Into Your Online Portal

• Navigate to the Bill Pay section on the left-hand menu.

Step 3: Create a New Vendor Payment

• Click "Pay Vendor."
• Select "New Vendor."

Step 4: Enter Payment Details

• Description: Provide relevant details about the payment (e.g., “Property tax payment for Asset ID#”).
• Vendor Name: Enter the full name of the vendor you are paying.
• Describe Your Investment: Include the Asset ID# if applicable.

Step 5: Transfer Details

• Transfer Amount: Enter the total amount as stated on the invoice. (Use numerals and decimal only; no $ sign or comma.)
• Method of Transfer: Choose between WIRE or CHECK.
  • If paying by CHECK, specify the carrier and handling notes.

Step 6: Upload Supporting Documents

• Description: Enter a brief description (e.g., “Invoice for property taxes”).
• Choose File: Upload the scanned invoice or bill.

Step 7: Review and Submit

• Click "Review" to ensure all details are correct.
• Click "Submit" to finalize the request.

Submitting a Bill Pay Request for an Existing Vendor

Once a vendor has been added to Bill Pay, you can submit future payments without re-entering their details.

Step 1: Log Into Your Online Portal

• Navigate to the Bill Pay section on the left-hand menu.

Step 2: Select an Existing Vendor

• Choose the correct vendor from the displayed list.
• Click the dot on the left side of the vendor’s name to select them.

Step 3: Enter Payment Details

• Click "Pay This Vendor."
• Payment Amount: Enter the payment amount from the invoice. (Use numerals and decimal only; no $ sign or comma.)

Step 4: Review and Submit

• Click "Review" to ensure all information is correct.
• Click "Submit" to finalize the payment.

Processing Time

• New Bill Pay requests are typically reviewed and processed within 3-5 business days.
• You can check the status of your request through the portal.

Important Notes

• Once a vendor is added to Bill Pay, their information cannot be changed. This includes the funding type. If any updates are needed to the vendor or funding method, the existing vendor entry must be deleted and resubmitted.
• Any vendor that you wish to add to Bill Pay must be originally submitted via the Bill Pay tab by selecting the New Payment button.

By following these steps, you can efficiently submit and manage payments for your SDIRA assets. If you have any questions, contact our team for assistance.