Payment Authorization Letter
Use form to make a payment from and on behalf of your IRA.
Print and Mail
FREQUENTLY ASKED QUESTIONS
How do I pay for expenses on assets I own within my IRA?
You will need to submit a completed and executed Payment Authorization Letter (PAL) and invoice to Vantage. You can send us the documentation electronically, by fax or mail. You can download to print or use electronic versions of all our forms at www.VantageIRAs.com under the Forms page.
Are there fees associated with paying expenses from my IRA?
There is a $5 fee if you instructed Vantage to pay the invoice by check or ACH, a $30 fee if being sent by wire or a $50 fee is paid by Cashier’s Check.
How long will it take to process expense payments from my IRA?
Once Vantage has received the Payment Authorization Letter and invoice is in good order, your request will be completed within 72 hours. You can expect to receive an email confirmation once your request has been processed.
Can I set up automatic payments for recurring expenses from my IRA?
Yes, on the Payment Authorization Letter you can indicate your payment details and frequency.
What if I don’t have enough funds in my account to pay an expense?
You will be notified that there are not enough funds in the account to pay your bill. Once funds are available in the account, your request will be completed within 72 hours.
My spouse and I have shared ownership (40% / 60% split) of an asset within our IRA, can we use one Payment Authorization Letter to authorize an expense?
No, Vantage must receive direction from each IRA holder in proportion to the percentage of ownership.