Can I convert my current investment account to an IRA account?

Though you cannot convert a taxable general investment account into an IRA account, you can open a new IRA using tax-deferred funding. The taxable funds in a general investment account cannot be directly moved into or converted into a tax-deferred IRA account without liquidating the general investment account.

To get the funds from your general investment account into an IRA account, you would first need to liquidate the funds in your taxable general investment account, then open an IRA account with one of our approved custodians and fund the account.

To set up a new IRA account, first sign out of your existing account and create a new Prosper investment account, making sure to select “Prosper IRA” as the account type. You will need to use a different email address than the one linked to your general investment account, since each Prosper account needs a unique email address.