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

No, taxable funds cannot be moved into or converted into a tax-deferred IRA account. In order to get the funds into an IRA account, you would first need to liquidate the taxable account, then open an IRA account with one of our approved custodians and fund the account. Note, for IRA accounts, a minimum investment of $5,000 is required in year one and an additional investment of $5,000 must be added in year two.

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