IRA Changes

We're introducing some new changes to how IRA products are displayed on the Carry website, to simplify and streamline the contribution and investing experience.

The type of IRA and custodian that you use to invest through the Carry website varies based on what you are investing in:

• A Traditional IRA and/or a Roth IRA is used for investing in exchange traded funds and stocks; these are further segmented into "Flexible" accounts where you can pick what stocks and ETFs to invest in, and "Automated" Robo-advisor accounts where the entire account balance is automatically invested per an investment questionnaire

• A Self-Directed Traditional IRA and/or a Self Directed Roth IRA is used for investing in certain crypto coins and alternative assets

Because this can lead to up to six different IRA accounts, we're moving to consolidate how these products appear on our website.

It's important to note that no funds are being moved as part of this change; our pricing is not changing, nor are the terms and conditions for any of the products referenced here. We are only reorganizing how the products appear on our website.

As part of this change, you will now see a maximum of two IRA types:

• Traditional IRA

• Roth IRA

When you click into each IRA, you will see an overview of the assets for that IRA type -- for instance, all your Traditional IRA assets.

Under the Investments tab for each IRA type, you'll now find Investment categories on the left hand sidebar, such as:

• Stocks and ETFs - exchange traded funds and stocks

• Robo-advisor - automated portfolio based on an investment questionnaire

• Alternatives - "bring your own deal" for real estate, venture capital, etc. investments

• Crypto - certain major cryptocurrencies

You'll also have a Cash option, which is a centralized place for all dollars moving into or out of the IRA.

If you already have investments in a certain IRA type, you can click into each Investment category to view your holdings, buy or sell, and take other actions. If you want to add a new Investment category, you can use the + Add new investment button at the bottom of the left hand navigation bar.

Each Investment category will have a different licensed custodian who will handle the funds and investments. These are not changing as part of this change; DriveWealth LLC (an SEC registered Broker-Dealer and member FINRA and SIPC) will remain the custodian for Stocks and ETFs, Robo-advisor, and Cash. American Estate & Trust (a Trust Company and Custodian licensed under the banking laws of Nevada) will remain the custodian for Alternatives and Crypto.

You can continue to find a full list of disclosures and account agreements as part of the account opening flow and in your account settings (click the profile icon in the top right -> Documents), as well as your underlying custodian account numbers on the Settings page.

No action is needed by default, but you may be prompted to take certain actions the next time you log in and move funds.

If you do not currently have an IRA open with the custodian DriveWealth LLC, and wish to deposit or withdraw funds, you'll be prompted to open a Cash IRA account with DriveWealth to facilitate Cash transfers. You will now earn a variable yield on Cash held in this account (as opposed to the previous Self Directed IRA accounts, which did not provide you with a yield on cash), and can find the current rate under the Cash option (on app.carry.com click on the IRA you want to view -> Investments tab at the top -> Cash on the left hand side).

If you have any excess cash from a previous Self Directed IRA, it will now appear under the Crypto investment type by default, as "Crypto Cash." You can either leave it there, to invest in Crypto without any deposit or transfer related delays, or you can move it back into the general Cash account to use for other investment types and to take advantage of the variable yield on Cash.

If you have any questions or need help with anything as part of this change, feel free to reach out to us at support@carry.com.