Can I make changes to existing Bill Pay vendors information?

Once a vendor has been added to Bill Pay, their information cannot be changed. This policy ensures the accuracy and security of payments made from your Self-Directed IRA (SDIRA). If any details related to a vendor—such as their name, address, or payment instructions—have changed, you will need to delete the existing vendor entry and submit a new request with the updated information.

Below are the steps you should take if a vendor’s information has changed.

Steps to Update Vendor Information in Bill Pay

Step 1: Delete the Existing Vendor Entry

1. Log into your online portal.
2. Navigate to the Bill Pay section.
3. Locate the vendor whose information has changed.
4. Select the vendor and choose the option to delete them from Bill Pay.

Step 2: Submit a New Bill Pay Request for the Vendor

Since changes cannot be made to an existing vendor, you must create a new vendor entry with the correct information.

1. Click "Pay Vendor."
2. Select "New Vendor."
3. Enter the updated vendor name, payment details, and description of the expense.
4. Upload a copy of the invoice or bill with the correct vendor information.
5. Choose the payment method (Wire or Check) and provide any necessary handling instructions.
6. Review all details and click "Submit."

Once submitted, the new vendor entry will go through the standard review process before being added to Bill Pay.

Key Reminders

• Edits to vendor information are not allowed after a vendor has been added to Bill Pay. You cannot make any changes to the vendor address, payment type, or vendor name. Any change to the information will require that a new Bill Pay entry be created. 
• Deleting and resubmitting the vendor entry is the only way to update vendor details.
• Ensure that all vendor information is accurate before submitting a new request to avoid delays in processing payments.

If you have any questions or need assistance with updating a vendor, our team is available to help.