Custodial Companies

Not just anyone can hold IRA assets. All IRAs must be held by a custodial entity such as a bank, credit union, trust company or an entity that is licensed and regulated by the IRS as a “non-bank custodian.”

IRS Publication 590 clearly states what those entities are:

“An individual retirement account is a trust or custodial account set up in the United States for the exclusive benefit of you or your beneficiaries. The account is created by a written document. The document must show that the account meets all of the following requirements. The trustee or custodian must be a bank, a federally insured credit union, a savings and loan association, or an entity approved by the IRS to act as trustee or custodian…”

What does this mean to you? When researching a self-directed IRA custodian make sure to ask and receive answers to the following questions:

  • Who are you regulated by, and for how long have you been a regulated custodian?
  • What additional procedures and rules are in place at your company to ensure that you exceed regulatory control?
  • How are you insured or bonded (FDIC, SPIC)?
  • Do you have error-and-omissions insurance?
  • Are you audited? How are you audited and who conducts the audit?
  • When was your last audit completed?
  • Who are your company’s principals and what are their experience level in self-directed investing and the financial world?
  • Can you provide me with some references for your services?

How Can We Help You?

Our team of experienced Self Directed Investment professionals are here to help answer your questions. We have years of experience and have seen nearly every type of account, investment, tax issue, funding method, and question imaginable. Give us a call and let us offer our expertise.