Self-Directed IRA Custodian

[Jeremy Anan]

Hello BP,

I need help/recommendation locating a good Self-Directed IRA custodian out there.

Thank you

[Brian Eastman]

@Jeremy Anan

There are a lot of good resources here on BP on the topic.

So you know, there are two types of service providers in the self-directed retirement plan field.

Custodians provide account reporting and processing services, and act for the benefit of your IRA. With such an institution, they hold the funds, sign every document, cut every check and receive every deposit associated with the investments you direct them to make. This works well for assets that are more static in nature such as shares of a privately held company.

Advisors/Facilitators establish self-directed plans that provide checkbook control. This may be an IRA where a custodian held account as described above invests into a specialized LLC where you are the manager, or a Solo 401(k) plan whereby the plan is a trust and you can act as trustee. In either of these structures, you will have signing authority for the plan and operate out of a bank account of your choosing. This eliminates the paperwork, processing delays and per-transaction fees associated with having the 3rd party custodian execute the transactions. For more time-sensitive and interactive assets such as real estate, this is typically a more efficient model.

Providers of both types of services are active here on BP.  Do some reading then get on the phone and speak with some experts.  They can help you identify which solution will work best for your particular situation and goals.