Who actually holds the money and/or assets of my Self-Directed IRA?
Cash, property titles and all other assets of the IRA are held by a trustee or custodian. Unlike a qualified retirement plan, the law requires that the trustee or custodian be a bank, federally insured credit union, savings and loan association, or an entity approved by the IRS to act trustee of custodian. What is a Rollover? If you receive an eligible rollover distribution from your employers qualified pension, profit-sharing or stock bonus plan, annuity plan, or tax-sheltered annuity plan, you may roll over all or part into an IRA. There are three categories of rollovers. A direct rollover from a qualified plan to another qualified plan or an IRA (to avoid 20% withholding). A rollover from a qualified plan to an employee, then redirected to another qualified plan, or IRA (must be accomplished within 60 days). A rollover from one IRA to another IRA or another plan (limited to one per year). What is a Transfer? With a qualified retirement plan, you are limited to transfers only with th
Related Questions
- I don’t have enough money in my IRA to purchase a piece of property outright. Can my Self-Directed Retirement Solutions, LLC get a loan and use my IRA money as the down payment?
- What types of assets can one typically invest into with a self-directed IRA custodian?
- Who actually holds the money and/or assets of my Self-Directed IRA?
