IRA Financial Trust Company is one of the few IRA custodians in the country that specializes in establishing Self-Directed IRA with Checkbook Control accounts.
IRA Financial Trust Company was founded by tax attorneys who worked at some of the largest law form in the world, including White & Case LLP and Dewey and LeBoeuf LLP, and have helped over 12,000 clients self-direct their retirement funds through their ownership in the IRA Financial Group LLC.
IRA Financial Trust Company is a regulated non-banking financial institution that is made up of retirement tax specialists committed to helping you make Self-Directed retirement investments quickly while minimizing annual fees. IRA Financial Trust is a non-banking IRA custodian. IRA Financial Trust has partnered with Northern Trust, one of the most respected private banks in the world, to offer our Self-Directed IRA clients with a safe and secure way to make Self-Directed IRA investments.
The IRA Financial Trust Advantage
- One low annual fee
- No transaction or annual account asset fees
- Our Northern Trust Company relationship
- IRA Financial Group has helped over 12,000 clients establish Self-Directed retirement accounts totaling nearly 4 billion dollars since 2010
- Work with Self-Directed IRA experts
- Experience our Continuing Retirement Education (CRE) Platform
- Invest in what you know and understand from the comfort of a local bank
- Specializing in Checkbook Control Self-Directed IRAs
WHAT ARE THE RESPONSIBILITIES OF THE IRA CUSTODIAN OF YOUR RETIREMENT ACCOUNT?
- Assisting in opening & funding your IRA account
- Making the investment(s) on your behalf
- Making distributions & paying expenses per your request
- Providing you with quarterly statements
- Answering questions about your account and our procedures
- Reporting information required by the IRS and other governmental agencies
- IRS Form 1099R - Distributions from your IRA
- IRS Form 5498 - Contributions to, and Fair Market Value of, your IRA
As a Custodian of Self-Directed accounts, we are not permitted to give investment, legal or tax advice.
A World of Investment Opportunities
With a Self-Directed IRA you can invest in almost any type of investment, including real estate, private business entities, tax liens, and precious metals without tax. A Self-Directed IRA allows you to better diversify your retirement portfolio and invest in what you know and understand.
WHAT ARE PROHIBITED TRANSACTIONS?
The Internal Revenue Code does not describe what a Self-Directed IRA can invest in, only what it cannot invest in. Internal Revenue Code Sections 408 & 4975 prohibits Disqualified Persons from engaging in certain types of transactions. A Prohibited Transaction, which is defined in Internal Revenue Code Section 4975, is any transaction between your retirement account (the Plan) and a “disqualified” person or entity. In general, a “disqualified” person is any lineal ascendant (i.e. parents, grandparents, etc.), descendants (children, grandchildren, etc.), spouse, spouse’s ascendants, descendants or any entity for which a disqualified person has 50% or more ownership.
The following are examples of prohibited transactions:
- Lending money or engaging in some other extension of credit between the retirement account and a disqualified person. For example, you cannot personally guarantee a loan for the purchase of real estate by your retirement account.
- Furnishing goods, services or facilities between the retirement account and a disqualified person. For example, you cannot personally make an improvement to a house or piece of property held by your retirement account.
- Transferring or using by or for the benefit of a disqualified person, the income or assets of a retirement account. For example, you may not use any real estate owned by the retirement account for any personal purpose.
- Dealing with income or assets of a plan by a disqualified person who is a fiduciary acting in his/her own interest or for his/her own account. For example, you should not loan money from your retirement account to a business you own.
- Receiving any consideration for his/her personal account by a disqualified person who is a fiduciary from any party dealing with the plan in connection with a transaction involving the income or assets of the plan. For example, you cannot take a salary for managing real estate owned by your retirement account.
For more information about the prohibited transaction rules, please refer to IRS publication 590.
WHAT ARE YOUR RESPONSIBILITIES AS AN IRA ACCOUNT HOLDER?
- Choosing the investment(s)
- Performing due diligence on the investment(s)
- Understanding the risks related to your investment(s)
- Reviewing the SEC Investor Alert on Self-Directed IRAs and the Risk of Fraud
- Monitoring the investment(s)’ performance
- Understanding Prohibited Transaction rules (see above) and avoiding them
- Ensuring that valuations are provided to IRA Financial Trust for all assets on at least an annual basis
- Understanding IRA Financial Trust Company fees and minimum balance requirement. Please see our FEE SCHEDULE & FINANCIAL DISCLOSURE FORM for more information.
To learn more about the advantages of using the IRA Financial Trust to establish your Self-Directed IRA, please contact a Self-Directed retirement expert at 1-800-472-1043.