Self-directed IRA and Keough ?... - Posted by HR


#1

Posted by Hugh Bromma on November 18, 1998 at 15:51:28:

Bill is right, there are very few custodial institutions around. You should also be sure that if you invest out of state that the custodian will do that for you. Some won’t. Also if you look at a non-bank trustee, be sure that their capital requirement is met. Under the IRS code non-bank trustees have capital requirements of up to 2% of assets under administration. So if they have say $400 million in assets they must have an $8 million in cap requirement.


#2

Self-directed IRA and Keough ?.. - Posted by HR

Posted by HR on October 28, 1998 at 18:13:59:

How can I find a local business that would help me set-up a self-directed IRA and Keough? There are businesses across the net that will do it, but I would prefer someone in my town. How can I find them? Where would I start looking?

Also, does anyone use them to buy real estate?

Thanks for any imput!


#3

Very few self-directed IRA Custodians - Posted by William L. Exeter

Posted by William L. Exeter on October 28, 1998 at 19:09:01:

Unfortunately, there are very few IRA Custodians that administer self-directed IRAs that allow real estate related investments. You will have a difficult time locating one near you. However, you should make sure that the IRA Custodian is a bank, trust company, securities broker, etc., that is licensed and regulated by a governmental entity, that is well capitalized and has sufficient fidelity bond and errors and omissions insurance coverage to protect your account. Check with your local financial institutions to see if they will administer this type of self-directed IRA and allow real estate related investments. If not, we would love to assist you. Please feel free to contact me at 800/669-0250.

Bill Exeter
Security Trust Company.