Self-directed IRAs have been around for a while, and they’ve recently become popular among investors looking to expand beyond stocks, bonds and treasuries.
But a self-directed IRA can end up costing you money if you aren’t careful. The Internal Revenue Service (IRS) regulations require that either a qualified trustee, or custodian, hold the IRA assets on behalf of the IRA owner.
What’s involved in a self-directed IRA?
Millan & Company can assist you with the formation of your business entity, financial management, and compliance and reporting relating to your self-directed IRA. This includes maintaining the assets and all transactions and other records pertaining to them, filing required IRS reports, and issuing client statements. We also help you understand the rules and regulations pertaining to different transactions and will perform accounting and administrative duties on your behalf.
To expand your investment portfolio, we’ll help you make the right choice from a selection of standard asset types such as stocks, bonds, and mutual funds, as well as other types of investments. Contact us to learn more.