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What is a Third Party Administrator?
A Third Party Administrator is a company that offers record keeping for Individual Retirement Arrangements. The Internal Revenue Service does not allow an individual to do their own record keeping. It must be done by a third party who keeps track of your Individual Retirement Account and completes all of the required reporting to the IRS in order to keep your money in a tax-deferred status.
Many brokerage houses and banks offer "self-directed" retirement plans. What is a self-directed retirement plan and can my broker do this?
The term "self-directed" means you, the customer, have complete decision making powers on your investments. Unlike a stock, bond, or mutual fund where others either control or manage the investment, you are in total control. In other words, many firms say they offer "self-directed IRAs" but what they really mean is that you choose your investment from a pre-determined list of products they, the broker, offers.
What does IRA Resources do with the cash in my account?
All cash is placed in FDIC insured institutions. IRA Resources works with over 200 banks nationwide, so no matter how much cash is in your account, it is all federally insured.
Do you ever recommend Financial Professionals who do Private Placements?
No, IRA Resources will not recommend product or providers. We strictly do record keeping on behalf of your plan. You must make your own decisions. You approve everything you do relevant to your account. We follow your orders.
I just transferred my account between custodians. Can I transfer my account again this year?
Yes, you can initiate transfers between IRA accounts as many times in one calendar year as you wish. These are called trustee to trustee transfers. The IRS does not place any limits on the number of times you may move your IRA as long as you do not take possession of these funds directly.
How much do you charge to administer my plan?
Our very competitive fee schedule makes us an obvious choice for you as a Third Party Administrator for self-directed IRA. Please refer to our Fee Disclosure for details.
Have more Questions?
Contact us at (888) 322-6534 one of our account specialists will be happy to help you.
Ready to open an account?
IRA Resources, Inc.
6825 La Jolla Blvd La Jolla, CA 92037 |  | Phone: 888 322-6534 Phone: 858 459-1212 Fax: 858 459-6565 |
