Experience with Nonbank Trustees and Custodians?

ParkwayInc · ‎December 19, 2017

Recently one of our clients has presented a question to us about nonbank trustees and custodians and I am very unfamiliar with the topic. Does anyone in the community have experience as a Nonbank trustee or custodian that could help provide some guidance? This is related to self-directed IRA's and other investment activities.

Any knowledge would be greatly appreciated!!

WillowOlder · ‎December 19, 2017

Hi @ParkwayInc. I wonder if @Anonymous or @LisaNullar might have some insights or be able to point you to a great source of info?

Anonymous · ‎December 20, 2017

Ooooh.

I'm sorry to say that's as much of a mystery to me as it may be feeling like to you!

Staying tuned for some good insights...

*kristen

Sangeethmathew · ‎January 02, 2018

Hi,

In answer to your question -

Non Bank Trustee or Custodian is a -

Non Bank or Non Insurance Company. It is a recognised financial enitiy. It acts as a Custodian for Tax Exempt Retirement and Savings Accounts.

Also maybe this may be of help -

https://www.irs.gov/retirement-plans/approved-nonbank-trustees-and-custodians

Hope it helped.

Topics

Training

Community

Resources

Experience with Nonbank Trustees and Custodians?