A custodian may only be a bank, federal credit union or an entity approved to act as a custodian. Administrators cannot act as a custodian if they are not one of the abov, and therefore must use a third-party custodian … Continued
The Internal Revenue Code, Section 408, requires that an IRA must have a custodian to hold the assets of the plan and provide annual reports to the account owner and the IRS. A custodian may be a bank, federal credit … Continued
All IRAs — Traditional, Roth, SEP and Simple – are permitted to hold a wide variety of investments beyond stocks, bonds, mutual funds and ETFs. Your financial adviser’s firm may limit investment choices or its compliance department may not accept … Continued
