M2 Trust Services LLC is a passive custodian for investor-directed individual retirement accounts. M2 Trust specializes in the custody and administration of non-publicly traded, Alternative Investments. As a passive custodian M2 Trust does give tax, legal or investment advice and does not sell, endorse or promote any investment strategy or product.
M2 Trust’s duties as a passive custodian for self-directed investors include the following:
- Processes applications to establish IRAs
- Maintains IRA agreements and forms subject to the Rules and Regulations of the IRS
- Implements and follows an Anti-Money Laundering (AML) program
- Implements policies and procedures to comply with the Bank Secrecy Act (BSA), US Patriot Act, FinCEN, OFAC and ATF laws and regulations
- Implements technology and procedures to protect the privacy of IRA account owner data
- Executes account owner’s Investment Directives by sending funds from the IRA to client-chosen investments
- Gathers, executes and custodies investment documentation, inExcluding subscription agreements, purchase agreements, promissory notes, precious metals dealer invoices and other evidences of ownership
- Receives and records income from the assets held in the IRA
- Process asset expense payments as directed by the IRA owner
- Executes account owner’s Investment Directives to liquidate investments and receives and deposits proceeds from the sale in to the IRA account
- Processes distribution requests
- Processes account or asset transfers as directed by the IRA account owner
- Issues Tax Forms 1099-R and 5498 as required by the IRS
- May assist with filing Tax Form 990-T
- Provides quarterly and annual account statements to the IRA account owner and the IRS, as required by law
- Complies with all State and Federal Regulations governing IRA custodians