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Menu
  • Our Company
  • Self-Directed IRA
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  • Custody & Escrow
  • Cash Management
  • IRA Learning Center
    • Alternative Investments
    • FAQs
    • News and Alerts
  • Forms
Open Account
Client Login
Contact Us
  • Our Company
  • Self-Directed IRA
  • Employer Plan Services
  • Custody & Escrow
  • Cash Management
  • IRA Learning Center
    • Alternative Investments
    • FAQs
    • News and Alerts
  • Forms
Menu
  • Our Company
  • Self-Directed IRA
  • Employer Plan Services
  • Custody & Escrow
  • Cash Management
  • IRA Learning Center
    • Alternative Investments
    • FAQs
    • News and Alerts
  • Forms
8 Oct 2018

Custodian’s Responsibilities

by Sandy Reese | | 0

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