Selecting the right custodian for your self-directed IRA (SDIRA) is a critical step toward achieving your long-term retirement goals. A custodian holds your IRA account assets and ensures that your account remains in compliance with IRS rules and reporting requirements. For those looking to invest beyond traditional asset classes like mutual funds or savings accounts, choosing a trustworthy and experienced custodian is essential.
What Does a Self-Directed IRA Custodian Do?
A self-directed IRA custodian is a financial institution authorized by the IRS to hold and record the assets in your IRA account. While some custodians limit investment options to stocks, bonds, or mutual funds, a self-directed IRA custodian like Mainstar Trust allows for a broader range of alternative investments, includingreal estate, private equity, promissory notes, tax liens, and more.
Importantly, while custodians facilitate the administration of your retirement account, they do not offer investment advice or tell you how to invest. As the account owner, you are responsible for your investment decisions and due diligence.
Key Factors to Consider When Choosing a Custodian
When evaluating SDIRA custodians, keep the following considerations in mind:
- Experience and credibility: Mainstar Trust has been in business since 1977, and is backed by a team with more than 40 years of combined organizational experience, averaging 20 years of tenure per team member.
- Range of asset classes: Look for custodians who support a variety of asset types, from traditional IRA investments to alternative assets such as real estate, private placements, or LLCs.
- IRS compliance and recordkeeping: Your custodian should be familiar with IRA rules, including contribution limits, prohibited transactions, required minimum distributions (RMDs), and the nuances of various account types, including Traditional IRA, Roth IRA, and SEP IRAs for small business.
- Efficient service and transparency: Mainstar Trust is known for providing responsive service and clear communication. Whether you are managing rollovers, distributions, or administrative updates, our team is committed to efficient, accurate recordkeeping.
Why Mainstar Trust Stands Out
As a trust company and IRS-approved IRA custodian, Mainstar Trust is uniquely positioned to support self-directed retirement accounts across a wide range of asset classes. We understand the complexities of investing in alternative assets and provide the infrastructure you need to keep your account compliant with IRS rules.
Account holders appreciate our focus on customer service, transparent fee structures, and the ability to invest in a diverse range of options—including real estate investments, private equity, promissory notes, precious metals, and more. We are not a brokerage, and we do not offer investment products or advice; instead, we offer custodial services that support your independent investment strategy.
Get Started with a Trusted Custodian Today
Choosing a custodian is more than just a checkbox—it’s a partnership that affects how your retirement account is managed, maintained, and reported to the IRS. If you’re looking for a self-directed IRA custodian that values experience, accuracy, and flexibility, reach out to the Mainstar Trust team now. We’re here to support your retirement plan and give you access to the investment options that matter to you.