Formerly known as First Trust Company of Onaga
Home > Getting Started with Self-Directed IRAs

Getting Started with Self-Directed IRAs



How to Get Started

Get Support with a Self-Directed IRA Custodian

Alternative investments can add complexity to your IRA, with the potential for additional administrative, tax, or legal requirements. Often IRA owners engage a financial advisor to help them evaluate investment opportunities, risks, and costs.

Many self-directed IRA owners find it beneficial to consult with tax or legal advisors to navigate the tax rules and avoid prohibited transactions. It is also important to work with a custodian that has proven expertise in administering self-directed IRAs.

At Mainstar Trust, you’ll get the support you need while keeping control over your investments.

Open a Self-Directed IRA with Mainstar Trust

Mainstar Trust is a custodian for many alternative investment options for individuals seeking self-directed IRAs. Ready to open a self-directed IRA? Find out how to open a self-directed IRA here, or contact a Mainstar Trust representative to discuss your options.

Choosing the Right IRA Custodian

Your journey, your goals, your future.

When it comes to choosing the right IRA custodian, it’s important to weigh your options, identify your goals, and find the one that is committed to you and where you want to go in the future.

You want an IRA custodian that:

  • Has longevity and experience in providing custodial services
  • Offers dynamic services and adaptable solutions to meet your individual needs
  • Prioritizes you and your financial goals, investments, and retirement objectives
  • Is accessible and ready to help you navigate your financial journey

At Mainstar Trust, we believe that when you take control of your long term savings objectives, you take control of the future you long to have. And, we help IRA owners do just that.

Sometimes, one of the hardest parts about diversifying your investments is knowing where to start. With our custodial services, you have more control over your financial future, while having the knowledge and support to help you navigate along the way.

Learn more about our services and see if Mainstar is the right IRA custodian for you today!



Your time is valuable. It only takes three simple steps to open a self-directed IRA with Mainstar Trust and get started on the next step in your retirement savings journey.

Step 1: Open the Account

To open a Mainstar Trust self-directed IRA, simply complete the IRA Application.

  • PRINT AND SEND: You can print a PDF of our IRA Application and Agreement and other forms from our website. Send completed and signed copies to Mainstar Trust by mail, email, or fax to the addresses provided on the IRA Application.


Step 2: Fund the Account

You can fund the account in three ways:

  • ROLLOVER FROM AN EMPLOYER RETIREMENT PLAN: If you are eligible to take a distribution from your account in a profit sharing plan, 401(k) plan, 403(b) plan, or governmental 457(b) plan, you can directly roll over money to fund your self-directed IRA.
  • TRANSFER FROM ANOTHER IRA: You can directly transfer money from an existing IRA to a Mainstar Trust IRA in a tax-free, nonreportable transaction.
  • MAKE A CONTRIBUTION: If you are eligible to contribute to an IRA this year, you can make an IRA contribution up to the annual limit ($6,000 for 2019, $7,000 if you are age 50 or older).

Mainstar Trust will provide the forms you need to begin the funding process. Once we have received all of your documentation, we will work with your current custodian/administrator to move money or assets to Mainstar Trust.


Step 3: Select Your Investments

To purchase investments, you may be required by the issuer/asset company to complete issuer subscription documents. You will also complete the Mainstar Trust Purchase Authorization form. If you are not ready to purchase an investment when you open your Mainstar Trust IRA, you can submit purchase documentation at any time.

If you have any questions as you complete the three steps, contact a Mainstar Trust representative for help.


Account Opening Instructions for a Mainstar Trust Self-Directed IRA