custodians

Submitted by Rose Robins on Wed, 2016-06-22 12:27

How do you know if you are selecting a legitimate custodian? Where do you find a list?

Permalink Submitted by Alan - IRA critic on Wed, 2016-06-22 18:13

You could use a bank or CU, or the list included here for non bank custodians: https://www.irs.gov/retirement-plans/approved-nonbank-trustees-and-custodians
I have heard that this list is not necessarily up to date, but to play it safe it is best to avoid custodians who are not on the list and are not banks, especially if they are small firms.
Actually, the custodian itself is not nearly as much of a hazard as some alleged investment advisors who are granted trading authority in your IRA.