Aug 08

Leading Self-Directed IRA Provider – IRA Financial Group – Sees New DOL Fiduciary Rules Increasing Demand for Alternative Asset Investments with IRA Funds

Increased regulation on IRA financial advisors has lead to increased demand for self-directed IRA real estate and solo 401(k) real estate plans

IRA Financial Group, the leading provider of self-directed IRA retirement solutions, has experienced strong demand for its self-directed IRA real estate solutions in light of the Department of Labor (“DOL”) new fiduciary rule. The U.S. DOL is expected to finalize new rules that would change the way financial advisors are allowed to give advice to their clients. The new rules are meant to reduce the conflict of interest among broker-dealers and financial advisors who advise consumers on how to invest their savings. Under the new rules, broker-dealers would be required to act in their clients’ best interest rather than encouraging money moves that directly benefit the broker’s bottom line. “The DOL fiduciary rule has good intentions and should help IRA investors receive better investment advice, however, we have experienced some clients incur additional fees under the new fiduciary regime,” stated Adam Bergman.

Leading Self-Directed IRA Provider - IRA Financial Group - Sees New DOL Fiduciary Rules Increasing Demand for Alternative Asset Investments with IRA FundsAccording to Mr. Bergman, a partner with the IRA Financial Group, the DOL has been concerned that brokers will direct retirement investors to invest in products that may be too risky and expose them to additional fees. “We have seen this with a number of clients who saw their advisory fees increase their IRA account and then elected to move over to a self-directed IRA to have more control over their retirement asset investment.”

With IRA Financial Group’s self directed retirement plans, retirement account investors have the ability to make traditional as well as alternative asset investments, such as real estate in a tax-deferred or tax-free basis.

“The IRA Financial Group is committed to offering low-cost alternative asset self-directed IRA options to retirement account holders whose portfolios may not be big enough for traditional firms,” stated Mr. Bergman.

IRA Financial Trust Company was founded by Adam Bergman, a partner with the IRA Financial Group. The IRA Financial Group, the leading provider of self-directed real estate IRA retirement solutions. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.

IRA Financial Group is the market’s leading provider of self-directed IRA LLC and Solo 401(k) plans. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646. To learn more about establishing a self-directed IRA account with the IRA Financial Trust Company please visit http://www.irafinancialtrust.com or call 800-472-1043.

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Aug 04

Why the Need for a Special Custodian for Self-Directed IRAs?

Pursuant to Section 408 of the Internal Revenue Code, an IRA must be established by a bank, financial institution, or authorized trust company.  Thus, a bank such as Wells Fargo, financial institution such as Vanguard, or a trust company such as the IRA Financial Trust Company are authorized to establish and administer IRAs.  The main difference is that not all IRA custodians allow the IRA to invest in alternative assets, such as real estate.

Individual Retirement Account is a term that most Americans have some understanding of.  They are commonly aware that it is a type of retirement account that was designed by Congress to encourage people to save for retirement. They generally understand that one can contribute a certain amount of income each year to the IRA account for investment. However, most do not have a solid understanding of the concept of tax deferral and the fact that retirement funds can be invested in assets other than stocks or mutual funds through what has become known as a Self-Directed IRA.

Why the Need for a Special Custodian for Self-Directed IRAs?So why don’t they know this? It’s not because the majority of Americans are uneducated, indifferent, or incurious – they simply have not been told. It’s not in the financial interests of the traditional institutional investment companies, such as Bank of America, Charles Schwab, or E-Trade, to encourage you to make alternative investments using retirement funds. They make money when you invest in their financial products and keep your money there for a long time, whether through highly profitable trading commissions or by leveraging the power of your savings. They make no money when you use your money to invest in alternative or nontraditional investments, such as a plot of land or a private business. They get no commissions as a result. They lose access to your money too. Why would they inform you that such a strategy was permissible and possibly even preferable depending on the circumstances?

Yet, such nontraditional or alternative retirement asset investments are perfectly legal. The IRS has permitted them since 1974. It says so right on the IRS website.

And the best way to make those investments is through the Self-Directed IRA.

What are the Responsibilities of a Self-Directed IRA Custodian?

The majority of all Self-Directed IRA custodians are non-bank trust companies for the reasons outlined above.  The Self-Directed IRA custodian or trust company will typically have a banking relationship with a bank who will hold the IRA funds in a special account called an omnibus account, offering each Self-Directed IRA client FDIC protection of IRA funds up to $250,000 held in the account.  For example, IRA Financial Trust is a non-banking IRA custodian. IRA Financial Trust has partnered with Northern Trust, one of the most respected private banks in the world, to offer our Self-Directed IRA clients a safe and secure way to make Self-Directed IRA investments.

The following are the primary roles and responsibilities of a Self-Directed IRA custodian:

  • IRS approved
  • Permitted to hold and custody IRA and 401(k) plan assets
  • Subject to state regulation by the state division of banking
  • Performance of administrative recordkeeping regarding the Self-Directed IRA
  • Perform administrative review of the Self-Directed IRA assets
  • Assisting in opening & funding your IRA account
  • Making the investment(s) on your behalf
  • Making distributions & paying expenses per your request
  • Providing you with quarterly statements
  • Answering questions about your account and our procedures
  • Reporting information required by the IRS and other governmental agencies
    • IRS Form 1099R – Distributions from your IRA
    • IRS Form 5498 – Contributions to and Fair Market Value of your IRA

What are the Differences Between a Self-Directed IRA Custodian and Third-Party Administrator?

All IRA custodians, banks, financial institutions, and approved trust companies are regulated entities that are authorized by the IRS to act as IRA custodians. Since custodians are directly approved by the IRS, they are the only entity in this group that’s allowed to physically hold retirement assets. IRA custodians are needed in order to make investments with IRA funds and, as a result, are regulated by federal and state banking authorities.

Whereas, an IRA administrator is not able to hold or custody IRA assets and is not approved or overseen by the IRS or any state banking regulators. IRA administrators essentially act as intermediaries between the IRA owner and a partner custodian.

Why Is It Important to Work Directly with an IRA Custodian?

IRA administrators are not subject to any IRS or state audit or reviews.  Accordingly, they are not subject to ongoing oversight, especially in the area of prohibited transactions, which is important in order to keep your Self-Directed IRA in full IRS compliance. Whereas, an IRA custodian is subject to quarterly state banking division audits and reviews, as well as IRS audits, helping keep your IRA safe from prohibited transactions and fraud.

To learn more about establishing a Self-Directed IRA account with the IRA Financial Trust Company, please contact a Self-Directed IRA specialist at 800-472-0646.

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Aug 16

Adam Bergman, IRA Financial Trust President, To Release Second Book on Self-Directed IRA in September 2016.

Self-Directed IRA in a Nutshell book will help introduce the self-directed IRA structure to the American public in an easy to understand format

Adam Bergman is a senior partner with the IRA Financial Group, LLC, the markets leading provider of Self-Directed IRA LLC and Solo 401(k) plans. Mr. Bergman will be releasing his sixth book on the topic of self-directed retirement plans and his second book on the self-directed IRA structure. The new book titled, Self-Directed IRA in a Nutshell will be available on Amazon in September 2016.

Mr. Bergman is a recognized expert on IRAs and 401(k) Plans and is the founder of the BergmanIRAReport.com and the Bergman401KReport.com. Mr. Bergman is the author of five previous books on the taxation of retirement accounts: Going Solo, The Checkbook IRA, Turning Retirement Funds into Start-Up Dreams, In God We Trust—In Roth We Prosper, and Solo 401(k) Plan in a Nutshell, which are all available on Amazon.com and Barnes & Nobles. Mr. Bergman is a frequent contributor to Forbes. Mr. Bergman has advised over 12,000 clients on the self-directed IRA LLC and Solo 401(k) Plan solutions.

Adam Bergman, IRA Financial Trust President, To Release Second Book on Self-Directed IRA in September 2016.According to Mr. Bergman, “I’ve written this book for people who want to learn more about the basics of what a self-directed IRA is and how it works without having to read a five hundred-page book. In 2015, I published an in depth and detailed 466 page book on the self-directed IRA structure titled, The Checkbook IRA, Why You Want It, Why You Need It, A Private Conversation With a Top Retirement Tax Attorney, that I am very proud of and which has hopefully helped many retirement investors learn more about the Self-Directed IRA option. However, in addition to have received some really great feedback from many people and clients who bought the book, I did get some comments requesting that I write another book on the self-directed IRA structure that was a bit more introductory and less comprehensive. So I have decided to heed their advice and hope this book helps introduce many of the important concepts involved in establishing and using a self-directed IRA to make traditional as well as alternative asset investments, such as real estate with their retirement funds.”

Mr. Bergman has been quoted in a number of major publications on the area of self-directed retirement plans. Mr. Bergman has been interviewed on CBS News and has been quoted in Businessweek, CNN Money, Forbes, Dallas Morning News, Daily Business Review, Law.com, San Francisco Chronicle, U.S. Tax News, the Miami Herald, Bloomberg, Arizona Republic, San Antonio Express, Findlaw, Smart Money, USA Today, Houston Chronicle, Morningstar, and American Lawyer on the area of retirement tax planning.

Prior to joining the IRA Financial Group, LLC, Mr. Bergman worked as a tax and ERISA attorney at White & Case LLP, Dewey LeBoeuf LLP, and Thelen LLP, three of the most prominent corporate law firms in the world. Throughout his career, Mr. Bergman has advised thousands of clients on a wide range of tax and ERISA matters involving limited liability companies and retirement plans. Mr. Bergman received his B.A. (with distinction) from McGill University and his law degree (cum laude) from Syracuse University College of Law. Mr. Bergman also received his Masters of Taxation (LL.M.) from New York University School of Law.

Mr. Bergman is recognized as a leading retirement tax-planning expert and has lectured attorneys on the legal and tax aspects of Self-Directed IRA LLC and Solo 401(k) Plans. Mr. Bergman has also been retained by several leading IRA custodians, including Entrust, to offer expertise on the Self-Directed IRA structure. Mr. Bergman is a member of the Tax Division of the American Bar Association and New York State Bar Association.

IRA Financial Trust Company, a self-directed IRA custodian, was founded by Adam Bergman, a partner with the IRA Financial Group. The IRA Financial Group, the leading provider of self-directed IRA retirement solutions. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

IRA Financial Group is the market’s leading provider of self-directed IRA and Solo 401(k) Plans. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.

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Aug 13

What Separates IRA Financial Group From the Pack?

The IRA Financial Group is owned and operated by tax and ERISA professionals who have worked at some of the largest law firms in the United States, including White & Case LLP and Dewey & LeBoeuf LLP. As a result, our retirement tax professionals’ tax and IRA knowledge in this area is unmatched.

What Separates IRA Financial Group From the Pack?Unlike our competitors, our tax and ERISA professionals are always available to answer client questions and regularly attempt to field all incoming customer phone or email inquiries. When choosing the IRA Financial Group, you will have direct and unlimited access to our in-house tax and ERISA professionals. Each client of the IRA Financial group is assigned a retirement tax professional in order to ensure that the tax structure established is in compliance with IRS rules. Because we are owned and operated by tax and ERISA professionals, we are able to do all necessary IRA rollover or transfer paperwork and consultation in-house, allowing us to expedite the process from start to finish for significantly less than our competition.

Our retirement tax professionals have helped thousands of clients establish IRS compliant Self-Directed IRA LLC and Solo 401(k) Plan structures.

Talk to one of our retirement tax professionals today and begin experiencing the benefits of tax-free investing!

Please contact one of our Retirement Experts at 800-472-0646 for more information.

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