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FinancialSuccessInstitute.org Is Setting Up a New Section Divulging Self Directed IRA Custodian Duties

FSI today announced a new section of FinancialSuccessInstitute.org will be dedicated to coaching readers on what a self directed IRA custodian can and cannot do for them.

Fairfax, VA (PRWEB) January 01, 2012

Richard Geller, CEO and managing director of FinancialSuccess Institute.org, announced today, "Many of FSI readers are excited about learning the many secure and lucrative alternative investing possibilities available when they take control of their retirement funds. As more readers make the move to become financially independent, it's imperative they understand the role of a self directed IRA custodian. With that service in mind, FSI is establishing a new section of the website devoted to explaining exactly what a self directed IRA custodian can and cannot do for them."

Geller continues, "This is important because the purpose of a self directed IRA custodian is very different than financial planners that many FSI readers have worked with in the past. The most important difference is a self directed IRA custodian doesn't give financial advice. The primary role of a self directed IRA custodian is reviewing the investor's potential investment for compliance with the tax code. Another important role of the self directed IRA custodian is reporting the investors transactions to the IRS each tax year.

Geller adds, "The way a typical transaction involving a self directed IRA custodian goes is an investor finds a property they want to invest in. They notify the self directed IRA custodian what they want to purchase and the self directed IRA custodian provides them with a long form to fill out. After the self directed IRA custodian reviews the paperwork, the self directed IRA custodian decides if the purchase will go forward or not. If the self directed IRA custodian approves the purchase, the investor must put the entire deal in place. Once the deal is setup, the investor notifies the self directed IRA custodian where and when to send check to close the purchase."

According to Geller, "The subject of the self directed IRA custodian is not new to the Institute. However, the new self directed IRA custodian section of the website will add much needed detail to the information the Institute already provides readers. People wanting access to information already available can begin with this Self Directed IRA Custodian article."

Geller concludes, "The new self directed IRA custodian section of the FSI website will be up and viewable by readers within the week. Over time, new material will be added to the self directed IRA custodian section. Readers are encourage to visit the new self directed IRA custodian section at FiancialSuccessInstiture.org.

About FinancialSuccessInstiute.org. The institute is devoted to educating readers and subscribes about investing alternatives and protecting wealth once achieved. The new self directed IRA custodian section is only one of a large volume of resources available to subscribers. In addition to self directed IRA custodian, other information readers can access includes investing in real estate, debt settlement, legally minimizing taxes, super trusts, and asset protection.    

Disclaimer: Information here and at FinancialSuccessInstitute.org is not legal or professional advice regarding the self directed IRA custodian or any other retirement account activity. It's intended only as general information sharing. Seek professional assistance regarding your specific circumstances and applicable laws to assure you follow all of the self directed IRA custodian rules or before taking any other retirement account action.

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For the original version on PRWeb visit: http://www.prweb.com/releases/prweb2012/1/prweb9071862.htm

 

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