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You have heard about investing your retirement outside of Wall Street but how do you get started.  This article will tell you exactly how to open a self-directed IRA.

Things to Keep in Mind

  • Your IRA is for retirement purposes only, not to give you extra cash today
  • Your self-directed IRA can invest in most everything except life insurance contracts and collectibles
  • Steer clear of prohibited transactions
  • Do your due diligence as losses in an IRA are not deductible

Prohibited Transactions

Generally, a prohibited transaction is any improper use of your traditional IRA account or annuity by you, your beneficiary, or any disqualified person.

Disqualified persons include your fiduciary and members of your family (spouse, ancestor, lineal descendant, and any spouse of a lineal descendant).

The following are some examples of prohibited transactions with a traditional IRA.

  • Borrowing money from it.
  • Selling property to it.
  • Using it as security for a loan.
  • Buying property for personal use (present or future) with IRA funds.

To open an account we need:

1) Application (Click Here)  Note:  When you type on the IRA INTAKE FORM it auto-fills the rest of the document. Printed single-side only, not front & back – No digital signatures (We need pages 1,3,5,20, 22 & 23)
2) Copy of your driver’s license or passport
3)  Check for $50 for the set-up fee (made payable to uDirect IRA Services) or pay on PayPal
4)  Copy of the statement from your current IRA or other retirement account

5) W-9 form HERE

To have your questions answered, call us Toll-Free at (866) 447-6598.

Attention:

uDirect IRA Services staff is working both from home and from our offices in response to COVID-19. Rest assured, we are fully operational and ready to help with your retirement needs.