Madison Trust Company Q&AAnswer
Jan 29, 2024 - 01:10 PM
Yes, The Internal Revenue Code (IRC) Section 408 details that all IRAs must be held by a custodian, such as a bank or a trust company. For a Self-Directed IRA, you will choose a custodian who specializes in holding alternative assets.
For more information on the rules of opening a Self-Directed IRA, please visit our website or schedule a call to speak to one our Self-Directed IRA specialists today!
Please note, Madison Trust is a passive custodian and therefore, does not give legal, tax, or financial advice. Please consult with your tax adviser before making any investment decisions.
