Madison Trust Company Q&AAnswer
Feb 26, 2024 - 01:52 PM
In terms of Checkbook IRA Trust and Checkbook IRA LLC costs, please see the following:
- IRA LLC $50 setup plus $1295 one time fee to establish LLC
- IRA Trust $50 setup plus $1195 on time fee to establish trust
- For both account types, there is a quarterly fee of $105
- For both account types, everyday transaction fees are avoided due to the checkbook control capabilities of the account
Madison Trust mails all Form 1099-Rs to the account holders address on file by January 31st of the calendar year following the taxable event. Please note that 1099-Rs are only generated for years when assets or funds leave an account or when a Roth conversion is requested/processed.
If you have any more questions, please schedule a call with us or visit our website.
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.
