What is an administrator
An administrator’s role is to process the necessary paperwork to establish IRAs. As an administrator, Accuplan records and keeps track of our client’s Individual Retirement Accounts. We also complete all of the required reporting to the IRS in order to keep our client’s assets in a tax-deferred status. We are also responsible for tracking our client’s IRA’s activities, such as transfers, contributions, 401k rollovers, retirement distributions, and any investments that are made through our client’s IRA
What is a Custodian
A custodian is a financial institution—similar to a bank— that is permitted to hold and safeguard the assets and investments of our client's IRA’s, reporting transactions, account transfers, and any other account activity to the IRS. Accuplan uses American Estate and Trust, or AET, as a custodian for our clients accounts. AET is based out of Las Vegas, Nevada. A huge part of making sure your self-directed IRA is successful, is investing in good partnerships with the right people; not only the people you do business with, but also with those who you choose to hold your IRA.
The best custodians are the ones who provide you with the best service possible, and the flexibility and freedom that a true self-directed IRA provides. A good custodian gives guidance where needed, and is fully knowledgeable on IRS rules and regulations.
Read more about the difference between custodians and administrators on our blog.