Which custodial fees are already covered?
Self-Directed Plans pays the two core IRA Resources fees for you, and both are included in your plan fees. The Annual Recordkeeping Fee covers your custodial cash account and one LLC or Trust asset, and it does not change as your account value grows.
| Fee | Amount |
|---|---|
| Account establishment fee (one time) | $100 |
| Annual Recordkeeping Fee | $199 |
Which fees do you pay directly?
You are responsible for transaction fees on your IRA custodial account. These apply when the IRA itself takes an action, such as buying or selling its ownership interest in your IRA LLC or IRA Trust, receiving a wire for an inbound rollover or transfer, or completing a Roth conversion. IRA Resources charges the fee when you submit the transaction form, and the transaction is processed once the fee is paid.
| Transaction | Fee |
|---|---|
| Purchase, sale, or exchange of your LLC or Trust interest | $50 |
| Additional LLC or Trust asset (second entity onward) | $75 per year |
| ACH transfer, incoming or outgoing | $0 |
| Wire transfer, incoming or outgoing | $30 per item |
| Partial transfer out | $25 |
| Full account termination | $250 |
| Reprocessing of incomplete documents (Forms 5498 and 1099-R) | $100 per item |
| Re-registration of assets for outgoing transfers and in-kind distributions | $100 per item |
| Roth conversion of existing assets | $50 per asset |
Investments you make inside your IRA LLC or IRA Trust, using the plan bank account, never pass through IRA Resources and carry no custodial fee. The complete list of charges is available on the IRA Resources fee schedule, which governs if any amount shown here differs.
What is the best way to pay transaction fees?
Keeping a payment card on file with IRA Resources is the most reliable way to have transactions processed promptly. Submit their authorization form once, and IRA Resources will charge the card as each transaction is submitted. The only fee type on that form that applies to your account is Transaction Service Fees.
You decide for each transaction whether to pay personally or with IRA funds, since custodial transaction fees are one of the plan fees that can come from either source. To pay with IRA funds, use the debit card for your IRA LLC or IRA Trust bank account.
Should IRA Resources deduct fees from your IRA?
IRA Resources can deduct fees from your IRA, but a card on file works better for a checkbook IRA. Your plan cash normally sits in the IRA LLC or IRA Trust bank account, which IRA Resources cannot access. The custodian can only deduct fees from cash left in your custodial cash account at IRA Resources. Keeping a balance there, and replenishing it over time, ties up cash that could otherwise be invested, and a transaction can be rejected if that balance falls short when a fee is due.