uDirect IRA has been a BBB-accredited business since 2009, with an “A” rating, and is based in Tustin, California. uDirect IRA Services is a self-directed IRA that has helped several thousands of people invest their IRA funds beyond the stock market and into land, real estate, and private notes to help them to expand their financial investments and grow their wealth.
Located in Southern California, the company seeks to educate individual investors and professionals by offering various educational webinars to their clients. The company is a third-party administrator that aims at delivering precise and complete information on the customer’s self-directed IRA’s to enable them to maximize the value of their retirement funds.
uDirect IRA does not promote any specific type of investments, but instead provides knowledge and information to help customers make informed decisions for their self-directed IRA’s.
The company offers various services such as traditional IRA’s, Roth IRA’s, SEP IRA’s, simple IRA’s, Solo (K) and inherited IRA’s.
How to Invest in Your uDirect Self-directed IRA?
Once you have opened your self-directed IRA, you will need to start making investments. You may invest in anything expect collectibles and life insurance contracts. The company provides a 24- to 48-hour window of turn-time in case some investments are prohibited transactions.
You will need to fill a self-directed form which will highlight the asset you are acquiring along with the amount to be disbursed for the asset. You may also indicate the payment method, via check or wire transfer. You will also need to provide some supporting document such as an “Offer to Purchase” for real estate or a “Subscription Agreement” if you are purchasing units of an LLC. When you buy an asset through your IRA, the company will sign all documents on your IRA’s behalf.
An investor will choose his investment, does due diligence, negotiates asset price and monitors his account, while uDirect IRA will administer buying and selling of assets, processes invoices, signs papers for the IRA, provides IRS reporting and administers the contributions and distributions in the IRA account.
The company will also provide an online statement, which is available 24/7 to customers. The company does not endorse any products or companies and does not provide any investment, legal, financial or tax advice to customers.
Funding, Fees and Charges of uDirect IRA
uDirect IRA charges an annual fee of $275 for maintaining a self-directed IRA account. To set-up an account, the company charges a fee of $50. They also require you to hold a minimum deposit of $375 in your account. The company also charges monthly storage fees for precious metals bullion and a wire transfer fee of $15.
The company enables accounts to be funded in one of three ways — an annual check contribution from personal funds, a transfer of funds from another existing IRA, or a rollover of funds from another qualified plan like a 401(K).
uDirect IRA Review
uDirect has a positive reputation in the industry and has been appreciated for its high levels of customer service across most of the review websites of the industry watchdogs such as BBB, Business Consumer Alliance and Trustlink. The company has serviced more than 1,200 clients across America and holds assets of over $100 million.
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