Comments on: Roth IRAs and inflation-protected securities http://www.savings-bond-advisor.com/roth-iras-and-inflation-protected-securities/ Thu, 18 Mar 2010 09:17:51 +0000 http://wordpress.org/?v=2.0.4 by: Jim Wood http://www.savings-bond-advisor.com/roth-iras-and-inflation-protected-securities/#comment-34103 Sat, 03 Jan 2009 04:04:44 +0000 http://www.savings-bond-advisor.com/roth-iras-and-inflation-protected-securities/#comment-34103 I agree with Mr. Adams that it will be very difficult to find an IRA trustee to hold I Bonds in an IRA because there is no profit incentive for the trustee to do so. In fact, there is an annual cost for the custodian to be the trustee with no income to warrant it. If George or anyone find such a company, many of us would like to know under what circumstances that company would accept the responsibility. Jim I agree with Mr. Adams that it will be very difficult to find an IRA trustee to hold I Bonds in an IRA because there is no profit incentive for the trustee to do so. In fact, there is an annual cost for the custodian to be the trustee with no income to warrant it. If George or anyone find such a company, many of us would like to know under what circumstances that company would accept the responsibility.
Jim

]]> by: Tom Adams http://www.savings-bond-advisor.com/roth-iras-and-inflation-protected-securities/#comment-34098 Sat, 03 Jan 2009 01:49:56 +0000 http://www.savings-bond-advisor.com/roth-iras-and-inflation-protected-securities/#comment-34098 George - I stand corrected and have edited this post. The problem of finding an IRA trustee who will invest in Savings Bonds remains. Tom Adams George - I stand corrected and have edited this post. The problem of finding an IRA trustee who will invest in Savings Bonds remains.

Tom Adams

]]> by: George Husted http://www.savings-bond-advisor.com/roth-iras-and-inflation-protected-securities/#comment-34025 Thu, 01 Jan 2009 16:08:58 +0000 http://www.savings-bond-advisor.com/roth-iras-and-inflation-protected-securities/#comment-34025 I wrote to the Dept. of Treasury and asked about putting I-Bonds into a Roth IRA. This is the email I got back: ********************* George, Series I bonds can be issued to a Roth IRA. To initiate an IRA, you should consult a bank or other financial institution that can act as the trustee or custodian of the IRA and is willing to accept savings bonds to fund the account. Once the IRA document, essentially a trust document, is established, securities can be purchased in the name of the IRA. The trustee or custodian of an IRA is almost always a bank. The bank's EIN must be used, not the customer's SSN. The fiduciary for an IRA may be referred to either as a trustee or a custodian. An IRA participant may not ordinarily serve as the trustee/custodian of his/her IRA. If you have additional questions, please contact us. Jeanette Customer Service Specialist *************** The rules do not say that you can't hold a Series I bond in a Roth IRA. I wonder if a non-profit could be set up to become the custodian or trustee for folks? All that is needed is an EIN and a secure database. I wrote to the Dept. of Treasury and asked about putting I-Bonds into a Roth IRA. This is the email I got back:
*********************
George,

Series I bonds can be issued to a Roth IRA. To initiate an IRA, you should consult a bank or other financial institution that can act as the trustee or custodian of the IRA and is willing to accept savings bonds to fund the account. Once the IRA document, essentially a trust document, is established, securities can be purchased in the name of the IRA.

The trustee or custodian of an IRA is almost always a bank. The bank's EIN must be used, not the customer's SSN. The fiduciary for an IRA may be referred to either as a trustee or a custodian. An IRA participant may not ordinarily serve as the trustee/custodian of his/her IRA.

If you have additional questions, please contact us.

Jeanette
Customer Service Specialist
***************
The rules do not say that you can't hold a Series I bond in a Roth IRA. I wonder if a non-profit could be set up to become the custodian or trustee for folks? All that is needed is an EIN and a secure database.

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