Guest SHM Posted December 5, 2006 Share Posted December 5, 2006 Section 223(d) of the Code provides that an HSA must have a trustee that is a bank, an insurance company, "or another person who demonstrates to the satisfaction fo the Secretary that the manner in which such person will administer the trust will be consistent with the requirements of this section." Can anyone point me in the direction of where to look to determine how the process (of gaining approval by the Secretary to be a trustee) works, what information is likely to be required by the Secretary, and how long the process generally takes? Link to comment Share on other sites More sharing options...
Jacmo Posted December 15, 2006 Share Posted December 15, 2006 Why not go online to the IRS or call the IRS in Washington DC? Link to comment Share on other sites More sharing options...
vebaguru Posted June 12, 2007 Share Posted June 12, 2007 I know some people who got approved by the DoL to be an IRA custodian, the same requirements as for HSAs. Within 90 days of their approval the state served them with a cease and desist order for operating an unlicensed trust company. Link to comment Share on other sites More sharing options...
Jacmo Posted June 13, 2007 Share Posted June 13, 2007 Try the following site: www.irs.gov/irb/2007-20 irb/ar10 Link to comment Share on other sites More sharing options...
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