Flexible custodian for Roth IRAs, Roth IRA annual reporting requiremen

[Guest Ed Lichtig]

I am an independent securities licensed representative from the San Francisco area. Here are my questions.

Do you know of a Roth IRA custodian that allows for the greatest range of investment options such as owning real estate or trust deeds or viatical settlements? I have several clients who like "non traditional types of investments and would really like to find a Roth IRA custodian that has the most flexibility.

Also do you know what kind of annual reporting has to be done if you own a Roth IRA.

Finally can you make your Roth IRA creditor proof? I understand that IRAs in many states may already have some sort of protection (at least to the extent that the IRA is necessary to "cover reasonable expenses"), but is there any thing else you can do such as domestic trusts (the Alaska/Delaware trusts) or pehaps shifting ownership off shore or to your kids?

[Mary Kay Foss]

Try calling John Beater at Pensco Pension Services in San

Francisco 415/274-5600. Pensco handles trust deeds and

some other unusual assets in IRA accounts.

The Form 5498 that is filed May 31 by regular IRA custodians is also used for Roth IRAs. It shows contributions, rollovers and 12/31 fair market value

among other things. A box on the Form is checked to

indicate that it is a Roth IRA.

My understanding is that in California a Roth IRA has

the same creditor protection as a traditional IRA; which isn't very much.

[Guest Ed Lichtig]

Mary Kay,

Thanks for your immediate response and the contact with Pensco. I hope that I can find some way to protect the Roth IRA in case of a creditor claim. Perhaps there is some genius type who has some creative ideas.

Ed Lichtig

[Guest cjsanders]

If Pensco doesn't pan out, try Sterling Trust out of Waco, TX. They can be costly, but hold almost anything in IRA's, including promissory notes and other oddities.