SkyOak’s Self-Directed IRA Services & Administration is led by Tracy Ronningen, Director of Retirement Services who has specialized in Self-Directed IRAs & Specialty Assets for over 16 years.

Tracy and his team offer services to IRA account holders who need assistance and /or expertise in facilitating non-traditional investment transactions such as purchasing investment real estate, securing loans such as trust deeds or personal loans, and/ or investing in non-publicly traded stock or closely held companies.  SkyOak’s custodian for Self Directed IRAs & Specialty Assets is Equity Institutional.

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Services provided under SkyOak’s Self-Directed IRA Service Agreement include but are not limited to:

  • Assist in establishing the new account paperwork and transfer forms for the Account Holder to open a new account at Custodian.
  • Assisting the Account Holder to facilitate the transfer of their current qualified assets contained in their IRA to Custodian.
  • Assist the Account Holder in completing the process and paperwork that facilitates the future purchases of alternative investments within a self-directed IRA.
  • Monitor the account processes at Custodian to ensure that any transfer/new purchase process is being completed efficiently.
  • Work with the Account Holder to provide Custodian with a qualified collection escrow company and/or amortization schedules for promissory notes.
  • Work with Custodian and the Account Holder to monitor that all principal and interest payments that are made from third parties or directly from the borrower, if needed, are paid to the self-directed IRA and are posted/calculated correctly.
  • Assist the Account Holder in submitting all expense/bill pay forms for any/all expenses associated with the self-directed IRA owning real property.
  • Assist the Account Holder in the processing of rental income and monitor that the income has been received by the Custodian and has been deposited into the Account Holder’s self-directed IRA.
  • Assisting in providing Custodian with the property valuation forms, as needed for each asset/investment contained in the Account Holder’s self-directed IRA.
  • Assist the Account Holders in assuring the appropriate account values are provided for required minimum distributions (RMDs) calculations.

 

SkyOak, as the Service Representative, will act only as the designated liaison of Account Holder and the Custodian and will be limited to access to account information only.  SkyOak as the Service Representative, will not act as an investment advisor, trustee, sales agent, broker, accountant or attorney. SkyOak, as the Service Representative, will not have power of attorney or discretion over the assets of the Account, cannot unilaterally or otherwise direct the payment of invoices or billings from the assets of the Account or have any power to direct payment of the Account assets in any manner without Account Holder written direction. SkyOak, as the Service Representative, will not have authority to make changes or to transact business on behalf of Account Holder. The Service Representative shall not take possession of Account Holder’s assets to include but not limited to Account Holder’s deeds, notes, and documents demonstrating ownership interest.  Nor shall any deed, note, ownership interest, etc. be denoted in the name of the Service Representative or in the name of any other payee other than as directed in writing by Account Holder.  

 

Self-Directed IRA Services are governed by a separate agreement entered into by and between the IRA Account holder and SkyOak Wealth Management, Inc. as the Service Representative. 

 

 Self-Directed IRA Services & Administration Service Fees

SkyOak, as Service Representative, charges an annual self-directed IRA service fee based on a percentage of assets being serviced by SkyOak at Account Holder’s custodian.  SkyOak’s annual IRA service fee is charged quarterly, in advance, based upon the most recent custodian’s statement of the assets provided by account holder.  For new accounts, SkyOak will prorate to the portion of the calendar quarter during which the assets were placed under SkyOak’s Service Agreement.  The Firm’s standard fee schedule follows below:

SkyOak’s Self-Directed IRA Standard Service Fee Schedule Based on Custodian’s Statement Value Annual Fee Rate
On the market value up to $1,000,000 0.50% plus
On the market value above $1,000,000 to $2,000,000 0.40% plus
On the market value above $2,000,000 Negotiated
Minimum Annual Self-Directed Service  Fee $500