SkyOak offers 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 a non-publicly traded stock or closely held companies. SkyOak’s custodian for Self Directed IRAs & Specialty Assets is Equity Institutional.
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.
Self-Directed IRA Services is governed by a separate agreement entered into by and between the IRA Account holder and to SkyOak Capital, 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 specialty 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 an 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