IRA Custodians are regulated financial institutions who meet specific banking criteria outlined in IRC Section 408. Third party administrators are not regulated but can serve as a customer service office between you and your IRA custodian. While there are thousands of IRA custodians and TPA’s around the country, most of them are not designed to allow checkbook IRA control.
It is a conflict of interest for self directed IRA custodians to offer their own products i.e. C.Ds, IRA LLCs, legal/tax/investment advice, etc… The following is a list of self directed IRA custodians who are free from conflicting interests and are in a position to serve for administrative and compliance purposes only.
The fees associated with your self directed IRA custodian are limited under an IRA LLC vehicle because all of the investments and transactions are handled through the limited liability company, not the IRA custodian.