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Updated over 1 year ago,
Need advice - How to handle account been closed by Equity Trust without my consent
How to handle account been closed by Equity Trust without my consent ( They did informed me for 30 days, I was overseas and can't do much logistically to transfer out real estate properties, I just came back to the States) and they told me now I have to deed assets into my own name and then deed to the new custodian. I am still fighting this treatment and fully confused what should I do. In general I can't touch any assets, it needs to transfer from custodian A to B. But Equity Trust refused to do direct transfer. My questions are two folds,
1. Did you have experience negotiate with Equity Trust to re-open account to get the direct transfer -out done quickly
2. If re-open not successful, if I I use the indirect transfer (deed twice) and before triggering the 60 days ruling, do I still avoiding distribution tax? I know when I fail the negotiation, that Equity Trust will send a 1099-R to report distribution sometimes, and
3 I need a IRA experienced CPA to help me to write a opinion letter to IRS to explain the situation. Can anyone recommend an CPA specialized in custodian companies operations and clients who use self-directed IRA for real estate transactions?
4. Do you have similar experience and how did you handle your closed account by Equity Trust?