X

Choose an account type

Self-Directed IRA

FAQs

Why do I need to work with a custodian like NuView Trust?

The Internal Revenue Service requires a custodian to hold the IRA assets and the custodian is required to report transactions on the account. Due to some of the nuances with self-directed accounts, a majority of custodians do not accept these types of assets. NuView Trust performs these requirements in an effective and efficient manner.

What types of services does NuView Trust provide?

NuView Trust is a retirement plan record keeper for self-directed IRAs. We offer the same retirement plans as other plan administrators with one exception – we show you how to purchase the investments that you choose with your IRA funds.

We will help you ensure that your investment is purchased quickly, safely, and accurately. As your account administrator, we don’t tell you what to invest in; rather, we guide you in your transaction purchases.

How can I use my IRA to buy alternative assets?

You may purchase real estate, notes, commissions, options, private placements, accounts receivable, timber deeds, crops, cattle, stock, bonds, mutual funds, certificates of deposit, anything which is not prohibited or collectible as defined by the Internal Revenue code.

How do I determine which retirement plan is best for me?

The factors to consider are:
1. Your age
2. Your contribution and deferral capability
3. Whether you have common-law employees
4. When you wish to retire
5. Your tax situation

Seek to make the highest contribution to your retirement that you can. Then choose the plan that will give you the most flexibility.

You can review our retirement plans for more information regarding plan types and contribution comparisons. You should also seek the services of a tax professional to assist you in the proper selection of the plan best suited for you.

I have a 401(k) plan with my former employer. How can I self-direct the funds?

You can self-direct the funds by rolling over your account into a traditional IRA or a qualified plan (if you are eligible to have a qualified plan) that permits complete self-direction, such as a NuView self-directed IRA. Contact your former employer’s plan administrator or benefits department to determine what, if any, special procedures may be required.

You may roll over the assets you have in your old plan to your NuView Trust “in kind.” “In kind” means that the assets you held in your old qualified plan, 401(k), or other plan are rolled as is into your IRA. There may be restrictions from the fund provider, broker, or annuity company about “in kind” rollovers or transfers. Your former employer will advise you about any restrictions.

If you are still employed, check with your current plan administrator to determine if self-direction is currently allowed within your plan or if this option can be added.

What can I do with my NuView Trust?

You can invest into a number of alternative assets. If you are unsure if you can make a specific investment, please contact our office and speak with our transactions or sales team to get clarification about the investment. Our website also provides a wealth of information regarding common alternative investments.

How do I open a self-directed IRA?

You can open a self-directed IRA account by contacting NuView Trust at 407-367-3472 or by downloading the Application-Packet on our website and filling out the Account Application Form. You’ll be asked a few questions regarding the type of account that you’d like to open and then you can submit the form and any supporting documents online or via postal mail.

Does NuView Trust have a minimum requirement to get started?

While there is no minimum amount, the amount you should start with depends on the nature of the deal or investment you plan to make. Keep in mind that if you make a cash contribution to your account, check the contribution limits for that account type.

Can I transfer my current retirement funds to NuView?

Yes, our application kit contains documents that assist you in transferring or rolling over your funds to NuView.

Can I consolidate my IRAs?

Yes. You can consolidate:
– Your traditional and SEP IRAs into a single traditional IRA
– A SIMPLE IRA to a traditional IRA after two years
– Multiple Roth IRAs to a single Roth IRA

Complete this process simply by filling out the appropriate funding form which can be found in our Forms section.

What is the standard turnaround time for funding my transaction?

  • Real Estate: 24-48 hours for deposits
  • Other Assets: 2-5 business days

*Upon receipt of all documents in good order

What are the fees and costs involved?

Individual Investors

At NuView Trust, we realize that all investors have different objectives. To accommodate this, we’ve developed two fee structures for self-directed IRAs. Choose the fee structure that best suits your investment objectives from the options below. View our Fee Schedule for Individual Investors.

What is the IRAs tax ID number?

27-0063496

Can I pay a bill/expense from my IRA owned property and be reimbursed?

No, you are a disqualified party and cannot reimburse yourself in any means. Your IRA must pay all expenses associated with your investments. NuView offers bill pay options through the client portal which has checks cut within 24 hours of submission.

How do I request an investment?

You can make investments online directly through your portal! Don’t see an investment option you’d like to make? Give us a call at 407-367-3472 to speak with a NuView specialist.

How do I request a distribution?

Simply fill out and submit a Distribution Form to NuView’s team to fulfill the distribution.

How often do I receive a statement on my accounts?

Normal cycles are annually, although you may receive a statement at any time you wish. We encourage you to utilize our web portal so you can view your account and online statements at any time.

How do I find out what the current contribution limits are for my retirement plan?

You can check out the contribution limits at IRS.gov.

How do I pay a bill for my asset?

All bills can be paid and processed via your client portal. Simply login to your account to management your account and pay bills, etc.

Where can I find my deposit codes for my assets?

Deposit codes are found in your online client portal next to your investment.

What is the difference between a transfer and rollover form?

A transfer is when you move money from one retirement account to a second retirement account of the same type. For example, moving funds from an old 401(k) to a new 401(k).

A rollover occurs when you move money between two different types of retirement accounts. For example, moving money from a 401(k) into an IRA.

How can I process a rollover?

You will need to fill out Rollover Certification Form and submit to NuView Trust for and then contact your current administrator to move the funds over to NuView Trust.

Does NuView provide a 1099-R each year?

If a distribution was made during that year, you will receive a 1099-R by January 31st. An email notification will be sent out and you may also access the 1099-R in your client portal by cliking on “Tax Forms” and then “Statements”.

What are the different funds I can use to open a self-directed account with NuView Trust?

Most employer-sponsored plans, like 401(k) do not let you roll your account into a new vehicle while you are still employed. Some employers, however, do allow you to roll a portion of your funds. To be certain, contact your current 401(k) provider.

If you can roll your funds into a new account, here is a list of the types of accounts that are eligible:

  • Traditional IRA
  • Roth IRA
  • SEP IRA
  • SIMPLE
  • Individual(k)
  • Heath Savings Accounts
  • Coverdell Education Savings Accounts

I own a small business. Can I offer self-directed IRAs to my employees?

If you have no common-law employees, that is those that are not spouses, owners or partners, the best plan may be the Individual(k), which permits the highest aggregate percentage of contributions and flexibility. The administration is straightforward and you are the trustee, custodian and administrator, unlike any IRA plans.

Can I use my 401(k) funds with my current employer to purchase non-standard assets?

Possibly. If the company has a self-directed 401(k), you may have the ability to self-direct your 401(k) into these types of investments. To be certain, contact your current 401(k) administrator.

What are the limits to the investments I can make?

You cannot invest in Collectibles or Life Insurance Contracts. There are also certain transactions in which you cannot participate when using IRA funds. These transactions are referred to as “prohibited transactions”. Prohibited Transactions are defined in IRC § 4975(c)(1) and IRS Publication 590. These transactions were established to maintain that everything the IRA engages in is for the exclusive benefit of the retirement plan. Sometimes professionals refer to these as “self-dealing” transactions. Self-dealing happens when an IRA owner uses their individual retirement funds for their personal benefit instead of benefiting the IRA. If you violate these rules, your entire IRA could lose its tax-deferred or tax-free status. It is important that you work with a competent Retirement Account Facilitator to avoid violating these rules.

Are there different tax rules for self-directed IRAs?

The unique thing with IRAs and 401(k)s are the tax advantages. Most contributions are either tax deductible as is the case of a Traditional IRA or 401(k), or the distributions are tax free as in the case of a Roth IRA or Roth 401(k). There are no unique rules for self-direction.

What is a prohibited transaction?

There are some transactions that are prohibited by the IRS. There are basic requirements and procedures needed to apply for exemptions from the prohibited transaction rules (includes ERISA and non-ERISA plans and Individual Retirement Arrangements).

What is Unrelated Business Income Tax?

UBIT comes in two forms. Unrelated Business Income Tax (UBIT) and Unrelated Debt-Financed Income Tax (UDFI).

UBIT applies to IRAs invested in entities that do not pay taxes (such as many LLCs) that are an operating entity of a business that produces in excess of $1,000 per year in income. UDFI relates to an IRA that is debt financed provided that the net gain is more than $1,000 in a year.

UBIT is applied to profits made on the sale of a debt-financed property. Preparation of the 990-T tax forms is performed by you. The trustee or custodian or appropriate agent will file such taxes and sign the tax forms on behalf of your plan.

What is the deadline to contribute to an IRA or Qualified Plan?

Qualified plans must be established by the last day of your fiscal year if contributions are to be made for that year. If you have a calendar year end, you need to establish the plan on or before the last day to contribute for that year. The contributions may be made until your company tax year deadline including extensions. 401(k) deferrals must be made no later than 30 days after which the contributions are received. For 12/31/2008, that deadline would be 30 days later.

SEP and SIMPLE IRA contributions may be made by the company tax deadline plus extensions, except for defaults, which follow the above rules. Traditional and Roth IRA contributions must be made by April 15 with no extensions.

What are required minimum distributions?

Required minimum distributions are the minimum amounts that must be distributed to you from your retirement account(s) after you reach age 70 ½ (with the exception of the Roth IRA).

To whom should my renter make out the check to?

Your renter should make the check out to NuView Trust Inc FBO (Client’s Name) IRA.

Can I put a house I own personally into my IRA?

The short answer is No as this is considered a prohibited transaction.

Can I assign my real estate contract to my IRA?

Doing this is not recommended. Please consult your financial advisor to learn the specific details behind such a transaction.

What do I do if I don’t have enough money to buy real estate in my IRA?

You may partner with yourself or others; you make allowable contributions; you may obtain debt financing through private sources or financial institutions on a non-recourse basis; You may arrange a seller carry back loan; you may sell other assets in your IRA to raise cash to make the purchase; you may transfer funds from other IRAs or rollover funds from qualified plans, such as 401(k), 403(b) or government 457 plans you may have had at employers where you no longer work; If you have a profit sharing of 401(k)plan where you currently work, you may be able to make in-service withdrawals and roll those to the IRA within 60 days.

What forms of payment can my tenant/borrower send money?

  • Wire transfer: same day transaction. $30 fee
  • ACH: 2-3 business days. No fee
  • Check: 5 business days hold. Deposit code required to waive fee.

Funding the purchase of real estate in an IRA?

Cash – the IRA pays cash for the entire property
Partnering – an IRA can purchase fractional ownership in property
Financing – IRAs can mortgage real estate with a non-recourse loan.

Please note that any property purchased in an IRA must be titled: NuView Trust FBO (For the Benefit Of) Your Name IRA. Once all closing documents are read and approved by the account holder or a designated interested party, NuView can execute the request and send funds to the closing within 48 hours. The IRA now owns the property.

My IRA owns property – now what?

IRA account holders invested in rental or leased real estate are encouraged to retain the services of a non-disqualified party to serve as property manager and oversee rental property activities. A property manager may be able to respond to tenant or property emergencies and quickly pay for unexpected expenses. When an IRA owns real estate, the IRA must pay all expenses related to the property. If the IRA owns an undivided interest in the property, then the IRA must pay the pro-rata portion per its undivided interest. The IRA owner can direct NuView to pay the expenses by simply submitting a Payment Authorization Letter along with the invoice to be paid. The IRS does provide rules about IRA holders and other “disqualified persons” as it relates to the usage of the property once purchased. These people, as defined in IRC Section 4975 cannot get a beneficial use from the IRA owned property. Simply stated, they cannot use a vacation home on an interim basis between rentals, regardless of what rent they paid back to the IRA.

The IRA holder gets to make all the decisions not just in the purchase process, but also in hiring the property manager, what to charge for rent, hiring subcontractors to rehab the property, negotiating contracts, or working with the property manager to screen tenants. With a self-directed IRA, the opportunity to take control is significant.

How do I open a self-directed IRA?

You can open a self-directed IRA account by filling out the Account Application Form on our website or you may contact us at 844-688-4394. You’ll be asked a few questions regarding the type of account that you’d like to open and then you can submit the form and any supporting documents online or via postal mail.

What is the standard turnaround time for funding my transaction?

  • 24-48 hours

*Upon receipt of all documents in good order

What are the fees and costs involved?

Investment Sponsor Solutions
For investment sponsors who source their own capital, we make the process as simple and efficient as possible for your investors to add your offering to their retirement portfolio. Our sponsor fee schedule provides your investors a full-service experience at an incredibly affordable rate.

Financial Professionals Solutions
Our advisor solutions for Broker-Dealers/RIA firms, and their representatives or advisors, ensures client’s accounts with NuView are always accessible with consolidated account logins and data distribution to your own platform. Advisor fees remain cost effective without compromising the service you expect.

How do I request an investment?

You can make investments online directly through your portal! Don’t see an investment option you’d like to make? Give us a call at 844-688-4394 to speak with a NuView specialist.

How do I request a distribution?

Simply fill out and submit a Distribution Form to NuView’s team to fulfill the distribution.

How often do I receive a statement on my accounts?

Normal cycles are annually, although you may receive a statement at any time you wish. We encourage you to utilize our web portal so you can view your account and online statements at any time.

What is the difference between a transfer and rollover form?

A transfer is when you move money from one retirement account to a second retirement account of the same type. For example, moving funds from an old 401(k) to a new 401(k).

A rollover occurs when you move money between two different types of retirement accounts. For example, moving money from a 401(k) into an IRA.

What is Unrelated Business Income Tax?

UBIT comes in two forms. Unrelated Business Income Tax (UBIT) and Unrelated Debt Financed Income Tax (UDFI).

UBIT applies to IRAs invested in entities that do not pay taxes (such as many LLCs) that are an operating entity of a business that produces in excess of $1,000 per year in income. UDFI relates to an IRA that is debt financed provided that the net gain is more than $1,000 in a year.

UBIT is applied to profits made on the sale of a debt financed property. Preparation of the 990-T tax forms is performed by you. The trustee or custodian or appropriate agent will file such taxes and sign the tax forms on behalf of your plan.

What are required minimum distributions?

Required minimum distributions are the minimum amounts that must be distributed to you from your retirement account(s) after you reach age 70 ½ (with the exception of the Roth IRA).

Are there any risks involved with investing in Private Entities?

While investments into private companies that are taxed, such as a C Corporation, will generally not create a tax liability within an IRA, this may not be the case when investing in a pass-through tax entity such as an LLC (S Corporations are unable to take IRA investments). As always, speak with a tax adviser about the tax implications of investing an IRA in an operational business with a pass-through tax structure as an Unrelated Business Income Tax liability may accrue. NuView is not a fiduciary and therefore cannot offer investment advice.

My IRA has Stake in a Private Company – What’s Next?

As with all investments, the IRA holder should continue to monitor the performance and appropriateness of their investments. At the end of each year, the account holder will provide a third-party valuation of their investment to NuView to meet the requirements of the IRS.

Any dividends or other earnings from the investment belong to the IRA, which can be re-invested as directed. If the funds are invested into an operating company that is a pass-through tax entity, Unrelated Business Income Tax, or UBIT, may be accumulate and must then be paid by the IRA. As always, a tax advisor can provide more information on specific investments.