Would appreciate any feedback from folks who have applied to the IRS to qualify a non-bank entity as an IRA trustee/custodian. For example, how long was the process from filing to completion, how helpful/obstructive was the IRS, etc.? We are in the preliminary phases of researching this for a client and are interested in the experiences of others.

Thanks.

Can you add some details on why your client is looking for an alternative custodian? I am curious.

Sorry if I wasn't clear. Our client is considering trying to qualify as an IRA trustee/custodian. In addition to walking the client through the requirements of the regulations, I was hoping to be able to give the client some idea of what to expect in terms of timing, etc.

I'm with an insurance company and we are just starting the process - from what I have heard it shouldn't take that long, but then we already market IRAs - just not as a custodian.

As we progress, I'll try to keep you posted.