Key takeaways
- Custodian transfers are routine for cash and public securities and genuinely are not for private assets.
- Five checks matter most: whether the new custodian will hold the asset, transfer versus rollover, how in-kind assets re-register, total cost, and what happens mid-flight.
- Confirm the receiving custodian accepts the specific asset before you initiate anything.
Moving an IRA between custodians is normally uneventful: a trustee-to-trustee transfer, no tax, no headlines. Self-directed accounts add a wrinkle — the assets themselves have to make the trip. Before initiating anything, get five answers.
1. Will the new custodian hold what you own?
Custodians differ in the asset classes they support. If the receiving firm won’t custody, say, your private fund interest or note, that asset must be sold, distributed, or left behind — each with consequences. Confirm asset-by-asset, in writing, first.
2. Transfer or rollover?
A direct trustee-to-trustee transfer never touches your hands, isn’t taxable, and isn’t limited in frequency. A 60-day rollover puts money in your possession with a deadline and a once-per-12-months limit across your IRAs — and a missed deadline is a taxable distribution. For moves like this, direct transfer is almost always the right instrument; the differences are detailed in our rollovers and transfers guide.
3. How do in-kind assets actually re-register?
Each private asset moves by re-registration: the property deed, the fund’s subscription records, the note — all must be retitled to the new custodian for your benefit. Sponsors and title companies work on their own clocks. Ask both custodians who prepares each document and how long comparable transfers have taken.
4. What will the move cost — on both ends?
Expect possible account-closing and asset-transfer fees from the outgoing custodian and setup or per-asset fees at the incoming one. Get both schedules in writing and compare against our published pricing — transparency here is a good proxy for transparency everywhere.
5. What happens mid-flight?
While assets re-register, capital calls, note payments, rent, and distributions still arrive. Confirm where money lands during the gap, who signs anything urgent, and that the prior year’s valuations travel with the file. A transfer done deliberately takes a few weeks and no tax. Done casually, it can take months — or become a distribution nobody intended. When you’re ready, start here and we’ll run the checklist with you.
Educational only. This page is general information, not individualized investment, legal, or tax advice. Rules depend on your account type, transaction, tax year, and circumstances — consult a qualified professional.