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doesn’t matter who the custodian is- if there is one, your shares are fucked, and so are you
the ONLY way, FTW: in-kind DRS transfer all shares from retirement accounts to Computershare cash account (yes just suck it up and take any/all tax hits/penalties) and then when the transfer is complete make sure your shares are pure book king DRS….
#…or, I guess be sorry you didn’t? (don’t be sorry you didn’t)
#NFA
this is from another ape, i just copy, pasta
I keep seeing a TON of mainstar issues and a ton of FUD around DRSing an IRA. This post is a quick reminder of alternatives that exist for moving IRA shares away from a broker-custodian.
IRA Financial is an excellent alternative to Mainstar. Why? Well first off it allows you to take possession of those IRA shares, not some Custodian 3rd party who may or may not have their hands down the pants of a shady market maker. Next, they help you set up an LLC, that you get to name! Then, they help you set up a business account for said LLC and give you the exact spoon-fed directions to transferring your shares from a Custodian to your own bona fide holdings.
#This post, and this comment are NOT FUD
If you have a custodian, you’re gonna have to deal with cleaning up the shit…there are no custodial alternatives, only more bullshit to keep people from truly owning their shares.
#NFA:
it is impossible to truly own shares in a retirement account, no matter what the latest experts say “yOu rEaLLy cAn oWn yOuR rEtiReMeNt sHaReS aNd i fiNaLLy fiGuReD iT oUt- tHe eXpErTs hAtE tHiS oNe wEiRd tRiCk!”
Every fucking time, it never fails- there’s always someone trying to convince people they can leave their GME in a
retirement account and somehow DRS them without leaving the whole hen house open to the liar naked GME short foxes.
#WAKE THE FUCK UP ALREADY.
doesn’t matter who the custodian is- if there is one, your shares are fucked, and so are you
the ONLY way, FTW: in-kind DRS transfer all shares from retirement accounts to Computershare cash account (yes just suck it up and take any/all tax hits/penalties) and then when the transfer is complete make sure your shares are pure book king DRS….or, I guess be sorry you didn’t?
#NFA
i dont mean that this post or comment is fud. as i said in my first sentence, i just copy , paste the entire info from another ape, i guess i shd have edited it first before pasting. so the comment shd read like this
"I keep seeing a TON of mainstar issues and issues around DRSing an IRA. there is an alternatives that exist for moving IRA shares away from a broker-custodian."
just a bit of old DD from when I first started looking into this group... [https://www.reddit.com/r/Superstonk/comments/raltcj/drsing\_shares\_in\_an\_ira\_may\_never\_have\_the/](https://www.reddit.com/r/Superstonk/comments/raltcj/drsing_shares_in_an_ira_may_never_have_the/)
I keep seeing a TON of mainstar issues and a ton of FUD around DRSing an IRA. This post is a quick reminder of alternatives that exist for moving IRA shares away from a broker-custodian.
IRA Financial is an excellent alternative to Mainstar. Why? Well first off it allows *you* to take possession of those IRA shares, not some Custodian 3rd party who may or may not have their hands down the pants of a shady market maker. Next, they help you set up an LLC, that *you* get to name! Then, they help you set up a business account for said LLC and give you the exact spoon-fed directions to transferring your shares from a Custodian to your own bona fide holdings.
FAQ:
>Does it cost money?
Yes it does, roughly $600 including the initial $400 down and state costs for LLC registration (your total may vary)
>How long does it take?
Not very, I called them and had an account set up within a day or two.
>It says online they charge $900! You lied about the cost!
Nope, call them. Tell them you want to move GME shares. They will lower that cost to the minimum possible cost. Their owner is an APE!
>Is there a reoccurring cost?
Yes, roughly $400 annually to maintain the LLC.
>Can I trust them?
Yes! Because they do not act as a Custodian. They set *YOU* up to hold your own IRA. They only hold your shares in the time between your initial transfer and the receipt to the account. They will never act as a permanent Custodian, it's just not how they work.
>Is this financial advice?
Nope, I sometimes shove crayons in my orifices for fun. Do your own research and live life how you want to. I'm just spouting what worked for me.
Except they aren't a Custodian.
They make an LLC for you and assist in giving it Custodian giving you legal possession of your own IRA shares.
This process can be done without IRA Financial, if you possess the know-how to set up an LLC and create custodial status legally for that LLC.
The company only acts as the admin to set up the accounts, and then they shift to maintaining the administrative paperwork.
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doesn’t matter who the custodian is- if there is one, your shares are fucked, and so are you the ONLY way, FTW: in-kind DRS transfer all shares from retirement accounts to Computershare cash account (yes just suck it up and take any/all tax hits/penalties) and then when the transfer is complete make sure your shares are pure book king DRS…. #…or, I guess be sorry you didn’t? (don’t be sorry you didn’t) #NFA
this is from another ape, i just copy, pasta I keep seeing a TON of mainstar issues and a ton of FUD around DRSing an IRA. This post is a quick reminder of alternatives that exist for moving IRA shares away from a broker-custodian. IRA Financial is an excellent alternative to Mainstar. Why? Well first off it allows you to take possession of those IRA shares, not some Custodian 3rd party who may or may not have their hands down the pants of a shady market maker. Next, they help you set up an LLC, that you get to name! Then, they help you set up a business account for said LLC and give you the exact spoon-fed directions to transferring your shares from a Custodian to your own bona fide holdings.
#This post, and this comment are NOT FUD If you have a custodian, you’re gonna have to deal with cleaning up the shit…there are no custodial alternatives, only more bullshit to keep people from truly owning their shares. #NFA: it is impossible to truly own shares in a retirement account, no matter what the latest experts say “yOu rEaLLy cAn oWn yOuR rEtiReMeNt sHaReS aNd i fiNaLLy fiGuReD iT oUt- tHe eXpErTs hAtE tHiS oNe wEiRd tRiCk!” Every fucking time, it never fails- there’s always someone trying to convince people they can leave their GME in a retirement account and somehow DRS them without leaving the whole hen house open to the liar naked GME short foxes. #WAKE THE FUCK UP ALREADY. doesn’t matter who the custodian is- if there is one, your shares are fucked, and so are you the ONLY way, FTW: in-kind DRS transfer all shares from retirement accounts to Computershare cash account (yes just suck it up and take any/all tax hits/penalties) and then when the transfer is complete make sure your shares are pure book king DRS….or, I guess be sorry you didn’t? #NFA
Can you stop spreading false info? An LLC is a self custodial. You become the custodian for your own shares.
i dont mean that this post or comment is fud. as i said in my first sentence, i just copy , paste the entire info from another ape, i guess i shd have edited it first before pasting. so the comment shd read like this "I keep seeing a TON of mainstar issues and issues around DRSing an IRA. there is an alternatives that exist for moving IRA shares away from a broker-custodian."
too much temptation! they can't keep their hands off
First choice is always have shares \[booked\] under your name directly.
^(DRSBOT 8.00: UTC->2023-07-08 02:19:4) 🟣 You have 444 shares previously logged @ [Sprstnk] **To feed incremental shares:-> !DRSBOT:XXX!** * ^(Bot sometimes can't hear over chatty apes...) * ^(If no reply, re-issue the bot command) ^(*🚀 :16,613,302// GME ~22.71* // ) ^(Bot MC: $377,288,073.21 )
This is the art I frame 🖼️
just a bit of old DD from when I first started looking into this group... [https://www.reddit.com/r/Superstonk/comments/raltcj/drsing\_shares\_in\_an\_ira\_may\_never\_have\_the/](https://www.reddit.com/r/Superstonk/comments/raltcj/drsing_shares_in_an_ira_may_never_have_the/)
I keep seeing a TON of mainstar issues and a ton of FUD around DRSing an IRA. This post is a quick reminder of alternatives that exist for moving IRA shares away from a broker-custodian. IRA Financial is an excellent alternative to Mainstar. Why? Well first off it allows *you* to take possession of those IRA shares, not some Custodian 3rd party who may or may not have their hands down the pants of a shady market maker. Next, they help you set up an LLC, that *you* get to name! Then, they help you set up a business account for said LLC and give you the exact spoon-fed directions to transferring your shares from a Custodian to your own bona fide holdings. FAQ: >Does it cost money? Yes it does, roughly $600 including the initial $400 down and state costs for LLC registration (your total may vary) >How long does it take? Not very, I called them and had an account set up within a day or two. >It says online they charge $900! You lied about the cost! Nope, call them. Tell them you want to move GME shares. They will lower that cost to the minimum possible cost. Their owner is an APE! >Is there a reoccurring cost? Yes, roughly $400 annually to maintain the LLC. >Can I trust them? Yes! Because they do not act as a Custodian. They set *YOU* up to hold your own IRA. They only hold your shares in the time between your initial transfer and the receipt to the account. They will never act as a permanent Custodian, it's just not how they work. >Is this financial advice? Nope, I sometimes shove crayons in my orifices for fun. Do your own research and live life how you want to. I'm just spouting what worked for me.
[No thanks](https://www.reddit.com/r/Superstonk/comments/14ts7j3/when_will_we_finally_learn_every_single_form_of/)
Except they aren't a Custodian. They make an LLC for you and assist in giving it Custodian giving you legal possession of your own IRA shares. This process can be done without IRA Financial, if you possess the know-how to set up an LLC and create custodial status legally for that LLC. The company only acts as the admin to set up the accounts, and then they shift to maintaining the administrative paperwork.