If you are hearing about everyone getting distributions from the Woodbridge Chapter 11 rehabilitation trust and you checked your IRA account and don’t see anything … hold on. The way these generally work, the IRA custodian gets ONE master check from Woodbridge with a break down of all the SSN’s (people) contained in that one check
The custodian will take 5 or so days to post those deposits into everyone’s IRA’s. So its just some internal accounting work that has to go on at the custodian before you see your deposit post. I’m more familiar with Provident Trust, here’s a link to their site showing updates Trust Provident.com
Distributions are set (at this point) for quarterly and will vary based on what real estate gets sold / closed. So the distributions will be lumpy but I’m guessing with how real estate generally works … should be larger in the late Summer as contracts seem to sell better in early Spring then take 90 days to close.
One thought on “Self directed IRA’s with Custodians”
If this indeed has been determined by the court to be an illegal ponzi scheme. Why are the culprits/debtors allowed chapter 11 protection? Also as this is a major felony, ( just ask Bernie Madoff ), why no arrests, prosecution or indictments? The SEC fined Shapiro approximately 100 million but no charges.