No. The most significant cost benefit of the self-directed 401(k) is that it does not require the participant to hire a bank or trust company to serve as trustee. This flexibility of the plan and its plan documents permits the self-employed business owner to wear both hats….one as the participant and one as the Trustee of the plan.
This means that all assets of the 401(k) trust are under the sole authority of the self-directed 401(k) Trustee. This permits you to eliminate the expense and delays associated with an either an IRA or 401(k) custodian, enabling you to act quickly when the right investment opportunity presents itself….and, save by having no custodian fees.
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