CNB Custody, a division of Community National Bank, is now able to custody direct real estate investments within self-directed individual retirement accounts.
Jenny Heiman, senior vice president of operations, said that the decision to offer real estate was made “because we saw a need in the marketplace for a custodian to provide a high level of customer service with reasonable fees to hold direct real estate within IRAs. We believe our solution will help real estate investors navigate through the complexities of adding direct real estate to an IRA.”
CNB charges a set fee per property held rather than charging based on the value of the real estate asset.
CNB Custody provides administration and custody services for alternative and traditional investments in Roth IRAs, Traditional IRAs and simplified employee pension plans as well as other types of non-qualified accounts.