Save My Self Directed IRA

Midland Trust logo

Save My Self Directed IRA

Midland has become aware of new legislation that will affect retirement accounts. This is the first time in 47 years that any changes in investment choices have been proposed for IRA accounts. This is currently in House Reconciliation Bill SEC. 138312 and 138314. These two provisions will directly affect everyone who holds a retirement account as well as those businesses who accept IRA investors. It should be a cause of serious concern.

This bill is reactionary and seeks to punish a small percentage of individuals who have grown their IRA to large amounts. What it does not account for is the average, everyday investors who are choosing to Self-Direct and who are not uber-rich. This sweeping legislation punishes thousands of unintended victims in its pursuit of a few outliers who have grown their retirement accounts above what the government thinks is reasonable.

Midland does not support these provisions in any way, specifically the restrictions on limiting accredited investments. This bill would eliminate the ability to invest in most private placements and require current investors to remove their IRA stake in these holdings within 2 years. Midland feels that Americans should be able to make their own investment decisions and not be forced into mostly Wall Street assets.

We recommend clients write a letter to their legislators and specifically anyone on the House Ways and Means Committee. We have drafted templates (below) for you to copy and paste and we have provided a link for you to find the email for your elected officials.

If we learn any additional information, we will post to this page.

Don’t let Congress eliminate self-directed IRAs, stop Section 138312.

The benefits of IRA investing into private assets include:

  1. The taxpayer has increased choice for investments
  2. Accredited Investors are qualified individuals that understand complex transactions
  3. Additional cash from IRAs increase the credit risk of the assets
  4. IRA investing help generate jobs, income, and value add to the economy
  5. Encourage more efficient employment of capital via IRAs

Please contact your Congressional representative today.

How It Affects IRA Holders

Individual IRA Holders

LLCs

Suggested Content for Your Letter

How It Affects Those Who Accept IRA Investors

Those Who Accept IRA Money – Investment Sponsors

Those Who Accept IRA Investors - Advisors

Suggested Content for Your Letter