Equity Trust Company ETC's inability to follow directions cost me thousands of dollars - be careful, be very careful when dealing with them Elyria, Ohio

After a number of failed attempts to use their self directed IRA services to purchase some real estate, Equity Trust Company was instructed to roll-over all funds to an eTrade IRA account.    I consulted them over the telephone to make sure all documents were properly completed.   Ten months later I received a 1099-R showing the entire amount as a taxable distribution.    This is costing me thousands of dollars in legal and accounting fees to straighten it out with the IRS and a great deal of aggravation.

I would avoid using their services but if you must interface with them, consider doing so through a lawyer and an accountant - the additional cost will pay off in spades.