You Are Here: Services > IRA Administration

IRA Administration

Alpha & Omega Inc has a long history of providing Individual Retirement Account Administration for financial institutions. IRAs today have become a significant component for an individual's future retirement planning needs. For institutions these assets can represent significant long term deposits and enhanced profitability. Given the significance of these assets to the beneficiary of the IRA and the institution, both parties must be assured that these assets are being handled properly. Couple this with the Internal Revenue Service's (IRS) strict compliance and fiduciary requirements, IRA administration requires expertise and professionally trained personnel operating the call center to work with the customer. Alpha & Omega, Inc. can provide that expertise.

To properly administer IRAs, financial institutions must be equipped to satisfy both their customers and the IRS. Administering IRAs often means using the services of an outside administrator. In today's economic and competitive IRA market, finding qualified administrative services at a reasonable price is a key to offering a profitable IRA program. Alpha & Omega, Inc. is committed to being your partner in helping you offer quality IRA service at an affordable price.

We have the technical expertise and staff to properly administer your IRAs, at prices that are very competitive. We can accept information either electronically or on printed materials. Reports can also be provided to you either electronically or as a hardcopy, whatever is more convenient for you.

When we administer your accounts, we will:

  • Prepare all necessary government reports, such as 5498s, 1099-Rs.
  • Prepare customer statements and various other reports for you and your customer.
  • Inform you when customers must take distributions and process all distributions on your behalf, issuing the check, handling all regulations , filing of State and Federal Tax withholdings
  • We will prepare notice informing each IRA holder that turns age 70 and the RMD requirements
  • Adjudicate all qualified domestic relations issues that come up, periodically.
  • We will produce and mail RMD letters for your customers, printing the minimum $-amount
  • Provide access to our toll-free consulting call center
  • Submit required reports to the IRS electronically as needed
  • All account are credited with interest monthly

Find out why many community banks, holding companies, credit unions, and other financial services providers trust their IRA compliance to Alpha & Omega, Inc.