A. Only certain organizations can open an Individual Retirement Account for you. They are called trustees or custodians. The IRS may approve certain financial institutions, mutual funds, stock brokerage firms, or insurance companies to act as a trustee or custodian for IRAs. You may also choose to open your IRA through a bank, a savings and loan association, or a federally insured credit union. It takes a written document to open your IRA and it must be done in the United States.

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