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AN IMPORTANT MESSAGE FOR TAXPAYERS WITH IRAs
THE IRS DOES NOT APPROVE IRA INVESTMENTS

If you have an Individual Retirement Arrangement (IRA), you should be alert to questionable advertisements and solicitations for "IRS-Approved" or "IRA-Approved" investments. These advertisements or solicitations, often for highly speculative types of investments, mislead by falsely claiming that the Internal Revenue Service has approved a particular investment. The IRS does not approve any forms of IRA investments.

HERE'S AN EXAMPLE OF A FRAUDULENT "APPROVED IRA" SALES PITCH:

"This investment has been approved for your IRA. You can use your IRA for this investment by filling out the forms in the attached information package, and our agent will take care of the rest. This has been reviewed by the government (or IRS). This investment is so safe you can use it for your IRA. Only certain investments are approved for IRAs."

THE FACTS

The IRS does issue letters to IRA sponsors, trustees and custodians certifying that they are complying with requirements concerning investor rights, account administration, and standards that allow contributions to be deductible.

The IRS does not

• review or approve investments
• endorse any investments
• advise people on how to invest their IRAs
• issue any statement that an investment in an IRA is protected because a particular trustee or custodian has been approved by the IRS.