New York, NY securities attorney Jenice L. Malecki talks about the obligations of a custodian or administrator of a self-directed IRA. She notes that the obligations of a custodian or administrator of a self-directed IRA are extremely limited, often narrowly defined by contracts that courts have upheld. Unless the custodian was knowingly involved in a scam or had clear knowledge of wrongdoing, it is highly unlikely that liability could be established against them. Cases targeting custodians or administrators of self-directed IRAs are very difficult to pursue and would require exceptionally compelling evidence.