Ever wonder what happens if money disappears from your IRA — and the IRS still expects their cut?

Most people believe market volatility is the biggest threat to their retirement, but this episode exposes a far more unsettling reality: retirement account fraud caused by an unauthorized withdrawal can happen quietly, and the consequences don’t stop with the missing money. When this occurs, questions around custodian responsibility become critical — and painfully confusing.

In today’s episode, Ray walks through a real-world case involving a hacked retirement account, explaining how custodians process transactions, why advisors don’t actually hold your money, and what happens when fraud slips through the cracks. You’ll hear how delays, internal procedures, and reporting rules can leave investors stuck in limbo — facing tax notices, potential Medicare premium increases, and months of uncertainty.

By listening, you’ll learn:

How retirement account fraud actually occurs — even at major custodians with fraud detection systems
What custodian responsibility truly means when an unauthorized withdrawal is processed
How the IRS treats unauthorized withdrawals and what determines whether you owe taxes or not

If you want to understand how to protect your retirement accounts, respond quickly to suspicious activity, and avoid costly tax surprises, this episode will change the way you think about custodians, advisors, and trust itself.

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Ep26 | The Uncomfortable Truth About Custodian Responsibility (When Retirement Account Fraud Starts With an Unauthorized Withdrawal)