For qualified plans (for example, the Traditional IRA), we assist you in establishing your account by providing the plan documents, which are qualified under the IRS code. IRA Innovations also provides record keeping services for the plan assets you elect. You may also Do Your Own plan, where IRA Innovations is the plan sponsor, and you perform your own record keeping functions. For IRAs, IRA Innovations acts as agent for custodial banks and other banks and depositories. All un-invested cash is placed in FDIC insured institutions for your benefit.