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Whenever you go looking for an IRA custodian, the main considerations are 1) investment types (stocks, bonds, mutual funds, etc), 2) costs, and 3) rules/convenience/etc.

If you plan to invest only in mutal funds, a major mutual fund house like Vanguard or Fidelity could be a good place to look. They have excellent mutual funds, good customer service functions and reasonable fees. For stocks or bonds, you may choose a discount broker. Most brokerage accounts allow a wide range of investments including mutual funds and stocks. These days, many mutual fund companies also have discount brokerage operations--giving them plenty of flexibility too.

The cost considerations are pretty straight forward. Most have an annual account maintenance fee--typically about $40. Some also have transaction fees, minimums, and if you plan on stocks, you will want to know about commissions. For mutual funds consider loads and other fees.

In the area of rules, especially after retirement, you may want to consider the distribution plans they offer and their convenience. Some will mail checks, some will use electronic transfers, some will direct deposit to brokerage accounts, etc. Choose the overall plan that best meets your needs and your goals.

As you say you don't need the funds and you face mandatory distribution, you may want to consider when to take the funds out of the account to minimize your income taxes. You can also consider various gifting strategies to move the funds out of your estate and perhaps to those who have a great need. Some methods such as charitable gifts or charitable remainder trusts could be used to reduce income taxes on the distributions and perhaps later estate taxes. Gifts to family members can be used to reduce estate taxes.

Best of luck to you.

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