The list contains only non-bank trustees and custodians approved by the IRS to serve as IRA custodians. It does not include those entities that qualify as banks under the Internal Revenue Service guidelines, under which Kingdom Trust qualifies.
IRC Title 26 Sec. 408 states that an IRA must meet the following requirements:
Section (n) references 26 USC 581 and its definition of “bank”:
Kingdom Trust is a state-charted trust company that is registered in the state of South Dakota and regulated by the South Dakota Division of Banking. You may view a listing of trust companies that are chartered to do business in South Dakota here: https://dlr.sd.gov/banking/licensed_providers/state_chartered_trust_companies.pdf