This structure has become a popular choice for gaining “checkbook control” of an IRA. An IRA is opened and funded at a custodian. A Special Purpose LLC is created, and the account owner directs the custodian to purchase and fund the LLC, which is managed by the IRA owner. The result is that you have a legally allowable (substantiated through case law) method of transacting at the LLC level without needing to involve the custodian. This method is sometimes used to cut down on any wasted time in signing contracts and checks, and it also allows the IRA to not be subjected to transaction-based fees from the custodian.
Our IRA LLC establishment service includes:
- Filing Articles of Organization with Secretary of State
- Securing a registered agent, if necessary
- Obtaining Employer Identification Number from IRS
- Records Book
- Operating Agreement
- Organizational Minutes
- Ownership certificates
- Appendix with supporting relevant documents including Department of Labor Advisory Opinions and attorney commentary
The IRA LLC was created by Debra Buchanan, attorney and co-founder of Guidant Legal Group. Debra moved on to join forces with Jeff Nabers to co-develop the Self-Directed IRA LLC further to fix certain early problems and limitations.
When you receive your IRA LLC binder, it is ready to use. All you have to do is follow the included instructions to open a checking account, as manager of the LLC, at your favorite bank.
Where to Start
While the Self-Directed IRA LLC can give you control of your IRA and 401(k) savings, it can only help when coupled with effective investment strategy.
Pioneer and co-developer of the Self-Directed IRA LLC, Jeff Nabers is teaching a special free online training this week: Why & How to Get Out of the Wall Street Banking System Now (…While You Still Can!)
A limited number of seats are available, and you can learn more (and check seat availability) as you begin your Self-Directed Investing journey now.