Setting up a SDIRA - Need help

[Jillian Johnson]

I currently have some money in an old 401K and a traditional IRA that I would like to roll over into a SDIRA. I am doing a lot of reading on how to use these funds but I really need to find someone to work with that will make sure I do everything right and not get myself into trouble.

Does anyone have any recommendations of people and companies they have worked with in the past that has helped them. 

Thanks 

[Mark Nolan]

@Jillian Johnson

Following is some information regarding the self-directed IRA LLC.

The Checkbook IRA Do’s

Do open the checkbook IRA bank account in the name of the LLC, not in your personal name.

Do use the LLC employer identification number (EIN) when opening the checkbook IRA bank account.

Do title checkbook IRA investments in the name of the LLC, not your personal name.

Do pay investment expenses associated with the checkbook IRA assets (e.g. for a real-estate property, this entails paying property taxes, property insurance and repair costs) using checkbook IRA funds not personal funds.

Do deposit investment gains into the checkbook IRA bank account.

Do manage the checkbook IRA but do not receive compensation for doing so.

Do make IRA annual contributions to the self-directed IRA first not the checkbook IRA.

The Don’ts

Do not use the checkbook IRA funds for your personal use.

Do not use the checkbook IRA assets (e.g., for a rental property, do not live or vacation in the property).

Do not perform repairs on real-estate property owned by the checkbook IRA as you are a disqualified party.

Do not deposit personal funds into the checkbook IRA bank account.

Court cases that support the Checkbook IRA arrangement

Swanson v. Commissioner

Hallweg V. Commissioner

ERISA Advisory Opinion 97-23A