Year end fair market valuation in SDIRA

[Todd Willhoite]

I opened a Self directed IRA this year and purchased a small interest in a private placement LLC. (The LLC has just gotten started, raised money, bought two parcels of real estate, and have contracts on a few others.) My IRA custodian says they must have a Fair Market Valuation of my interest in the investment by a third party by January 31st. The people running the private placement LLC act like they can't provide that information before the 31st. What are some practical ways to get this accomplished? What happens if I can't provide it in time?