Prohibited Transactions Advice

[Matthew Will]

One of my IRAs is housed at a traditional broker and is invested in a Private Equity Fund. This was before I knew of self directed IRAs. I now have established a Checkbook IRA (SDIRA LLC) which owns shares of a different PE Fund. May I direct my existing IRA, housed at the broker, to sell the PE Fund to my SDIRA LLC? Obviously, I'd prefer to have it housed in my SDIRA LLC.

[Dmitriy Fomichenko]

No you can't, but you should be able to rollover your IRA into your self-directed and then into the LLC.