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Updated about 6 years ago,

User Stats

110
Posts
106
Votes
Greg Junge
  • Realtor
  • Phoenix, AZ
106
Votes |
110
Posts

Sdira checkbook question

Greg Junge
  • Realtor
  • Phoenix, AZ
Posted
I just opened a self directed IRA and transferred my money to this brokerage who specializes in self directed IRA's. I want to open up a checking account and have all the paperwork in place. Let's call it 70k that's currently with this brokerage. My question is, when I go to Chase Bank to open this LLC bank account, which isn't an issue with them, do I then transfer that 70k directly from my brokerage to that LLC checking account with Chase? Is that the legal move to do since I have the paperwork set up already for the sdira and LLC bank account being linked? Chase has a minimum of $1500 that I need to keep in the checking account to avoid fees, which isn't a problem. Any help is appreciated!

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