Self Directed IRA LLC

[Michael Prakash]

Would I be able to set up a Self Directed LLC with checkbook control in Wyoming for properties my IRA owns in PA for managing expenses? If so how much does it cost and are there reputable companies that would set this entity up for me ?

[Brian Eastman]

@Michael Prakash

Yes, you could use a Wyoming LLC as a checkbook IRA. For purposes of investing in Pennsylvania, that likely does not create any meaningful benefit however.

The LLC will have nexus in PA, and therefore need to register in PA as a foreign entity in order to be compliant with PA state law and have access to the courts of PA to pursue or defend a legal action.

WY just becomes extra expense with little benefit. The IRA is the owner and not taxed on income, so WY's favorable tax status do not add value.