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Updated almost 13 years ago on . Most recent reply

User Stats

5
Posts
2
Votes
Charles Cook
  • Burlingame, CA
2
Votes |
5
Posts

Question about account opening bonus for IRA-LLC business checking account

Charles Cook
  • Burlingame, CA
Posted

Hi everyone - Just getting started on BP (my first post here!) and with my first investment from SD IRA. I have already setup the IRA with a custodian, and am in the process of incorporating a special purpose LLC to make it into a checkbook IRA. I have been researching banks to open the business checking account for the LLC. Most of them have fees etc. The only one I found that doesn't have an a/c maintenance fee is Capital One. They also offer $200 account opening bonus if you deposit $5000. My question is does this account opening bonus in any way jeopardize the tax status of the IRA-LLC i.e. is this a disqualified transaction?

I've been reading up a lot in the last few days, and the forums here have a wealth of information. Thanks!

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