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Updated about 5 years ago, 09/02/2019

User Stats

317
Posts
71
Votes
Paul Winka
  • Rental Property Investor
  • St Louis, MO
71
Votes |
317
Posts

Set up my own LLC for checkbook SDIRA or hire someone else?

Paul Winka
  • Rental Property Investor
  • St Louis, MO
Posted

I've set up my own LLC before in Missouri. It takes less than 30 minutes and costs around $55. I once paid a princely amount to attorney to do that for me and it took 3 weeks. I learned my lesson. So...

But what about setting up an LLC with checkbook control to use with a SD-IRA? Is this something I can handle myself with a few templates or should I should I hire a specialist, and how much could I expect to pay them? My local attorney wasn't able to assist.

And between checkbook controlled SD-IRA and a SD solo 401K, the latter is recommended by several here on BP. Can I convert the IRA to a 401K?

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