Checkbook Control of Self-Directed IRA

[Gary Burnett]

Hi-

I have a SDIRA and would like to register an LLC in New Jersey for checkbook control. Is it mandatory to use an attorney to register the LLC? If not, what are the alternatives?

Thanks.

[Brian Eastman]

@Gary Burnett

A LLC owned by an IRA is not a DIY project.

Firstly, you can create issues surrounding self-dealing violations through the provision of services if you do the work yourself and pay for state fees personally.

The LLC itself needs to be specially formed with respect to tax ID and operating agreement to be suitable for use by the IRA and acceptable to the IRA custodian as an investment.

Most importantly, firms that specialize in these structures provide guidance with respect to your usage of the IRA owned LLC and proper operation within the IRS guidelines. That guidance is the real value.