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Updated almost 5 years ago on . Most recent reply

Pamela Johnson's profile image
Pamela Johnson's profile image
Pamela Johnson
  • from Buffalo, NY
  • Member since Feb 5, 2019
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Pamela Johnson's profile image
Pamela Johnson's profile image
Pamela Johnson
  • from Buffalo, NY
  • Member since Feb 5, 2019
Connect
Pamela Johnson
  • Buffalo, NY
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Tax, SDIRAs & Cost Segregation

Contract btwn IRA/LLC and An Individial

Pamela Johnson
  • Buffalo, NY
Posted

I recently created an IRA/LLC. My IRA/LLC's Operating Agreement has a TON of language regarding what it can and can't do because it's owned by a qualified plan.

I'm in the process of forming a partnership LLC with an individual and my IRA/LLC. Is it necessary to reference the same "qualified plan" language in the new LLC? Or is it good enough for language to be present that restricts prohibited transactions?

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