W9 requested by investment sponsor

[David Eng]

I have created a self-directed IRA LLC for investment into a commercial real estate venture. The sponsor has asked that I complete a W9, which has generated much confusion among them, my CPA, the advisor that helped me set up the LLC, and myself. We mostly agree that the IRA Custodial account goes into line 1 and the LLC name goes into line 2.

But which box do I check in section 3? One person says click "C corp" because that's what the custodian is. However, others say to click "single-member LLC", because that describes the LLC, which actually is investing in the project.

Also, which address do I enter into lines 5 and 6? The address of the custodian or the address of the LLC?

Thanks for any help clearing this up among all of us!

Dave

[Michael Plaks]

@David Eng

You should upgrade your advisors and hire people who know what they're doing, like @Brian Eastman. If you have to rely on BP to check your advisors' advice - they are not advisors.

One of the most fundamental advice they apparently failed to give you is that you and your SDIRA are completely divorced from each other. In fact, you and your IRA have a restraining order against each other and cannot come close.

You're still thinking: this is my money, and if I pay for related expenses and travel, it is my business and my deductions. Need to retrain yourself to think differently ASAP. This is your SDIRA's business, not yours. 

No deductions for you. But also - and this is the whole point of SDIRA! - no taxes for you!