Self-Directed Solo 401k for Notes needs LLC?

[Jared W Smith]

Hello all,

As the title implies, I have set up my self-directed solo QRP 401k with checkbook control and trying to set up a business account. I know there are three known banks that deal with self-directed accounts but wanted to see if I could establish an account at my local bank. They just need the Articles of Organization to match the 401k, essentially saying there must be an LLC, to open the bank account. The plan is I will be utilizing account for Note investing. Have others gone this route? Experiences?

thanks
Jared

[Alecia Bolton]

What Dmitriy said. I have a solo401k at Solera and I purchase notes directly in the trust entity. I didn't set up another LLC. Your 401k creator should be able to help guide you through this.

Make sure all expenses are done through the trust bank account.