Open LLC Bank Account
You will need to open a local checking account for your new LLC …this is what gives you “checkbook control”. You will be able write checks on this account to purchase investments, pay the expenses of the LLC and also to receive the income from the investment.
After your funds have been transferred from your previous custodian to your new Custodian you will then instruct the custodian to make the investment in your LLC . The custodian will send you a check payable to the LLC and you will use this check to open the LLC bank account. There are several requirements for the checking account.
- The account needs to be in the name of your LLC – not in your personal name.
- The account needs to be a checking account.
- The account is a normal LLC business checking account there are no special requirements.
It is recommended that you open the checking account at a local commercial bank or a community bank that can offer business checking accounts. Credit Unions are usually not a good choice as they are not geared to business accounts.
You should contact your bank and explain what type of account you will be needing. The bank will require a copy of the Articles of Organization that you received from the Secretary of State’s office in the state where you filed your LLC’s Articles of Organization. The bank will also need a copy of your LLC Operating Agreement and the Employer Identification Number (EIN).
You as Manager of the LLC will be the “signer” on the account and responsible for keeping all account records. We recommend using a software program like Quickbooks for keeping all account records. It will make your job much easier.
Let us make it simple for you!…Call us now and you will have your Self Directed IRA LLC completely set up usually within 30 days….The hardest part will be making the call! Call us now!
Read what our customers have to say……
T E S T I M O N I A L S
This has been a high-value experience. ….has been very responsive to questions and his delivery has exceeded my expectations – an unusual experience for today’s consumers.”–Brian Springmann – Mont Vernon, NH
Actually, I want to thank YOU for setting me up with this LLC and for recommending the trustee. This is by far the smartest thing I’ve ever done in my investment life. When I left my previous employer I rolled over my 401K, and since I had always contributed the max, it was a good chunk. I’ve averaged over 9% annually, mostly through private lending. I’ve heard so many horror stories from people … custodians charging them a fee every time they want to make an investment, delays so long that the deal falls apart while the custodian micro manages every detail of the investment, etc. So when people start whining about their self-directed IRA’s, I just say, “Well, you just didn’t do it the right way, that’s all!”. And then I email them your contact info and the contact info for my custodian.”–Matt Taylor – Weare, NH
Just wanted to write a note and thank you for your help in answering my many questions and then setting up my IRA LLC. In spite of what I would considered a complicated process, you guided me through it with speed and efficiency. Your service has to be the easiest to work with. You allowed me to purchase an investment property in time to get the great deal I was looking for and that alone justified the cost. Please feel free to use my name or contact information if you need it.Thank you again”–Doug Ness – O’Fallon, MO
I located Self Directed IRA LLC through the Better Business Bureau. They had 0 complaints over the past few years so I called them. I found their services to be excellent. My phone calls were always promptly answered or returned, and my questions answered clearly and thoroughly. All documents were sent quickly, and in about one month I had transferred my pension funds out of Wall Street, where they had been losing money consistently, and invested in a rental property which will net us at least 8% interest per year.I recommend them without reservation.”–Douglas Booth, Attorney at Law – Santa Fe, NM
Thank you for all your superb assistance today. I know I made a great decision in choosing the right firm and the right person by you demonstrating your expediency, accessibility, knowledge and competency throughout the first day. Once again “thank you!–Richard Ehlers – Hoffman Estates, IL
You more than met our needs in setting up our LLC with great efficiency in time and expense. Excellent company that understands their business and the needs of their customers!!”–Carl NcNew – White Salmon, WA
I highly recommend IRA LLC to any body who is looking for help..very well knowledgable in the subject..very trust worthy.”–Franklin Ajjarapu- Libertyville, IL
…… knows his business very well. He has steered me succinctly and well through the complicated steps of forming and optimizing my IRA.”
–Jonathan Lysenko – New Canaan, CT
I was very pleased with the handling of my IRA transactions by your firm, and I would not hesitate to use your services again in the future.”
–John Bagoy – Coquille, OR
All interactions with staff have been very professional, with helpful, knowledgeable, and timely handling of my and my other family members IRAS.”–James Mynatt – Atlanta, GA
Call Now…We Make it Simple