How an IRA LLC Works
1. We will set up your Self Directed IRA LLC in the state of your choice, prepare the Operating Agreement and obtain the EIN from the IRS.
2. You will need to transfer funds (IRA, 401K, or other qualified plan) from your Current Custodian (if they do not allow truly Self Directed IRA’s) or 401K Plan Administrator directly to an IRA approved Custodian that allows truly Self Directed IRA investments. Self Directed IRA LLC can provide you with an IRS approved custodian that allows truly self directed IRA’s (we have no financial relationship with the custodian)..
3. You will then direct the Custodian to make the investment in your new Self Directed IRA LLC.
4. You will open a local bank account for your LLC at a local bank of your choice. We will provide you with the documentation (Articles of Organization, EIN, Operating Agreement) necessary to open the account.
5. You will issue a membership certificate to the Custodian who will hold the the membership interest on behalf of your IRA. The LLC is owned by your IRA.
6. You as the Manager of the LLC will select a suitable investment.
7. You as Manager write a check from the LLC bank account to purchase the investment.
8. The investment is purchased in the name of your Self Directed IRA LLC. All income from the investment goes into the LLC bank account tax deferred. All expenses of the investment are paid from the LLC bank account.
9. You as manager of the LLC have full control of your funds and investments.