Why Choose Checkbook Control IRA LLC?
How To Set Up a Self-Directed IRA LLC?
Open and Fund your Self-Directed IRA
Complete the MyDirect IRA LLC online application “HERE”. Next, you’ll receive a 2nd online application via email to establish your new Self-Directed IRA (if needed*) If you already have a SDIRA in place, you’ll need to provide your custodian name in the MyDirect IRA LLC application, then begin to fund the new SDIRA account via IRA Transfer, Rollover or Annual Contribution.
Establish an LLC owned by your Self-Directed IRA
MyDirect IRA will create a specialized, IRS-compliant LLC on your behalf, that is owned by your SDIRA. We file to form the LLC in your selected State, retrieve your EIN, and draft the IRS-compliant Operating Agreement. We appoint the Manager, and provide all necessary documents for you to open the LLC bank account, at the banking institution of your choice.
Open an LLC Checking Account & Fund the LLC
With the documentation provided by MyDirect, you’ll be tasked with opening the LLC business checking account. You can open the LLC checking account with any bank or credit union YOU PREFER. Once opened, MyDirect IRA will then draft the final documentation for you to sign, moving your IRA cash into the new LLC checking account you just established.
Invest in What You Know and Understand, Immediately!
Once your retirement cash is moved to the LLC checking account, you’re free to begin investing right away. In the case of a Real Estate purchase, it’s as easy as writing a purchase contract in the name of your new LLC, and once your offer is accepted, you’ll send a wire, yourself, to escrow for your earnest money deposit.
Open and Fund your Self-Directed IRA
Complete the MyDirect IRA LLC online application “HERE”. Next, you’ll receive a 2nd online application via email to establish your new Self-Directed IRA (if needed*) If you already have a SDIRA in place, you’ll need to provide your custodian name in the MyDirect IRA LLC application, then begin to fund the new SDIRA account via IRA Transfer, Rollover or Annual Contribution.
Establish an LLC owned by your Self-Directed IRA
MyDirect IRA will create a specialized, IRS-compliant LLC on your behalf, that is owned by your SDIRA. We file to form the LLC in your selected State, retrieve your EIN, and draft the IRS-compliant Operating Agreement. We appoint the Manager, and provide all necessary documents for you to open the LLC bank account, at the banking institution of your choice.
Open an LLC Checking Account & Fund the LLC
With the documentation provided by MyDirect, you’ll be tasked with opening the LLC business checking account. You can open the LLC checking account with any bank or credit union YOU PREFER. Once opened, MyDirect IRA will then draft the final documentation for you to sign, moving your IRA cash into the new LLC checking account you just established.
Invest in What You Know and Understand, Immediately!
Once your retirement cash is moved to the LLC checking account, you’re free to begin investing right away. In the case of a Real Estate purchase, it’s as easy as writing a purchase contract in the name of your new LLC, and once your offer is accepted, you’ll send a wire, yourself, to escrow for your earnest money deposit.
How the Checkbook IRA Works?
The Checkbook IRA is a perfect solution for individuals that want greater control with fewer fees.
What Can an IRA LLC Invest In?
With a Self-Directed IRA LLC with checkbook control, you have the freedom to invest in almost any asset. A Checkbook IRA LLC is ideal for time-sensitive investments and investments with many transactions, as all transactions can be completed quickly and easily.
Here are some investments you can make with a Self-Directed IRA LLC:
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Real Estate (rental properties, raw land, single and multi-family, residential and commercial, Syndications, REITS, farmland and beyond!)
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Cryptocurrencies
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Private Business and Startups
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Tax Liens and Deeds
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Private Loans
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Limited Liability Companies (LLCs) and Partnerships
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Private Placements
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Hedge Funds
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And any other IRS-compliant alternative assets!
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Real Estate (rental properties, raw land, single and multi-family, residential and commercial, Syndications, REITS, farmland and beyond!)
-
Cryptocurrencies
-
Private Business and Startups
-
Tax Liens and Deeds
-
Private Loans
-
Limited Liability Companies (LLCs) and Partnerships
-
Private Placements
-
Hedge Funds
-
And any other IRS-compliant alternative assets!
Full Checkbook Control
The investment process for a Self-Directed IRA LLC with checkbook control is easy and hassle-free. Purchase an asset by simply writing a check or sending a wire from your dedicated checking account and the asset is automatically owned by your IRA.
Maximum Wealth for Retirement
The dedicated IRA LLC checking account allows you to make investments in real time and avoid the expensive transaction fees that are normally associated with Self-Directed IRAs.
Superior Liability Protection
Unlike other self-directed retirement plans, an LLC provides asset protection that safeguards the IRA, IRA owner, and IRA custodian from liabilities that may arise from investments owned by the IRA LLC. This additional layer of liability protection is not found in a classic Self-Directed IRA.
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