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Can an IRA establish a trust with checking thus bypassing the LLC IRA

by Mark Nolan on 04/18/13

QUESTION: I read that an IRA can establish a trust with checking thus bypassing the LLC IRA arrangement. True or false?

ANSWER: I know that in the last year or so certain IRA facilitators have been promoting the trust concept whereby the self-directed IRA invests is a trust and thus is the sole member of the trust, but I don't think the trust concept has been tested by the regulations like the self-directed IRA LLC has. In other words, I don't know of any court cases that address a trust can be 100% owned by an IRA. On the other hand, the Swanson Court case supports the IRA LLC arrangement but not the trust arrangement.


Rick in CA

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