How do I take required minimum distributions from my IRA LLC?

Self-directed IRA Question Answered – How do I take required minimum distributions from my IRA LLC?

IRA LLC RMD FAQ: How to take required minimum distributions?

I have a non-Roth IRA LLC that holds secured notes with payments being made back to the LLC.  I am 75 and need to take required minimum distributions.  Can I simply transfer the amount of the distribution from the LLC bank account? 

RESPONSE:

No – the distribution needs to be taken from the IRA account which means that the funds would first need to flow back to the IRA.

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About George Blower

I have the privilege of educating our clients about our products and services so that they can make informed and confident decisions about their financial future. Prior to joining My Solo 401k Financial, I served as the general counsel for a subsidiary of a Fortune 500 financial services company. Learn more about George Blower and My Solo 401k Financial >>

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