IRA LLC for husband and wife | Both Spouses IRA LLC

QUESTION: Can I create a single IRA LLC that manages both my Self-Directed IRA and my wife’s Self-Directed IRA using the same bank account?

ANSWER: Yes both spouses (husband and wife) can invest their respective self-directed IRAs in an IRA LLC. You are describing a multi member LLC (i.e., an LLC consisting of two members). In your particular case, this means that if both of your respective self-directed IRAs invest in a newly created LLC containing the necessary IRA language (hence the name IRA LLC) it will be deemed a multi-member LLC.

What’s more, since both of your self-directed IRAs would invest in the IRA LLC, only one bank account is necessary for the LLC. Thus, only one checkbook would be issued listing both of you as the managers of the LLC.  Investments made by the IRA owned LLC in alternative investments such as real estate would be titled in the name of the LLC.

Thank you,

Greg in Florida

About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

  •  

  • Popular Video

  • ROBS 401k Funding Process

  • Solo 401k Contributions Including Mega

  • Checkbook IRA LLC

  • About MySolo401k

    We help our clients take control of their retirement money. Our products and services provide our clients the freedom to invest their retirement savings in their own business as well as alternative investments such as real estate, private companies, promissory notes, precious metals, tax liens and equities.
    Learn more

    Connect with us

  • We’re here to help.

    Call: 800-489-7571

    Monday-Friday

    8:00 am - 4:00 pm PT

    Why us?
MENU