Open an IRA LLC Account

IRA LLC Sign-up Information

The Self Directed IRA LLC with checkbook control consists of the steps discussed below.  To get started with the IRA LLC process, please provide the following information:

Our Self Directed IRA LLC services include the following:

  • Filing Articles of Organization with Secretary of State.
  • Obtaining The Employer Identification Number for the LLC from the IRS.
  • Drafting of the LLC Operating Agreement that contains the required IRA and IRS language.
  • Assistance in completing the Self Directed IRA account establishment forms.
  • Assistance in completing the applicable 401k and/or IRA transfer forms.
  • Assistance in establishing the LLC bank account at your local bank/credit union of your choice.
  • Consulting with the IRA regulations.

Step 1:

To form LLC and Prepare LLC Operating Agreement, requires following information from you:

    LLC Business Name (please provide 3 names in case name is already taken):

    The name must contain the words limited company or limited liability company or the abbreviation L.C., LC, L.L.C. or LLC.

    LLC Manager's Address (generally your home address):

    Step 2:

    Open IRA with IRA Custodian such as the following:

    Forge Trust:

    Step 3:

    • Preparation of IRA LLC Operating Agreement: We will prepare the LLC Operating Agreement once the IRA account is funded and LLC has been established.

    Step 4:

    • Setup of LLC bank account and funding: You can use your local bank or credit union. We will provide the LLC articles of registration and LLC employer identification number once the LLC has been registered.

    Payment of Fees:

    1) My Solo 401k Financial Fees: $800

    2) Fees Associated with State LLC Fee Structure:

    • Required Filing Fees for LLC articles of organization

    3) IRA Custodian Fees: ongoing IRA custodian annual fee, which you will submit directly to the IRA custodian,

    Custodian Establishment and Annual Fee: If you use Forge Trust (formally IRA Services Trust Company)

    To review Forge Trust (formally IRA Services Trust Company (the custodian of the self-directed IRA) Fee Schedule click on the following link:

    Forge Trust Fee Schedule

    • No fee to open IRA account (online)
    • Funding of LLC $25.00 (charged from IRA at time of wire transmission of IRA funds to LLC Bank Account)
    • $50 quarterly fees and $25 quarterly asset fee (Total Annual Fee is $300.00) (Charged by Forge Trust Company)

    Here is a summary of the IRA LLC Process:

    1. Register LLC with the Secretary of State
    2. Obtain employer identification (EIN)  for the LLC once the LLC has been registered with the applicable state
    3. Prepare IRA LLC Operating Agreement
    4. Complete IRA establishment forms
    5. Submit IRA establishment forms with LLC operating agreement and investment authorization forms
    6. Open LLC Bank Account
    7. IRA funds are wired to the LLC bank account
    8. The LLC bank account is funded and you can start processing investments
    For a full, detailed breakdown of the IRA LLC process click here.

    The First step is to complete our online application so that we  collect the necessary information to register the  LLC and later prepare the investment forms and LLC operating agreement.

    Second Step: Once we review the online application, we will e-mail you our credit card payment form to collect our setup fee of $800.

    Third Step: Once you return the credit card payment form we will get started in registering the LLC with the state and email you a link to open up the self-directed IRA with Forge Trust (formally IRA Services Trust Company). Both of these steps (the LLC registration and  the self-directed IRA setup) will be done in parallel to save time in the process.

    Fourth Step: Forge Trust company will then request for the transfer of the IRA from the current IRA provider.

    Fifth Step: Once the existing IRA gets transferred to the new self-directed IRA with Forge Trust Company, we will then provide you with the necessary forms to open up the LLC bank account.

    Sixth Step: Subsequently will prepare the LLC operating agreement investment forms and email them to your for your signature and submission to Forge Trust Company by email or fax.

    Seventh Step: Forge Trust Company will then wire the money from the new self-directed IRA to the IRA LLC bank account.

    Eight Step: IRA LLC has been funded. This will complete the set up of the IRA LLC and you will then start making investments under the LLC.

    Ongoing Compliance

    • Going forward, you can contact us with any compliance questions  related to investing the LLC, or the IRA regulations.
    • Forge Trust Company, or the IRA custodian that you select going forward will take care of the annual reporting with the IRS by issuing annual Form 5498.
    • You will need to provide to the IRA custodian on an annual basis the fair market value of the LLC so that they can report the value on Form 5498.
    • Any contributions that you make on an annual basis which will be based on your W-2 wages, or if you later want to transfer more IRAs for former employer plans to the self-directed IRA, will require those funds to be first deposited into the self-directed IRA with the IRA custodian. The IRA custodian would then wire the funds to the IRA LLC bank account.
    • All the income generated from the IRA LLC investments must flow back to the IRA LLC bank account.
    • If you want to take a distribution of IRA LLC funds, the funds first must flow back to the IRA custodian so that they can perform the required distribution reporting from the IRA.
    • UBIT or UDFI may be owed from certain IRA LLC investments and must be paid directly from the self-directed IRA.

    The IRA LLC Setup Processed Explained
    The IRA LLC Setup Processed Explained