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, MySolo401k.net 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 (https://www.iraservices.com)

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) MySolo401k.Net Fees: $1,100

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,

For the 2017 Fee Schedule click on the link https://www.iraservices.com/forms/fee-schedule

IRA Custodian Establishment and Annual Fee:

  • 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)
  • $45 quarterly fees (Total Annual Fee is $180.00) (Charged by IRA Services 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
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