IRA LLC

Self-directed Checkbook IRA LLC FAQ Can I invest my Self directed IRA in my existing LLC?

September 30, 2022 | By George Blower

Please check out this good question from our Daily Live Zoom call. Subscribe to our YouTube Channel to get notifications of our Daily FAQs.

Self-directed Checkbook IRA LLC Question: I am considering setting up an IRA LLC to invest my Roth IRA funds in real estate. I already have an LLC for my business (which sponsors a Solo 401k).  Can I use the same LLC for this IRA and then open a separate checking account?

RESPONSE:

No.  One is not allowed to invest his or her IRA funds into an LLC that is owned by such person (or a related person such as a parent or spouse).

Instead a new LLC would need to be opened into which the Roth IRA funds would be invested.

Learn more: https://www.mysolo401k.net/ira-llc/

Tags: , , , , ,

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 >>

  • Open an account

  •  

  • 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