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Self-directed Checkbook IRA LLC Question: You helped me set up a self-directed IRA with Forge Trust and I have successfully pulled money into the IRA LLC’s checking account. I even have a home under contract, but having some issues with the lender understanding how to process. Is it possible for the home to close under my name and I transfer the title to the IRA LLC?
RESPONSE:
The rules require the following:
1. Offer in the name of the IRA LLC.
2. Escrow funding and the the purchase process have to flow from the IRA LLC bank account directly to the title company.
3. Title has to be taken in the name of the IRA LLC.
4. Income and expenses have to flow through the IRA LLC bank account.
