What is a Checkbook IRA LLC?
A Checkbook IRA LLC is an LLC wholly owned by a self-directed IRA, either traditional or Roth. The Custodian transfers funds from the self-directed IRA on a request made by you, the IRA holder. You are the manager of the LLC and, as such, have checkbook control of the LLC. Why would I want a Checkbook IRA LLC? A Checkbook IRA LLC allows you to fund an investment simply by writing a check. As a result, you can take advantage of investment opportunities as soon as you have done your due diligence without the risk of being shut out because you cannot get the funds transferred fast enough. In addition, since the transactions are being done by you through your Checkbook IRA LLC, your Custodian costs should be lower. No more per transaction fees on your statements. As the Manager of the Checkbook IRA LLC, do I have to follow the same rules as the Custodian? Yes, you are responsible for understanding the rules and abiding by them so you do not compromise your IRA. That means, in addition to d
