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WHAT IS A CHECKBOOK CONTROL IRA?

When you establish a self-directed IRA LLC, you have direct access to your IRA funds via a checking account that is owned by your IRA -- hence the term "Checkbook IRA."

How Do I Get Checkbook Control?

  1. Open an IRA Resources account
  2. Download the investment kit
  3. Establish an LLC that is owned by your IRA
    • The “Managing Member” of the LLC, will have control of the checkbook
  4. Set-up a business checking account for the IRA LLC
    • This requires a tax ID number (EIN), and a copy of your Articles of Incorporation
  5. IRA Resources funds your checking account with IRA funds

IRA Resources does not sell or create LLCs. To learn about the specific requirements of forming an LLC, visit the IRS website or your local SBA district office for more information.

Due Diligence

As with any investment strategy, consult with your financial or legal representative regarding taxes such as UBTI, member limitations, fees and registration within your individual state. LLC formation costs and ongoing record-keeping requirements vary by state.

Disclaimer: IRA Resources does not offer investment, tax, financial or legal advice to clients. Individuals who believe they need advice should consult with the appropriate professional(s) licensed in that area.