A Checkbook IRA is a combination of an Self Directed IRA account held by a Custodian and the formation of a special purpose LLC designed to hold the IRA as it’s asset.
Eligible Retirement Accounts for Transfer or Rollover
- Traditional IRA
- Roth IRA
- SEP IRA
- SIMPLE IRA
- 401(k)<
- 403(b)
- Profit Sharing Plans
- Qualified Annuities
- Coverdale Education Savings
- Money Purchase Plans
- and many more.
Steps In The Set Up Process
1 – Establishment of a new IRA Custodial account
2 – Set up of a special purpose LLC in the desired State
3 – Transfer of funds from existing to new Custodial account
4 - Set up of local bank account for the benefit of the LLC
5 – Transfer of funds from new Custodial account to local bank account
Investing With The Checkbook IRA
Once funds are transferred to the LLC bank account, the retirement investor has immediate access to the funds and can execute any allowable transaction, including real estate, tax liens, notes and mortgages, commodities, FOREX and much more.
