Many IRA custodians advertise themselves as offering a Self Directed IRA, but what that really means is that you can direct your IRA as long as you direct into one of their offerings. In other words, in a custodian controlled self directed IRA, you are generally only permitted to invest your IRA funds in investments offered by the custodian. Whereas, in the case of a “checkbook control” Self Directed IRA, a limited liability company (“LLC”) is established that is owned by the IRA account and managed by the IRA account holder. The IRA Holder’s IRA funds are then transferred by the Custodian to the LLC’s bank account providing the IRA holder with “checkbook control” over his or her IRA funds.
With a “checkbook control” Self Directed IRA LLC, you will have checkbook control over your IRA funds and you will no longer have to get each investment approved by the custodian of your account like in a “traditional IRA”. Instead, all decisions are truly yours. When you find an investment that you want to make with your IRA funds, simply write a check or wire the funds straight from your Self Directed IRA LLC bank account to make the investment. A “Checkbook Control” Self Directed IRA LLC allows you to eliminate the delays associated with an IRA custodian, enabling you to act quickly when the right investment opportunity presents itself.
Please contact one of our Self Directed IRA Experts at 800-472-0646 for more information.