Establishing a “Checkbook control” IRA LLC will save thousands of dollars vs. a full-service IRA custodian over several years according to IRA Financial Group Study
IRA Financial Group, the leading provider of “checkbook control” self-directed IRA and Solo 401(k) Plans announces the result of its internal study which highlights the cost benefits involved in establishing a “checkbook control” self-directed IRA LLC solution vs. a full service custodian self-directed IRA. A Self-Directed IRA LLC with “Checkbook Control” plan is an IRS and tax court approved structure that will allow one to use their IRA and 401(k) plan funds to make almost any type of investment, including real estate, tax liens, precious metals, foreign currency and much more tax free!
With a checkbook control IRA the IRA holder will never have to seek the consent of a custodian to make an investment or be subject to excessive IRA custodian account fees based on account value and per transaction. IRA Financial Group’s internal study showed that over a five-year period, an investor that established a “checkbook control” self-directed IRA LLC would save, on average, 45% of the costs or a general savings $4500. The internal study surveyed the fees of a number of the top full service IRA custodians in the industry. “Many full-service IRA custodians argue that one reason to not adopt a “checkbook control” self-directed IRA LLC is the cost when in-fact over a five year period the self-directed IRA LLC structure is significantly more cost effective than a full-service IRA custodian,” stated Susan Glass, a retirement tax professional with the IRA Financial Group.
To establish the Self-Directed IRA LLC “checkbook control” structure, a limited liability company (“LLC”) is established that is owned by the IRA and managed by the IRA account owner. The IRA owner’s funds are then transferred by the passive custodian to the new IRA LLC bank account. As the manager of the IRA LLC, the IRA owner will have the authority to make investment decisions on behalf of the IRA providing the IRA owner with “checkbook control” over his or her IRA funds.
According to Jaclyn Baily, a tax professional with the IRA Financial Group, with a Self-Directed IRA LLC with “Checkbook Control”, the IRA holder, as manager of the IRA LLC, can act quickly on a great investment opportunity. With a Self-Directed IRA LLC, when the IRA holder finds an investment with IRA funds, he or she would simply write a check or wire the funds straight from your Self-Directed IRA LLC bank account to make the investment. The Self-Directed IRA LLC allows one to eliminate the delays associated with an IRA custodian, enabling one to act quickly when the right investment opportunity presents itself, as well as a save a significant amount of money on annual IRA custodian fees.
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.
IRA Financial Group is the market’s leading “checkbook control Self Directed IRA Facilitator. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.