The Self Directed Checkbook IRA is IRS and tax court approved. With a Self Directed Checkbook IRA you will never have to seek the consent of a custodian to make an investment or be subject to excessive custodian account fees based on account value and per transaction.
By using a Self Directed Checkbook IRA, you will no longer have to get each investment approved by the custodian of your account. Instead, as manager of the Self Directed IRA LLC, all decisions are truly yours. To make an investment, simply right a check and use the funds straight from your Self Directed IRA LLC bank account.
With a Self Directed Checkbook IRA, an LLC is formed which will be owned by the IRA and managed by the IRA holder (you) or any third-party. As manager of the IRA LLC, you will have checkbook control over your retirement funds. Since the IRA, which is tax-exempt pursuant to Internal Revenue Code Section 408, is the owner of the Self Directed Checkbook IRA LLC, all income and gains of the LLC will generally flow back to the IRA tax-free!
Using a Self Directed Checkbook IRA will offer you the opportunity to invest in almost any type of investment opportunity that you discover, including: real estate (rentals, foreclosures, raw land, tax liens etc.), private businesses, precious metals, hard money & peer to peer Lending as well as stock and mutual funds; you’re only limit is your imagination.
A Self Directed Checkbook IRA will help you save a significant amount of money on IRA custodian fees. The cost savings is largely based on the fact that all the investment activities will be occurring at the LLC level not at the custodian level. Therefore, the IRA custodian will have limited involvement in any of the IRA transactions. In fact, the IRA custodian will not know what you are investing in. The only item of information the custodian will request from you is the IRA account value. With a Self Directed Checkbook IRA you no longer have to pay excessive custodian fees based on account value and transaction fees. Instead, with a Self Directed Checkbook IRA, you and not the IRA custodian will be making the IRA investments.
The Self Directed Checkbook IRA will give you the power and opportunity to act quickly on a potential investment opportunity. When you find an investment that you want to make with your IRA funds, as manager of the LLC, simply write a check or wire the funds straight from your Self Directed Checkbook IRA LLC bank account to make the investment. The Self Directed Checkbook IRA allows you to eliminate the delays associated with an IRA custodian, enabling you to act quickly when the right investment opportunity presents itself.