Managing an IRA LLC


  • Distributions must not be withdrawn directly from the LLC checking account. As this is a reportable transaction, the funds which the investor wishes to take as a distribution must be directed back to the custodial IRA account, and subsequently distributed to the investor upon the custodians receipt of a completed Distribution Request form. The custodian will then send the IRS (and the investor) a Form 1099R reporting their yearly distributions.
  • Investment income, returns and dividends from investments vested in the your Self Directed IRA LLC’s name must be deposited to the LLC checking account that you will establish at a local bank of your choice. The investor does not have to send the funds back to the custodial account unless and until they would like to take a distribution. They may re-invest these funds in something else if they wish to.
  • Investment-related expenses such as fees to maintain your LLC, premiums, property taxes, HOA fees, repair and maintenance bills, utility bills, etc. must be paid out of the LLC checking account, not the investor’s personal checking account. Paying investment-related expenses using personal funds constitutes “self-dealing”, which is a Prohibited Transaction.
Self Directed IRA LLC Operating Agreement

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