7 STEPS TO WRITE CHECKS TO INVEST YOUR IRA OR RETIREMENT FUNDS
If you want to make investments by writing checks from your own Self Directed IRA LLC it will be necessary to complete the following steps:
- Form a Limited Liability Company (LLC)
- Prepare a specialized Operating Agreement that meets the requirements for Self Directed IRA’s.
- Establish a Self Directed IRA account with a Custodian that permits self directed IRA investments.
- Fund your new Self Directed IRA custodial account by transfering funds from your existing retirement account to the new custodial account.
- Direct your new Self Directed IRA Custodian to make an investment in your new Self Directed IRA LLC.
- Find a suitable investment that you want to invest your money in.
- Write a check to purchase the new investment in the name of your new Self Directed IRA.
After these simple steps, your Self Directed IRA can invest in real estate, oil and gas, and other investment vehicles without the red tape normally involved in obtaining approvals and without the administrative fees normally involved when using your IRA directly to make the investment. There are some limitations on related party dealings.