IRA LLC & Trust Basics

IRA Custodians — Their Role in the IRA LLC or IRA Trust Process

Let’s get the mystery out of the way right away. All IRAs are required to be held through a custodian. As part of this responsibility, the IRA custodian will report the annual value of the IRA to the IRS each year. Can I Choose any IRA Custodian I Wish? Yes and no. As you may know, custodians such as Schwab…read more →

Rules for IRA LLC Contributions and Distributions

Self-directed IRA LLC investors are understandably concerned about complying with IRS and DOL Prohibited Transaction rules, but they can often forget some rules for IRA LLC contributions and distributions.  Don’t be laxed, confused or ambivalent about important rules for contributions and distributions from your IRA account when utilizing an IRA LLC structure.   It is always important to pay attention to…read more →

Disadvantages of an IRA Trust

In the previous blog we did a general comparison of the IRA LLC to the IRA Trust.  While the IRA LLC has, historically, been the “go to” self-directed IRA product, an IRA Trust is certainly making (and should be making) a name for itself as a possible better option.  But with what is good, many times there are potential negatives. …read more →

Using an IRA Trust Rather Than an IRA LLC?

The IRA LLC is the “go to” for the self-directed IRA investor who wishes to have checkbook control of their IRA funds.  However, though not well known, there is growing interest in using an IRA Trust rather than an IRA LLC.  Let’s get some basics out of the way right off the bat:  both structures permit checkbook control to the…read more →

Contributions to Your Self-Directed IRA

Not to sound like a broken record, but a week ago I wrote a blog on the topic of distributions from your self-directed IRA and warned that an IRA account owner be circumspect in how they take out distributions…either elective or required (RMDs).  Specifically, “keeping your nose clean” by taking out distributions correctly from your IRA account, even IF your IRA…read more →

Distributions from Your Self-Directed IRA

Whether you have an IRA LLC or an IRA Trust, there may be a times that you want or are required to take distributions from your self-directed IRA.  Distributions from your self-directed IRA may be in the form of a “normal” taxable distribution from your traditional IRA, a tax-free distribution from your Roth IRA, or you may be taking a…read more →

Why You Should Strongly Consider an IRA Trust

There are a few reasons why you should strongly consider an IRA Trust.  Okay, let’s take the mystery out of this equation:  for the typical client establishing the IRA Trust, to them it really won’t look that much different than an IRA LLC.  Both will allow you to invest into non-traditional assets (e.g., real estate), and both will permit you…read more →

Contributing more to an IRA through a Spousal IRA

Well, sort of.  Many individuals who are married forget about contributing more to an IRA through a spousal IRA.  It is one of the easiest things to do, it makes relative sense (when you think of IRS rules), and is not overly complex. However, many people just simply forget about the option. The keystone feature to making an IRA contribution…read more →

IRA LLC vs. IRA Trust

A new concept is available to IRA account owners who are interested in self-directing their IRA accounts. Self-direction gives one the ability to invest into both traditional (e.g., mutual funds) and non-traditional (e.g., real estate) all from one account.  It is the IRA Trust. Is the IRA Trust substantially different that the IRA LLC to the consumer (you)?  Not really….read more →

Reporting an IRA Rollover to Your Solo 401(k)

A friendly reminder to those of you who executed a rollover from your IRA to your newly-established Solo-K plan (also marketed as a Solo 401(k), Self-Directed 401(k), Self-Administered 401(k), Uni-K, One-Participant 401(k)) during the past tax year (2015).  This reminder deals with reporting to the IRS the rollover of this IRA so that they know it is not a taxable…read more →