Please take time to read the information provided in this Engagement Agreement. All documents and
required fields must be signed by you before IRA Club can complete the account opening process for a
Self Directed IRA LLC. Upon receipt of your payment, National IRA LLC Group will establish the entity and
bank account for $995. If you have any questions, please contact us at (312) 795-0988.
Setting Up Your IRA LLC
To begin, you will complete an application form with the necessary information to establish your new LLC.
National IRA LLC Group will then handle the formation process with the Secretary of State. It is
important to understand that this must be a new LLC created specifically for your IRA; you cannot use an
existing LLC. We will also prepare a specialized Operating Agreement that complies with IRS regulations
for your IRA LLC. You will need this document when you open a bank account for your IRA LLC.
As the Manager of your IRA LLC, you will have direct control over a wide range of investment options. You
will be responsible for making investment decisions, signing contracts, and managing the LLC's funds.
However, this freedom comes with responsibility. You must ensure all activities comply with IRS rules and
regulations for Self-Directed IRAs, including maintaining detailed records of all transactions. It is crucial to
familiarize yourself with prohibited transactions; certain actions, such as paying yourself a salary from the
LLC, are not allowed.
Funding and Distributions
Your initial investment in the IRA LLC will come from your IRA with IRA Club. Remember that all future
contributions to or distributions from your IRA must be processed through IRA Club, not the IRA LLC.
Tax Considerations
National IRA LLC Group will obtain a Tax Identification Number (EIN) for your IRA LLC. Generally, your IRA
LLC will not need to file a separate tax return. However, certain investments may have tax implications, so
it is always advisable to consult with a tax advisor.
Annual Renewal
Each year, you will need to renew your IRA LLC registration with the Secretary of State. States that do not
have renewal fees due are Arkansas, Alabama, Arizona, Missouri, New Mexico, Ohio, Pennsylvania, South
Carolina, and Texas. You have the option to pay the renewal fees directly from your IRA LLC funds or
authorize payment from your IRA cash balance. If you prefer, IRA Club can handle the annual renewal for
you for a fee. Just let us know your preference, and ensure your IRA has enough funds to cover the cost.
Instructions and Requirements
SELF-DIRECTED IRA-LLC SETUP
Email to:
[email protected]
Dear [name] prospective LLC owner,
Fax to:
(312) 283-2615
Secure Upload link.
The business checking account for the LLC will be established at Meridian Bank. IRA Club will provide the
documents needed for setup: Articles of Organization, Tax ID Number (EIN), and Operating Agreement.
Features of your Business Bank Account
Checks
Debit Card (there is a one-time $50 activation fee)
Online Banking App
Mobile Check Deposits
Free ACH transfers
FDIC Insurance on cash deposits - up to $250,000
Your Responsibilities
Do not combine personal funds with your retirement funds. Any additional funds must come from the
IRA Club.
If you need to take a distribution, remember to transfer funds back to IRA Club for proper processing.
Do not take distributions from the LLC bank account.
The bank account for the LLC should be used solely for investments and paying related expenses.
Any income generated from the investments should be deposited to the LLC bank account.
Ensure annual contributions are made to your IRA first. IRA Club will then transfer the funds at your
direction to the LLC bank account. IRS Limits and Regulations still apply.
Pay the annual fee for maintaining the IRA LLC account. ($325)
Please review and sign the agreement. If you have any questions or require support, please call us
