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What to Expect

Checkbook-Controlled Self-Directed IRA

Here’s what to expect as you begin the process of setting up a Self-Directed IRA LLC with checkbook control, from submitting your application and funding your IRA to setting up your LLC and investing with your new plan.

Submit your application on our app

The following timelines are based on standard non-expedited selection.

You can premium expedite (within 24 hours) for one or more processes ($200 each) or standard expedite (within 48 hours) for one or more processes ($75 each).

1. The application will go into a queue to be reviewed. A new account specialist will call you within 3-5 business days if items are missing, filled out incorrectly, or need further follow up.

2. Once the application is complete and correct, an account number will be assigned within 3-5 additional business days. The account number will be emailed to you by newaccounts@irafinancial.com.

3. The transfer form will be submitted to the Transfer Department, or instructions to complete a Rollover or contribution will be emailed to you with your account number.
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Learn How does the Self Directed Coverdell ESA work

Fund your IRA

If you selected Rollover on your application, please contact your previous custodian to ask them to rollover or send funds to IRA Financial. Please complete a Deposit Form on our app and provide a current statement from the other custodian to accompany the incoming wire or check. The funds will be on hold until we receive them.

If you selected Contribution on your application, please send a deposit form when you wire funds or send a check to your IRA as a current year or previous year contribution.

Set up your LLC

Our Entities Department will begin establishing your LLC based on the three (3) names you selected on your application. The formation of the LLC will begin when the setup fees are received from the account owner based on the following timelines:

  1. If you add a credit card to the account to either charge the structure fee or just to guarantee payment, our Entities Department will start after account number is assigned. Our Entities Department will send you the LLC Operating Agreement, LLC Articles, and LLC EIN number. We will ask you to sign the LLC Operating Agreement and return it back to us. This is the fastest option to get started.
  2. If you selected transfer, our Entities Department will start after an account number is assigned.
  3. If you selected rollover or contribution, our Entities Department will start when the account is funded or when it’s confirmed that funds are on the way. This is the slowest option.

 

See your state’s annual fees for LLCs.

Learn What is a Self Directed IRA custodian

Open and fund your LLC bank account

We take care of everything for you when you choose our Complete Care Checking Account option, which is why we recommend it. The following are the options for opening your LLC bank account.

RECOMMENDED

Complete Care Checking Account

RECOMMENDED

Regular Checking Account

RECOMMENDED

Local Bank Account

Invest your IRA funds

  1. After you are notified that your new Self-Directed IRA account has been funded, please complete the Investment Authorization form on our app to enter your LLC bank account information and funding instructions so IRA Financial can fund your investment.
  2. In order to send the funds to your LLC, our Investment Department will need the Investment AuthorizationProhibited Transaction QuestionnaireCheckbook IRA LLC Agreement, and Wire Request (if wiring to local bank) forms.
  3. Compliance will review the investment information within 3-5 business days of receiving it. IRA Financial will then either send the paperwork to our Capital One specialist to open your account or wait for confirmation that a local bank account has been opened.
  4. An IRA Financial team member will call for verbal verification before we send the funds. The number will come from a 605 area code.
  5. The IRA investment is funded.
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