A Step-by-Step Guide to the Easy IRA LLC Process

Setting up an IRA LLC is EASY. You can choose between a Traditional IRA, Roth IRA, SEP IRA or Simple IRA.  If you’re unsure which is best for you, please read about the different types of Individual Retirement Accounts before opening an account.

  1. You complete the online application. You provide us with some basic information, including your naming preference for your IRA LLC.
  2. We form your IRA LLC. Upon receipt of your naming preference, we prepare the articles of organization and form the limited liability company in Arizona (or another state of your choice for an additional fee). We also prepare the operating agreement for the LLC and obtain a tax identification number (EIN) for the LLC. We email you the articles of organization, the LLC operating agreement and EIN number.
  3. We help you open a self-directed IRA and a bank account for your IRA LLC at Solera National Bank. We email you a link where you’ll provide the Custodian with your personal information along with a copy of a government issued ID so a Self-Directed IRA can be established. You will also upload the LLC documentation so a business checking account can be established for the IRA LLC. The signing process is done electronically and requires no printing, copying, scanning or mailing.
  4. After your IRA is opened, you will be contacted about how you will fund your IRA. We help you transfer or rollover funds to Solera National Bank from your previous retirement plan. For a transfer, you will be asked for a copy of a statement from your current Custodian and we do the rest. Your IRA can also be started with an initial contribution.
  5. You can start investing with checkbook control. You now have an IRA LLC with a funded bank account. Since you are the manager of the LLC, you can start investing and write a check from your IRA LLC bank account.

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