IRA LLCs

I have a normal LLC I already use for some everyday business and non-retirement dollar investing activities... can I use that LLC in my Self-Directed IRA?

No. A previously owned personal IRA cannot be in your LLC because that is considered a prohibited transaction. Rocket Dollar will create a new IRA LLC for you to transfer the existing Self-Directed investment account.

 

Always think of your IRA and the IRA LLCs as separate entities from your personal business dealings, and any traditional business LLCs.

You must also not commingle dollars from your own businesses and a separate, Self-Directed IRA investment. An IRA LLC is part of the structure that allows you to invest and gain checkbook control of the IRA.

Your IRA cannot buy an investment that you previously owned, personally or in a business LLC.

Make sure that investments you make from your IRA are not connected to your current business in a self-dealing prohibited transaction. For more about self-dealing, click here.

I only own a partial amount of a business or investment...Is that still prohibited for my IRA?

If the investment is owned 50% or less by you and other disqualified persons, it might be eligible for investment by your IRA. Keep in mind if a prohibited person also owns part of the company, this is added towards your total when analyzing prohibited transactions

For more information on disqualified persons, which includes yourself, various family members, and close relationships, click here.

What if I have an LLC that I already use in a self-directed account?

We can work out a transfer together with our sales and support team, but we will need a specific process to transfer these assets. Please contact us in the sales chat, info@rocketdollar.com, or 1-855-762-5383 option 2.

 

See Our IRA Plan