Self Directed IRA / IRA Checkbook Plan
An IRA Checkbook Plan is an efficient, flexible, affordable, and exciting way to direct how your hard-earned money is invested, allowing you the control to improve your financial future. Unknown to most taxpayers, the IRS code allows for investment in a variety of opportunities, including real estate, business investment/capital, precious metals, certain types of loans and much more. Anything the code allows is an option for you with an IRAcheckbook Plan.
Who is Qualified?
You are qualified! If you have the funds and have decided that you want to take control of how your money is invested, simply call us or click HERE to request information.
The MAJOR benefit to having an IRA Checkbook Plan is having checkbook control over your retirement investing. This eliminates the delays and ongoing transactional fees of a custodial IRA or 401(k). Your plan funds are retained in a bank trust or brokerage account of your choosing, and you serve as the sole manager or trustee.
How Do I Set Up an IRAcheckbook Plan?
Simply contact one of our retirement representatives. After a brief consultation, you will be directed to the application form. Once the completed form is received, our staff will assemble and help you file the documents necessary to establish a retirement checking account. That’s it! Now you’ll be able to control your retirement investments without feeling like you just did your taxes each time investment funds are moved.
Why an IRA Checkbook Plan?
- We Form a Bullet-Proof Investment Structure
- Your IRA Funds are Securely Transferred to Your IRA Checkbook Account
- You Alone are in Control of the Account
- You Invest Simply by Writing a Check
- Eliminate “Rollover” Hassles
- No Tax Returns Are Necessary
We guide you through the development of and conversion into an IRA Checkbook Plan. Our services include:
- Development of attorney-authored, IRS-compliant and custodian-approved Operating Agreement (see FAQ for more info on the LLC)
- Filing of Articles of Organization
- Obtaining and registering a Federal Tax ID# (EIN)
- Creating a document binder tailored to the IRAcheckbook Plan
- Assistance with the bank account setup and initial funding for the IRAcheckbook Plan
In just 2 to 3 weeks, your retirement funds will be securely deposited into your FDIC-insured bank account. We do all the work and take the financial mystery out of the process. It is our goal to enable you to become your own “Wealth Advocate” by taking control of your investments and, future. We are available to answer all your questions.
IRA Checkbook Plan Fees
The fees for establishing your Checkbook IRA Plan will come mostly from your existing retirement funds in order to keep your out of pocket expenses to a minimum. At Hold Fast Asset Protection we are proud to offer our customers fees that provide the best value in the industry.
- Administration of the entire process, including formation of Single Member LLC, development of the Operating Agreement, establishing an EIN, ensuring State and Federal compliance, and document preparation: $1275, payable from the existing retirement funds
- Articles of Organization (varies by state): $40 – $500
- Custodian origination fee: $200 – $300
- Annual recurring custodial fee: $115 (may vary with choice of custodian)
Self-Directed IRAs are generally permitted to engage in most types of investments, however, if a Self Directed IRA engages in certain types of “prohibited transactions” or invests in life insurance or collectibles you may jeopardize the tax-deferred status of your IRA account. This could lead to the disqualification of the IRA and severe tax consequences. Therefore, it is important that you familiarize yourself with the IRA rules. Here are some of the guidelines:
- Internal Revenue Code Section 408 – IRC provision prohibiting IRAs from investing in life insurance contracts.
- Internal Revenue Code Section 4975 – IRC provision referencing tax on prohibited transactions.
- Internal Revenue Code Section 408(e)(2) – IRC provision describing an IRA’s loss of tax-exempt status upon engaging in a prohibited transaction.
- Internal Revenue Code Section 408(e)(4) – IRC provision describing effect of pledging an IRA or any IRA assets as security for a loan.
- Internal Revenue Code Section 408(m) – IRC provision describing impermissible investment in collectibles.
- Internal Revenue Code Section 512 – IRC provision describing unrelated business taxable income
- Internal Revenue Code Section 511 – IRC provision imposing tax on unrelated business income.
- Internal Revenue Code Section 513 – IRC provision describing an unrelated trade or business.