February 2, 2023

IRA Checkbook Client Testimonials

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Whether you’re looking for a self-directed IRA to avoid the heavy fees of IRA custodians or looking to use your self-directed IRA to invest in real estate, we will help you along the way. Just take a look at what some of our clients are saying about us in their testimonials:

I just successfully completed setting up a trading account at Wells Fargo (where I have my IRACheckbook account) and made my first trade.  As you said, there were no problems.  I did this via phone, fax, and email.   The only document I had to provide them was my Federal ID # from the IRS. Thanks for the help.

In the bank now.  I have everything I need….right on time. Thank you again, for your efforts.  I’ll tell my friends where I shop.

I really want to get completely out of the stock market, seems every day (there) is another insider scandal.  The game truly is fixed IMO.  Any way to get our 401k from (employer) deposited into our IRA LLC? Thanks for setting this all up.

Thanks for all your patience and help in establishing this investment vehicle for me. I’m also speaking with my friend and colleague this morning about your company…she is actively looking for a means to use IRA money for investments. I’m happy to recommend you and think you will be hearing from her.

If you want check-writing access to your B-Fund money, you can set up a Self-Directed IRA (Traditional IRA). I did mine with Kip Bowman of IRA Checkbook Services (furloughed AA pilot) or Jeff Beall, his business partner. He can answer any of your questions and their fees are very reasonable. A few years ago I set up a self-directed Roth IRA with another company which ended up costing me a lot more money. I set up one for my daughter with these guys and they were much simpler, cheaper, and more professional. They are a great way to make alternative investments such as real estate and private loans.


As I approach retirement, my priorities have shifted from contributing and forgetting it, to maximizing my returns. The forecast of flat growth in stocks and, bonds caused me to seek new strategies to provide for my future needs.

The current real estate market presents significant opportunities for entry into the world of real estate investment. With prices lower than in years past, smaller investors are able to build a portfolio of residential properties with far less capital investment.

Self-directing my funds reversed the trend with my IRA. After years of steady decline in mutual funds, it’s great to see an 11% increase. Please, relate my success, and thanks.

Retirement Funds with a Checkbook is about as simple as I can describe it. The freedom and opportunity you have given me have changed my way of thinking and I’m off and running!

For me it’s not just about control, it’s about saving time and saving money. The whole process of sitting down with a designated representative qualified to request a transfer of my money – and then having to wait for several days, and sometimes weeks, to verify the results – has become tiring. On top of that, each time I’m being charged fees to do what I would like to do myself.

Planning for retirement so we are not dependent on our children is a priority. Why should we allow our retirement savings to stagnate when we can proactively invest them in ways we both understand and control? The self-directed IRA checkbook allows us that freedom and flexibility. We look forward to a happy retirement.


Court Ruling 1996


Swanson vs. Commissioner Swanson v. Commissioner, 106 T.C. 76 (1996)

Swanson v. Commissioner, 106 T.C. 76 (1996) is a landmark case confirming the ability of IRAs to create and invest in entities. Mr. Swanson caused his IRAs to form and own two corporations. He was the director of each but never owned any stock himself. Mr. Swanson then directed the custodian of the IRA to purchase all the original issue stock of the entity. The Tax Court held that the initial formation of the company by the IRA is not a prohibited transaction under Internal Revenue Code Section 4975 because the sale of stock to the IRA was not a sale or exchange of property between a plan (the IRA) and a disqualified person within the meaning of Code Section 4975(c)(1)(A). The Tax Court also held that receipt of dividends by the IRA from the company was not a prohibited transaction because the dividends did not become IRA assets until they were paid. The Tax Court also held that Mr. Swanson’s performance of management functions, as director of the company, was not a prohibited transaction. However, the Tax Court did state that after the creation of the entity, the entity became a “disqualified person”.

IRS Field Service Advice Number: 200128011

In FSA 200128011 the IRS affirmed Swanson and stated: *”In light of Swanson, we conclude that a prohibited transaction did not occur under section 4975(c)(1)(A) in the original issuance of the stock of FSC A to the IRAs in this case. Similarly, we conclude that payment of dividends by FSC A to the IRAs in this case is not a prohibited transaction under section 4975(c)(1)(D). We further conclude, considering Swanson, that we should not maintain that the ownership of FSC A stock by the IRAs, together with the payment of dividends by FSC A to the IRAs, constitutes a prohibited transaction under section 4975(c)(1)(E).”*

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