Accuplan Benefits Services’ IRA LLC, also referred to as an ICO, is a special purpose LLC that the IRA either wholly or partially owns. An IRA LLC allows funds to transfer from the IRA to the LLC legally. With Accuplan, you can be sure that everything is IRS compliant. The account holder sets up the checking account for the LLC at their local bank.
It takes approximately two weeks to set up and fund this account fully.
This account works best for investors in the following situations.
- Real estate investment
- When a loan is needed to help secure the property
- An account holder wants checkbook control of the retirement funds
- An account holder wants signing authority over the investment
- When the investor is teaming up with a business partner or spouse
When Working with Us, You Get
Accuplan Benefits Services is a full-service self-directed IRA provider, so all the necessary paperwork and IRS filings are completed by our IRA professionals in-house.
The account comes with:
- Set-up of IRA LLC
- Filing of State Articles
- IRS filing of LLC EIN
- Self-directed IRA Compliant Operating Agreement
- Assistance and guidance with setting up checking account for LLC
- LLC Operating Agreement
- Banking authorizations for checking account
- Help and advice in rolling over the IRA account from the current custodian
- Membership certificates
- Membership ledger
- Assistance in legally moving money from the IRA into the LLC and vice versa, if needed.
Fees and Annual Account Costs
Set-up Fee: Accuplan’s IRA LLC set-up fee is among the lowest in the industry. Our flat one-time fee for an IRA LLC set-up is $495.
State filing fee: Each year, the state your LLC resides in will send the account holder an annual notice to renew the LLC’s registration.
IRA Annual Fee: This $349.95 fee can automatically come out of the account annually, or Accuplan can invoice the account holder.
Form 1065 annual filing: This fee varies by state, usually a minimum of $634. This fee and filing do not apply to single-member LLCs. Contact a tax professional in the registered state for more detailed information.
Account Application Process
- Complete Accuplan’s online self-directed IRA application and submit the Transfer form and IRA LLC application to us with a copy of the account holder’s driver’s license.
- Funds from the prior custodian are received and released.
- We create IRA-LLC. The account holder sets up a checking account for the LLC.
- A transfer of the money occurs to the LLC’s account. The account holder is ready to start self-directing.
Account Application and Paperwork
Self-directed IRA account application: completed online, found here.
Transfer Request Form: Use this form to roll funds from the current custodian into the new self-directed IRA account. You can find the transfer request form here.