How Technology can Eliminate the Checkbook IRA

The biggest appeal of Checkbook IRAs (IRAs that invest in LLCs created by the IRA owner) is that they allow the IRA, by extension, to purchase things quickly.

However, the Checkbook IRA structure is currently under intense scrutiny by the IRS and sets up a situation where unscrupulous account holders can make mistakes and put themselves at risk of penalties, taxes and forced distributions.

New Direction IRA, however, has put in the resources over the last several years to develop and implement an industry-best technology system that makes self-directed IRAs easier to manage and invest with.

Their technology allows investors to open accounts online, contribute money to their accounts, send funds to closings, collect rent checks, view transaction history and much more is in the works. Investors can also speak on the phone or chat online with client representatives and asset experts for instant information. 

So for instance, where it might take other SDIRA providers days to process transactions, NDIRA can get it done within 24 hours. And the better the technology they develop gets, the quicker those transactions can occur and the less need for Checkbook IRAs and all the risks they present.

Remember that Checkbook IRAs are not flexible and often cost more than a SDIRA administered by New Direction IRA. With a New Direction IRA investment in real estate or any other asset type, you can direct us to send funds, leave the paperwork to us, have rent checks sent to your account and you can manage and oversee everything online.

For more information about self-directed IRA technology or NDIRA, visit www.newdirectionira.com.
 

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