Checkbook Control can provide flexibility and closer control of self-directed IRA funds.
Checkbook Control IRAs can buy Single or Multiple Member LLCs.
Checkbook Control IRAs require more involvement and responsibility on behalf of the IRA holder.
|Step 1||Open and fund your account – It takes New Direction IRA one to two business days to open your account once your application is in the office. You will then fund the account with a rollover (such as a gold IRA rollover), transfer, and/or contribution. This may take several weeks, depending on your current custodian, so plan for that in your timetable.|
|Step 2||Create the entity.|
|Step 3||Fill out a Buy Direction Letter and assemble entity documentation. Submit these to New Direction.|
|Step 4||Name yourself manager of the entity - Take the funding check and the entity documentation to a bank. Open a checking account in the entity's name.|