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What is an IRA LLC?

Posted on: December 10, 2019

An IRA LLC is a Limited Liability Company funded exclusively with retirement funds. The LLC operating agreement is generally prepared by an ERISA attorney or IRA LLC Facilitator. The Operating Agreement must include language related to IRA rules and regulations. The member of the IRA LLC is titled as follows “Madison Trust Company Custodian FBO [Your Name][Your MTC account #]. The non-compensated Manager of the LLC is generally the IRA Accountholder. IRA LLCs are a convenient tool for investments that are transaction heavy or time sensitive. IRA LLCs offer checkbook control. This means that all activity related to the IRA Investment (such as purchasing assets, paying expenses, depositing income) is handled by the LLC Manager. All transactions that are reportable to the IRS are still handled by the custodian.

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