Is this possible?
There is a new business account request from an LLC that recently amended its articles of organization to say that the IRA of John Doe is the sole member.
Thoughts anyone?
There is a new business account request from an LLC that recently amended its articles of organization to say that the IRA of John Doe is the sole member.
Thoughts anyone?
Permalink Submitted by mk foss on Mon, 2009-09-14 21:02
An IRA can invest in an LLC and could be a sole member. I don’t know who would be signing the checks, if it’s the IRA owner – there could be prohibited transactions.
Permalink Submitted by Linda Randazzo on Wed, 2009-09-16 11:17
Thanks mgtf4cpa,
Are there any other thoughts on this?