Set up my own Self-Directed IRA-LLC with checkbook control without a trustee
I want to form my own self-directed IRA LLC with checkbook control to purchase crypto. Must I go through a firm to act as a trustee? If I can do it myself can I generate my own IRS form 5496? I’m 65 years old, retired and want to move some money from a traditional IRA into a self directed IRA and act as my own trustee. And then open a account in say coinbase.
Permalink Submitted by Alan - IRA critic on Thu, 2021-10-07 18:38
You must use an IRS approved IRA custodian to hold the IRA. You cannot act as your own custodian.
Permalink Submitted by Ralph Panzetta on Thu, 2021-10-07 21:42
I have found a company that I can open an account with no yearly or monthly fees. They claim to be able to purchase crypto in a Ira. How can I find out if Altoira.com is legit to purchase in my IRA?
Permalink Submitted by Alan - IRA critic on Fri, 2021-10-08 00:08
You could ask them for a copy of the IRS letter approving them as a non bank IRA custodian.