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bank account for IRA LLC
so i already read the forum on it but it's not clear.
i opened a bank account at chase for my ira llc. i am listed on the account as the manager (as i should) but also chase also listed me as the 100% owner on the LLC -- as opposed to his IRA account being listed as the owner. it's one of those papers you sign showing ownership. it's a chase internal document.
I explained to Chase that my IRA owns the LLC 100% and while i am the owner of the IRA itself and i can represent on behalf of my IRA, I thought that my IRA account itself should be listed as the owner on the bank. They told me that in order for any "non individual entity" to owns the LLC, then that non individual entity will have it's own articles of organization/incorporation etc for e.g. another LLC or Corp.I explained to them it's not another LLC or Corp. It's actually my ira account at the custodian. but they said we go by what's on EIN letter.
I have done so much research on this, read forums, and point blank asked the custodian (they told me they legally cannot advise me) and it seems I cannot get a clear cut response. how have you guys done it??