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Updated 11 months ago on .
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How to handle the tax forms from the property manager and the bank?
I just set up my solo 401k under uDirectIRA, and the LLC that will be 100% owned by the 401k, and ready to buy real estate using the LLC.
My question is regarding taxation.
Should I give my LLC's EIN number or my 401k custodian's EIN number to the property manager? They will still issue me 1099-MISC forms. That form clearly shouldn't be issued against my own SSN. uDirectIRA sent me an instruction to use their trust company's EIN and address. I wonder if the tax forms would be mailed there, and then that trust company will file to IRS to explain it is tax exempt? Or will it be issued against my 401k's EIN and I'll just ignore these forms?
Same question for the Bank account, as the bank needs to issue the 1099-INT form.
I talked to a business attorney and she said she wasn't sure how taxation works here and wants me to do thorough research.
Most Popular Reply

Hi Dmitriy,
Thank you for your suggestion! I am losing trust with uDirectIRA at this point because after I made multiple calls, no one there was able to explain to me how this works end to end. I see you work for senseFinancial. I left a message via the Contact Us form on your website. Can you please give me a call tomorrow to talk more about this?
Yours sincerely,
Zehua