Naming IRA LLC

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Naming IRA LLC

William Allen
Investor / Wholesaler · Nashville, TN · Member since 2014 · 1k+ posts · 667 votes

Any gotchas when setting up your IRA LLC when it comes to naming the entity? The answer from the company I am using is "you can choose the name of the LLC." I would suspect it would need to include my name followed by IRA LLC. What have all of you used for the names of your self directed IRA LLC entities? Thanks.

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Dmitriy Fomichenko
Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
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@William Allen

you do not have to have the name include IRA. In fact that would not be good idea. Just pick something generic like Wallen Properties LLC (using your first initial and last name) or Wallen Investments LLC. Or use your street name, or whatever. You don't want the name to be too long either, otherwise it may not fit on the title.

Hope this helps. 

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  • Dmitriy Fomichenko
    Solo 401k Expert · Anaheim Hills, CA · Member since 2012 · 18k+ posts · 6k+ votes
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    @William Allen

    you do not have to have the name include IRA. In fact that would not be good idea. Just pick something generic like Wallen Properties LLC (using your first initial and last name) or Wallen Investments LLC. Or use your street name, or whatever. You don't want the name to be too long either, otherwise it may not fit on the title.

    Hope this helps. 

    2Reply
  • Brian EastmanPro Member
    Self Directed IRA & 401k Advisor · Wenatchee, WA · Member since 2014 · 2k+ posts · 2k+ votes
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    @William Allen

    The only requirement is that the LLC be unique with the state. We generally recommend against using your name as a means to further the isolation from yourself personally, but there is no hard and fast rule behind that - just a best practice.

    I hate to say this, but I would question the level of support you can expect to receive from your IRA LLC provider if the best answer you can get for this simple, basic, and common question is as vague as you note. A reputable firm should not put you in a situation where you need to be querying the BP forums for guidance.

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  • William Allen
    OP
    Investor / Wholesaler · Nashville, TN · Member since 2014 · 1k+ posts · 667 votes
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    thanks Dmitiry!

    1Reply
  • Mark Nolan
    Professional · Carlsbad, CA · Member since 2012 · 12k+ posts · 1k+ votes
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    @William Allen

    It is best to keep the name short and broad. That is good that you are looking for a second opinion. It never hurts to ask different professionals for feedback.

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  • Michael Smith
    Investor · Milton, FL · Member since 2015 · 6 posts · 0 votes
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    Thank you for all the replies to this post. I would like to ask one additional question to this forum. I understand it's not good to use your name when naming a new LLC. Does anyone have an opinion about using initials. i.e.. J.S. investments (John Smith Investment Property) I'm about to open a couple LLC's and I too am searching for correct naming options. Thanks.

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  • Daniel DietzPro Member
    Rental Property Investor · Reedsburg, WI · Member since 2011 · 1k+ posts · 857 votes
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    @Michael Smithin my non-professional opinion, I see no problem with using your initials. I am part of a 3-way partnership and we all have a "D" in our name, so we go by 3D Property Investments. Even with using your own initials, I think there is still a good layer of protection there.

    Dan Dietz

    [email protected]608-524-4899
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  • Moses Vuma
    Member since 2018 · 9 posts · 2 votes
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    When forming the IRA LLC, whom do you state as the "member" or how do you specify the IRA as the member?

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  • Justin WindhamPro Member
    Banker · Nationwide · Member since 2015 · 4k+ posts · 1k+ votes
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    @Moses Vuma

    When submitting the LLC filing, the member may or may not be required information depending on the state's protocols. In the operating agreement for the LLC, the IRA member should be listed properly according to the titling used by the IRA custodian. I would recommend working with an experienced self-directed facilitator or attorney if in doubt.

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  • Moses Vuma
    Member since 2018 · 9 posts · 2 votes
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    Thank you @Justin Windham

    1Reply
  • Bill ExeterBusiness Member
    1031 Exchange Qualified Intermediary · San Diego, CA · Member since 2008 · 1k+ posts · 1k+ votes
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    Hi @Moses Vuma, 

    The member of the LLC must be your IRA Custodian. Remember, the IRA is owned by your IRA and not you personally. We use Exeter Trust Company as Custodian for IRA No. XXXXXX.

    Exeter 1031 Exchange Services, LLC and Exeter Trust Company4.726 Reviews
    WebsiteView Page
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  • Moses Vuma
    Member since 2018 · 9 posts · 2 votes
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    Thank you @Bill Exeter - now I know that the member of the LLC should be the IRA custodian!

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