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Switch Owner of Existing LLC to Self-Directed IRA
If I have an existing LLC, am I able to switch the owner to be a self-directed IRA? What factors need to be taken into account for a situation like this?
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Dmitriy Fomichenko
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Dmitriy Fomichenko
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Roberto,
you can not sell (or otherwise transfer) your ownership in the LLC (or any other asset or property) to your IRA. Such transaction would be considered prohibited by the IRS. You as disqualified person are not allowed to engage in any transaction with your IRA.