Opening Checkbook IRA LLC

[Sanjeev Kaushik]

Hello BP community,

I changed job 6 months ago. Now I am required to move my 401k funds from my previous employer and while exploring the options available I am more interested in moving these funds to self directed IRA using Checkbook IRA LLC. I searched on the internet and called few providers. Looks like these providers who can setup relationship with Custodian, create IRA LLC and coordinate the funds transfer from my 401k provider to the bank account of newly created IRA LLC. I talked to 3 providers and everyone is asking around $1.5k one time setup fee (plus state LLC setup fee) which appeared very high to me. So I thought to seek opinion from BP community. If you have any recommendation, please do share. Thanks.

[Brian Eastman]

@Sanjeev Kaushik

Those fees are common, and are reasonable for the services provided, which typically involve a good bit of specialty expertise and ongoing guidance with respect to operating the vehicle in accordance with the IRS rules.  You can find less expensive solutions, but will be getting an inferior level of service and guidance as a result.  Simple as that.