Cost to form a SDIRA owned LLC

[Yong Park]

Hey folks,

I have created a SDIRA locally here in Orange County. I will be cash funding the SDIRA through a roll over from another qualified plan. I need to create a IRA owned LLC in California. How much should this typically cost for the whole process? And are there annual fees to go along with the initial cost? I am finding that some lawyers are more interested in selling me other items such as estate planning more than just charging me for what I am asking for.

Any suggestions are greatly appreciated.  Dmitriy Fomichenko has been helpful.  Just exploring options.

Thanks!

[Alan Johnson]

@Yong Park This is basically a rehash of a post I made to another question. Presumably prior to opening the account you verified with your custodian that they will hold the LLC in your IRA. Assuming the answer was yes, then you might also want to check their requirements. In addition to a properly developed operating agreement, some custodians require a) an attorney opinion letter basically stating that in the attorney's view the LLC will conform to IRS tax code for SDIRAs, and/or b) a manager's acknowledgement letter basically stating that the LLC manager (you) will operate the LLC in conformance with these IRS regulations.