How to ADD Funds to your Check Book IRA LLC

There are several reasons a manager might want to add funds to their IRA LLC, the most common being an annual contribution. However they may want to close other IRA accounts and move them into the CheckBook IRA to have better access. Also, don’t forget that when you leave your employer or you turn 59 1/2 you may move your 401(k) into your IRA LLC.

In any case the method for adding funds is the same for each of these scenarios. First you simply deposit or transfer the funds to your custodian. There is no charge for this. Next you fill out an “Investment Authorization Form” to let the custodian know that you want to invest these new funds into the LLC as an “add on” investment. The custodian will charge you a $40 investment fee. However, once the funds are in the LLC, you’re free to invest them without any additional fees.

DO NOTMAKE YOUR ANNUAL CONTRIBUTION DIRECTLY INTO THE LLC AS IT MUST GO INTO THE IRA FIRST.

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