An IRA/LLC is an LLC that is owned by a retirement plan and we often refer to this type of entity as an IRA/LLC even though it could be owned by any type of retirement plan including a pension plan, 401(k) plan, Roth IRA, or even an HSA.
It is important to use a lawyer who is experienced in the legal area of IRC 4975 (prohibited transaction rules) and ERISA when establishing and IRA/LLC. Our firm’s lawyers are experienced in these areas and will complete the appropriate documents so that your IRA/LLC will be in compliance with the law. Our IRA/LLC set-up includes attorney consultations and all of the necessary documents your custodian may require. Our IRA/LLC set up also includes a memo and letter from our firm outlining the legal basis for the IRA/LLC and a list of simple do’s and don’ts to help you stay in compliance with the law. Our fees for an IRA/LLC start at $800 plus state filing fees if owned by one IRA (or any retirement account) to $1,500 if owned by multiple partners or retirement accounts.