Is This The End For Using IRA LLC To Buy Gold?
These LLCs are often referred to as “checkbook IRAs”. To many they seem to offer an optimum solution. However, they have been a thorn in the IRS’s side since their inception and therefor carry significant risks.
What Is A Checkbook IRA?
Unlike other types of self-directed IRAs, with a checkbook IRA your retirement funds are used to create a business or some type of entity that generates profits within the IRA. The business owns the IRA, and you own the business.
Will The IRS Shut Down Checkbook IRAs?
3 New Rules To End Checkbook IRAs For Good
Rule 2: Prohibition of Offices
Rule 3: Risk of IRA Dissolution