The whole process can take 3-4 weeks, mainly dependent on how long it takes the custodian transfer(s) to take place.
The process is as follows:
- We send you an application to get started with our company and you fill it out and send it back.
- We email you all the forms you will need to set up a new Self-Directed
- IRA account and transfer your existing IRA funds to this account.
- We start creating a unique investment holding limited liability company where you are the manager and your IRA is the owner.
- After filling out the new IRA Services documents your Self-Directed account will be established and the transfer process initiated. We will assist in reviewing documents and guide you through the transfer.
- Once your LLC has been filed, approved and signed by the custodian, we will send you the relevant LLC documents and funding instructions.
- With the LLC documents and instructions you can establish a checking account for the LLC at a local bank of your choosing. If you wish we can assist with opening your account at select banks.
- After the funds have arrived at the custodian we submit an investment authorization instructing them to fund your LLC checking account.
You now have a “truly” self directed IRA (TSD-IRA). When you want to make a transaction you don’t need to get approval from the custodian or pay extra fees, you simply write a check!