How to Open an IRA LLC Bank Account

How to Open an IRA LLC Bank Account

How to open up the bank account with a Check Book IRA or an IRA LLC? There is one thing that you have to remember. The LLC is simply a business. It is a limited liability company and you’re always opening up a business account. It is not an IRA account. It don’t even breathe the words Check Book IRA because people will be confused. They’ll run over and pull out the forms for an IRA. And then you start talking about a Check Book, and they’re going, “No you can’t do that!”, and you can’t un-ring the bell. Believe me. You can’t get it out of their head. So were not pulling anything over on them. The LLC is a business. So you simply go in and say, “I want to open a business account”. That’s it. It’s not an IRA account. It is a business account. And then it is up to you, if you want to leave a certain amount of money in there so they’ll waive fees. You’d want to attach it to a savings account. You would want to open up multiple accounts. It doesn’t matter. You are the manager of the business. You have the opportunity and the right in the operating agreement to do those things. So it is a business account which can be opened at any bank that will accept a business account. Now, click here and we will talk about what you need to bring with you when you open a checking account.