This is one of those questions that most prospective clients ask when they call us for the first time. They want to set up a Check Book IRA LLC, but they don’t necessarily want to pay the setup fee out of pocket. The answer is yes; your IRA may pay the setup fees for the IRA LLC. In fact, that is the option that a vast majority of our clients choose. During the set up process, you would submit a form to the Custodian that instructs the Custodian to pay our setup fee using your IRA funds.
Some clients then ask us if it is better to pay the fee from their IRA or to pay it out of pocket. I usually tell them that I can’t answer that question for them because it depends on their situation. Some clients choose to pay the fee from their IRA because they don’t want to take it out of pocket, and others decide they don’t want to deplete the funds in their account and so choose to pay a different way. This tends to be the crux of the matter. Those with larger accounts tend not to worry too much about paying from their IRA because their accounts are large enough that it doesn’t really make a difference to their bottom line. On the other hand, some clients have smaller accounts, and don’t want to deplete the those accounts any more than they have to.
As you can see, it’s a case by case thing. Feel free to call or email us if you have any questions about which way you should go.
Invest intelligently. Enjoy the rewards.
For those of you that would like to have a personal conversation about purchasing metals with your retirement savings call 1-800-482-2760 or email us at email@example.com.