IRA Eligibility
13 articles
Do I qualify for a self-directed IRA?
Yes, if you have retirement funds that can move into one. Eligibility turns on whether compatible funds exist, not on your income, net worth, or profession. Funding sources that qualify you today Three sources establish eligibility on their own. An ...
What kind of IRA account can be set up as a self-directed IRA?
Any type of IRA can be structured as a self-directed IRA with checkbook Control. The account type you set up will correspond to the type of funds you are bringing in, whether that's a rollover from a prior employer plan, a transfer from an existing ...
Can I self-direct my Roth IRA?
Yes. A Roth IRA works with checkbook control exactly as a Traditional IRA does. The structure is identical, with an LLC or trust formed under the Roth IRA that you hold signing authority for. The only difference is the tax treatment, which carries ...
Can I self-direct a SEP or SIMPLE IRA?
Yes, both SEP and SIMPLE IRAs are fully compatible with checkbook control. Each can be structured as an IRA LLC or IRA Trust using the same two-layer setup as any other self-directed IRA. There are a few mechanics worth understanding for each account ...
Can I combine my IRA with my spouse's IRA?
Our recommendation is no, and Self-Directed Plans does not offer this structure. Two separate plans, one for each account holder, is the right approach in virtually every case. Here's why. It is technically possible, but carries serious risk A ...
Can I combine a Traditional and Roth IRA?
No. A Traditional IRA and a Roth IRA cannot be combined into a single account or a single plan entity. This is not a policy choice, as it reflects a fundamental difference in how each account type is taxed. Why they cannot be mixed Traditional IRA ...
Can I have a self-directed IRA if I participate in a retirement plan at work?
Yes, and this very common. Participating in a 401(k), 403(b), pension, or any other workplace retirement plan has no effect on your ability to open or maintain a self-directed IRA. A common path to self-direction Many people use their workplace plan ...
Can I open an account for a minor?
Yes. A minor can hold a self-directed IRA structured as either an IRA LLC or IRA Trust. Because a minor cannot legally enter into contracts, the account requires a parent or legal guardian to serve in an administrative capacity alongside the minor ...
Can a non-US citizen open a self-directed plan?
Yes, if you are a resident foreign national living in the United States. IRA Resources opens IRA accounts for US residents regardless of citizenship. Accounts for non-resident foreign nationals are not available. What a resident foreign national ...
Can I invest in more than one state with an IRA LLC?
Yes, but the LLC must have a proper registration footprint in every state where it conducts business activity. There are two ways to accomplish this, and the right choice depends on your investment strategy. Understanding nexus Before addressing the ...
What happens if I move after I set up my IRA LLC?
A personal move requires some attention to your IRA LLC, but it rarely requires major structural changes. What you need to do depends primarily on whether your LLC has nexus, an active business presence, in the state where it was formed. When there ...
Can I set up an IRA LLC as a partnership?
A multi-member IRA LLC, where two or more IRAs each hold a membership interest, is technically possible but carries significant administrative complexity and compliance risk. This is not a structure Self-Directed Plans supports or recommends. The ...
Can I mix real estate and other assets in an IRA LLC?
Yes, a single IRA LLC can hold multiple asset types. However, mixing liability-producing assets like direct real estate with non-risk holdings like cryptocurrency, private loans, or cash in the same entity exposes everything in that LLC to any ...