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Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 111450
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
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I want to form a self directed IRA, using funds from my SEP-IRA

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I want to form a self directed IRA, using funds from my SEP-IRA account. I feel that I can use the forms from the Michigan Sec of State without one of the online Help sites. Do you agree?
Yes, you do not need any of the companies to help you with this if you have read the information and are comfortable doing so. The main issue is being comfortable in handling the paperwork and filing the documentation needed for the formation of the account and then maintaining your records showing you are properly managing the account.


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Customer: replied 3 years ago.

Thanks. I have completed the Articles of Organization. Should I prepare an Operating Agreement? I will own the properties and operate the IRA myself, and generally feel the less of a paper record the better. Arlin

You do not have to have an operating agreement if you are a sole member LLC. An operating agreement is not a mandatory requirement.
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Customer: replied 3 years ago.

Do I need a "custodian" at any point in the process? 1. form the LLC


2. open bank account for self directed IRA LLC 3. transfer funds from Vanguard to bank 4. purchase investment property in name of LLC


5. Rent and manage property. Thanks again, Arlin

I thought I answered the custodian question for you, but no, you do not need a custodian for any of these steps. If you want a rental manager you can have one, you do not have to have one. You do not need a custodian for anything else, you can do everything yourself.

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