How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Law Educator, Esq. Your Own Question
Law Educator, Esq.
Law Educator, Esq., Attorney
Category: Business Law
Satisfied Customers: 116716
Experience:  All corporate law, including non-profits and charitable fraternal organizations.
Type Your Business Law Question Here...
Law Educator, Esq. is online now
A new question is answered every 9 seconds

I want to form a self directed IRA, using funds from my SEP-IRA

This answer was rated:

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.

I truly aim to please you as a customer, but please keep in mind that I do not know what you already know or don't know, or with what you need help, unless you tell me. Please consider that I am answering the question or question that is posed in your posting based upon my reading of your post and sometimes misunderstandings can occur. If I did not answer the question you thought you were asking, please respond with the specific question you wanted answered.

If you did not get all of the information you may have wanted PLEASE USE THE REPLY TO EXPERT LINK IF YOU HAVE FOLLOW UP QUESTIONS AND NOT THE FEEDBACK BUTTON FOR BAD SERVICE. PLEASE CLICK ON “OK,” “GOOD” or “EXCELLENT” SERVICE. Kindly remember to ONLY rate my answer when you are fully satisfied. If you feel the need to rate anything less than OK, please stop and reply to me via the or REPLY TO EXPERT button with whatever issue or clarification you may need.

Also remember, sometimes the law does not support what we want it to support, but that is not the fault of the person answering the question, so please be courteous.


There can also be a delay of an hour or more in between my answers because I may be helping other customers or taking a break.

You can always request me through my profile at or beginning your question with “For PaulMJD…”

Customer: replied 4 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.
Law Educator, Esq. and other Business Law Specialists are ready to help you
Customer: replied 4 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.

Related Business Law Questions