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Subject:  Re: Setting Up Self Directed IRA Date:  8/16/2013  7:30 PM
Author:  aj485 Number:  119022 of 123001

It looks like he needs to either 1) set up a new LLC and make the SDIRA the only member, or 2) add the SDIRA as a member to his existing LLC.

If he sets it up as part of his existing LLC, he runs the risk of committing self-dealing infractions, which would invalidate the IRA, resulting in expensive tax and penalty consequences.

Either way, it looks like someone else has to be the administrator, or maybe I am not using the correct term.

Yes, a 3rd party administrator is required.