Gold IRA LLC
Why a Gold IRA LLC?
There are many benefits to having a Precious Metals or Gold IRA LLC vs. a Custodian that limits your investment options.
Checkbook Control of your Gold IRA LLC / Precious Metals IRA LLC
It is important to note that this type of limited liability company can be referred to as two different things, even though they are the same. You may see it referred to as a Gold IRA LLC or a Precious Metals IRA LLC. Don’t worry, there is no difference at all. With a Precious Metals IRA LLC, you manage and control your investments with a checkbook that is linked to your retirement funds.
Checkbook control means you don’t need approval from a broker to make changes to your investments or to pay investment related expenses. You make the decisions; you sign the contract and you write the check. Acting as the manager of your Gold IRA LLC, you will have the ability to open bank accounts, choose your precious metals broker or dealer, perform your own due diligence and research, make and maintain investments and take charge of your own IRA.
Often trust companies generate revenue by charging a percentage of assets under management. This doesn’t make financial sense in a Self-Directed world because the trust company isn’t adding value to your investments, but instead is merely making sure the individual retirement account stays compliant with the law and with IRS rules and regulations. Most trust companies will charge a transaction or processing fee for any activity, which means there will likely be a fee for:
- Writing checks
- Buying or selling precious metals
- Paying storage fees for your precious metals
- Wiring funds
- Expediting documents
- Delivering documents
- …and more
With an IRA owned limited liability company you are making one investment and managing one asset, which cuts the fees down to a bare minimum. And, if you become unhappy with your Custodian and decide to switch to another company, it can be more expensive to move multiple assets than it is to move just one.