When people hire me to form an IRA LLC, I don’t just fill in the blanks in a state created form, file it with the Arizona Corporation Commission and give you an Operating Agreement created for non-IRA LLCs. Here is a list of the 13 services I provide when I am hired to form an Arizona IRA LLC:
1. Unlimited telephone calls with Arizona IRA LLC attorney Richard Keyt (480-664-7478) to answer your questions about forming the company.
2. Name selection advice.
3. Discuss any formation issues & the Articles of Organization with the Custodian and make any changes to the Articles requested by the contact person or the Custodian.
4. File the Articles of Organization with the Arizona Corporation Commission (“ACC”) and get the ACC’s approval the day we are paid and you approve your LLC formation questionnaire.
5. The day we file the Articles of Organization we will send an email to the IRA account owner that contains the ACC’s approved and filed Articles of Organization. The manager needs this document to open the LLC’s bank account.
6. Obtain a federal employer ID number from the IRS for the IRA LLC and email it to the IRA account owner. Before we can get the EIN the IRA account owner must authorize us to do so by completing, signing and sending to us an IRS Form SS-4 found here: https://tinyurl.com/yy2hvqpb. For detailed help with the SS-4 see Richard Keyt’s article called How to Complete IRS Form SS-4.
7. Give each manager access to LLC attorney Richard Keyt’s Arizona-specific 170+ page ebook called the “Arizona LLC Operations Manual” customized for your IRA LLC. Chapter 3 of this ebook is a checklist of 25+ LLC operational tasks that should be done in the first 75 days.
8. Give you Rick Keyt’s 40+ page Charging Order Enhanced Operating Agreement custom drafted for your IRA LLC with provisions specifically applicable only to IRA LLCs and members that are IRAs.
9. Act as the IRA LLC’s statutory agent for its first year at no charge.
10. Prepare organizational resolutions of the members authorizing the issuance of membership interests.
11. Prepare membership certificates for all members that are used to prove ownership of the IRA LLC.
12. Give the IRA account owner a copy of the IRS statutes & regulations applicable to IRA LLCs.
13. Give the IRA account owner a copy of Richard Keyt’s article “Frequently Asked Questions about Prohibited Transactions,” which explains common transactions the IRA LLC must avoid to stay in good standing with the IRS.
14. Give the contact person a high-quality Arizona LLC Portfolio with tabs in which to keep all important IRA LLC documents.
15. Give the contact person a free one year membership in our LLC Compliance Alert email system ($297 value).
16. If PENSCO Trust is a Custodian: Richard Keyt will sign and deliver to PENSCO a Special Advisor Engagement and Representation Letter, which is required by PENSCO for certain IRA LLCs.
If you have any questions about any thing mentioned above or about forming an IRA LLC, call Richard Keyt at 480-664-7478.