 | Like your current IRA, No annual tax filings are required of the IRA LLC. However, a 1099R is filed for any disbursements you make at retirement age. Once per year, the Custodian will ask you to complete a |
LLC Valuation. You are not required to give an indexing of the LLC like the custodians of traditional retirement accounts forward to the IRS.
Again, tax liabilities are only incurred if you take a disbursement (at retirement age) from the IRA LLC or you chose to purchase other alternative investments that could produce UBTI, unrelated business taxable income, (real estate assets, promissory notes, stock in privately held companies, venture capital, and similar items potentially produce UBTI and anything over $1,000/year must be reported).
These are all clearly spelled out in the Operating Agreement and unless or until you decide to use your IRA LLC for investments other than gold & silver or stocks, it will not apply to you.
Again, tax liabilities are only incurred if you take a disbursement (at retirement age) from the IRA LLC or you chose to purchase other alternative investments that could produce UBTI, unrelated business taxable income, (real estate assets, promissory notes, stock in privately held companies, venture capital, and similar items potentially produce UBTI and anything over $1,000/year must be reported).
These are all clearly spelled out in the Operating Agreement and unless or until you decide to use your IRA LLC for investments other than gold & silver or stocks, it will not apply to you.
