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The LLC creates an account at e.g. Gemini. Talk with your trustee about it first.
by tylersmith 5y ago
The LLC creates an account at e.g. Gemini. Talk with your trustee about it first.
- nodesocket 5y agotrustee? Lol, it is just me. I thought that crypto exchanges don't let business entities open accounts. If they do, if I open an account at Gemini under my LLC how then do I get that into my SEP though?
- tylersmith 5y agoA SEP, and other retirement accounts, are trusts. The manager of your accounts is the trustee of those accounts. It can't be just you with a retirement account, there is always a trustee. E.g. Mass Mutual Trust Company, Directed Trust Company, etc The LLC is owned by the SEP (the trust). Anything owned by the LLC is in the SEP.
- idiotsecant 5y agoYou shouldn't be so quick to jump to assuming someone doesnt know what theyre talking about. Trustee is a technical term with meaning in this context. You should look into self-directed 'checkbook' IRAs.