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What is checkbook control?

Checkbook control gives you the greatest level of flexibility and control when it comes to a retirement savings account. Opening a Self-Directed IRA (SDIRA) grants you checkbook control – meaning you can literally write your own checks and direct your investments without having to rely on an intermediary. The type of responsibilities offered via checkbook control is selecting asset types for investment, contractual negotiations and completion, possession of funds for asset acquisition, and more. Used extensively for real estate and private equity, today people are taking advantage of checkbook control IRA’s to invest in cryptocurrency and blockchain technology. The Dorado IRA is structured as a Self-Directed IRA with checkbook control – directly fulfilling the need for an IRA account that gives someone the most freedom to invest in crypto through a tax-efficient vehicle.
In order to operate an IRA or 401(k) with “checkbook control”, you’ll need to first set up an LLC or Trust that your IRA can make investments through. Your new Self-Directed IRA (SDIRA) will own 100% of the LLC or trust and the LLC or trust will have its own business checking account with a custodian. You will be the manager of the LLC and have the freedom to write checks and make your own investments. The Dorado IRA plan gives you everything you need to have your very own self-directed IRA with checkbook control – giving you the IRA LLC, bank account, and providing you with yearly compliance and administrative services.