Self Directed IRA Real Estate
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Millennium Trust Requirements
Millennium Trust accepts real estate investments in self directed IRAs and Solo 401(k)s provided the following requirements are met:
- The self directed real estate IRA account is opened and funded prior to making the offer to purchase.
- The offer should be made in the name of the custodian for the benefit of the IRA.
Millennium Trust Company as Custodian for (name of real estate IRA account owner)(state type of IRA, i.e. Roth, Traditional)
- No personal funds may be used for the down payment.
- The IRA account owner should review the purchase contract, initial each page and sign 'as approved' on the bottom of the first page.
- Fax a copy of the contract along with a complete Real Estate Investment Direction to our Alternative Investments Client Services department (fax (630) 368-5699).
- Liability insurance is recommended for income producing property and vacant land.
- All rental income is payable to, and all expenses are payable from, the IRA. Millennium
Trust recommends a property manager other than the account owner.
- Formal appraisal by a state certified appraiser is required when the property is sold, transferred or taken as a distribution.
- Millennium Trust will not accept a single-person Limited Liability Company unless it is managed
by an administrator accepted by Millennium Trust.
These requirements are subject to change and Millennium Trust
reserves the right to reject any account or investment.
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