Fillable Printable Simple LLC Operating Agreement

Simple LLC Operating Agreement

IRALLCAGREEMENT

IfyouareinvestinginanLLCwhichwillbeownedbyyourIRA,youMUSTcompletethisformpriortomakingyourinvestment.

IfyouaretransferringanIRALLCfromanotherIRAorqualifiedretirementplan,youMUSTcompletethisformtofacilitatethetransfer.

ForInvestments,returnbymail:POBox7080,SanCarlos,CA94070‐7080|fax:650‐745‐2929|e‐mail:[email protected]

ForTransfers,returnbymail:POBox7080,SanCarlos,CA94070‐7080|fax:650‐745‐2907|e‐mail:transfers‐[email protected]

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Forinquiries,call:800‐248‐8447orvisitwww.IRAServices.com

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A.PARTICIPANTIDENTIFICATION

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FULLNAMEPHONENO.ACCOUNTNUMBER

______________________________________________________________________________________________________________

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B.OPERATINGAGREEMENTPREPARER&TRANSACTIONREVIEWERINFORMATIONRequired

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LLCNAME:________________________________________________________________________________________________________________________________________________

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TheOperatingAgreementpreparermustbeanattorneyorafacilitatorcompanywhosestandarddocumentshavebeenreviewedbylegalcounsel.OperatingAgreementspreparedby

theIRAParticipant,anaccountant,orwebsitessuchasLegalZoom.comorBizFilings.comarenotacceptable.



NAMEOFPREPARERSTREETADDRESSPHONENO.



_______________________________________________________________________________________________________________



FIRMNAME(IFAPPLICABLE)CITY/STATE/ZIPFAXOREMAIL



_______________________________________________________________________________________________________________



InordertoassurethattheLLCconformstotherequirementsandprohibitionsoftheInternalRevenueServiceandDepartmentofLabor,IwillhavealltransactionsoftheLLCreviewedby

theattorney,accountantorotherthirdpartyprofessionalnamedbelowatleastannuallytoavoidanyactionthatwoulddisqualifytheIRA.

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Checkthisboxifthetransactionrevieweristhesameastheoperatingagreementpreparer.Ifitisnot,providetherequiredinformationbelow:



NAMEOFTRANSACTIONREVIEWERSTREETADDRESSPHONENO.



_______________________________________________________________________________________________________________



_______________________________________________________________________________________________________________

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C.GENERALACKNOWLEDGMENTANDAGREEMENT

 IacknowledgethatIaminvestingmyaccountfundsinanLLCandIagreetoprovidecertaininformationabouttheLLCtotheCustodianofmyaccounttoallowthemtoproperly

completeanyrequiredreportingtotheInternalRevenueServiceorothergovernmentalagencies.

 IacknowledgethattheCustodianmaydeterminethattheinformationIprovideisnotsufficienttocompleteitsobligationstotheInternalRevenueService.Afternotifyingmeofsuch

deficienciesandallowingmetocorrectthem,theCustodian,atitssolediscretion,maydeterminethesufficiencyoftheinformationtocomplywiththeInternalRevenueService

regulationsandifinsufficient,electtodistributetheLLCtome.

 Iagreethattheagreementwillincludelanguageregardingadditionalcapitalcontribution(s)andwhethertheyareallowedordisallowed;ifallowed,theattorneypreparingmy

agreementshouldstateintheagreementthat:“SubsequentinvestmentsbythesinglememberarepermittedanddonotcreateaprohibitedtransactionunderIRCSection4975”.

 IacknowledgethatanyfuturechangesinInternalRevenueServiceregulationsorotherlawsandregulationmayrequirefurtheractionbymetoallowtheCustodiantocontinueto

maintaintheLLCwithinmyaccount.

 Iagreetoholdharmless,protectandindemnifytheCustodianfromandagainstanyandallliabilities,losses,damages,expensesandcharges,includingbutnotlimitedtoattorney's

fees,penaltiesandexpensesoflitigation,whichtheCustodianmaysustainormightsustainresultingdirectlyorindirectlyfromthisinvestment.



D.VALUATION

 IagreetoprovideanannualstatementoftheLLC’sfairmarketvaluetoIRAServicesTrustCompanyontheIRALLCVALUATIONformavailableontheIRAServiceswebsite.

 IunderstandthattheCustodianmayrequireafairmarketvaluationatthetimeofanytaxabledistribution,suchas

aRothconversion,accountholderdistributionorrequiredminimum

distributionandthatalicensedprofessional(CPA,appraiser,etc)knowledgeableabouttheLLCmustcertifysuchvaluation.IwillensurethattheappraisersignstheIRALLC

VALUATIONform.

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E.PROHIBITEDTRANSACTIONS(seeIRSPublication590forfurtherinformation)

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Aprohibitedtransactionisatransactionbetweenaplan(theLLC)andadisqualifiedpersonthatisprohibitedbylaw.



Prohibitedtransactionsgenerallyincludethefollowingtransactions:

Atransferofplanincomeorassetsto,oruseofthembyorforthebenefitof,adisqualified

person;

Anyactofafiduciarybywhichplanincomeorassetsareusedforhisorherowninterest;

Thereceiptofconsiderationbyafiduciaryforhisorherownaccountfromanypartydealing

withtheplaninatransactionthatinvolvesplanincomeorassets;

Thesale,exchange,orleaseofpropertybetweenaplanandadisqualifiedperson;

Lendingmoneyorextendingcreditbetweenaplanandadisqualifiedperson;

Furnishinggoods,services,

orfacilitiesbetweenaplanandadisqualifiedperson.

Adisqualifiedpersonisanyofthefollowing:



You,theowneroftheplan(IRA);

Amemberofyourfamily(i.e.,yourspouse,ancestors,linealdescendantsandtheir

spouses);

TheCustodian/Administratoroftheplan;

Anypersonprovidingservicestotheplan;

Anycorporation,partnership,trust,orestateinwhichyouown(eitherdirector

indirect)50%

ormore;

Anofficer,director,10%ormoreshareholder,orhighlycompensatedemployeeof

the50%ormoreownedentitydescribedabove.



F.GENERALACKNOWLEDGMENTANDAGREEMENT

Bysigningthisagreement,Iherebyacknowledgereceiptofthe“IRALLCRequirements”and“AccountDisclosure”formsandthatIunderstandmyresponsibilitiestotheCustodian.Iacknowledge

thatIhavenotandwillnotengageinanyprohibitedtransactionswithinmyretirementaccountoritsassetholdings.Ifurtheracknowledge

thatifIdonotprovidetheCustodianwiththe

informationrequiredbythisagreement,theCustodianmayelecttodistributetheaccountinwholeorinparttomeandthatthismaybeataxabledistribution.TheCustodianmayrelyonthe

informationprovidedbymebothnow

andinthefutureregardingmyLLCinvestment.IholdtheCustodianharmlessfromanyactiontakenagainstthemduetotheinadequacyorinaccuracyof

anyinformationordocumentationIprovide.

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Date

FORCUSTODIALUSEONLY

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//

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V20130129