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How to Create, Set Up, and Transfer Funds to Your Checkbook LLC

A step-by-step walkthrough for creating a Checkbook LLC, adding a bank account to your Checkbook LLC, and transferring funds from your Alto IRA to your Checkbook LLC.

IN THIS ARTICLE:

Create a Checkbook LLC

Add a Bank Account to Your Checkbook LLC

Transfer Funds from Your Alto IRA to Your Checkbook LLC

Cancel a Checkbook LLC

Note: A Checkbook LLC can only be created in a non-crypto Alto account. If you currently only have a Crypto IRA at Alto, then please sign up for a regular Alto IRA in order to get started with your Checkbook LLC

 

Create a Checkbook LLC

To get started you'll need to request a Checkbook LLC to be created and set up in your Alto account.

  • In your Alto dashboard, click the I want to dropdown menu and select Create a Checkbook LLC
  • Review the auto-populated contact information and click Continue
  • Review Operating Agreement
    • Once the HelloSign form is finished loading, click the blue Get Started button at the top of the form
    • Click the Click to Sign box,  draw or type in your signature, and click Insert
    • After you've inserted your signature, click the blue Continue button at the top right and click I Agree when it pops up
  • Request an EIN
    • Once the HelloSign form is finished loading, click the blue Get Started button at the top of the form
    • Click the Click to Sign box,  insert your signature, and click Insert
    • After you've inserted your signature, click the blue Continue button at the top right and click I Agree when it pops up
  • Signature Required
    • Click the Direction of Investment Authorization link.
      *A new window will pop up with the Direction of Investment Authorization: IRA LLC. You can close that window once you've reviewed the terms and go back to the Signature Required page.
    • Once you're back on the Signature Required page, click on the Operating Agreement link, scroll down to the bottom of the page and click I Agree
    • When you're back on the Signature Required page, scroll down to the bottom and type in your name exactly how it's indicated in the quotation marks  below the signature box and click Request a Checkbook LLC
  • Your Checkbook LLC request is complete! You can click Ok to close the popup message.
    *Please allow 10 -15 business days for your LLC application to be processed and approved by the State of Arizona.

  • Add a Credit Card
    • Go back to your Alto dashboard and click on the drop down menu in the top right corner to select Your Settings
    • Click Payment Method from the options on the left
    • Click Add Card and enter your credit card information
    • When you're done, click Save Payment Method

Keep in Mind: We can't start your LLC application process until you've added a credit card to your Alto account, and we've received your payment for the Account Setup fee.

Additional Information about Your Checkbook LLC Request

Why does it take 10 - 15 days?
This process generally takes 10 - 15 days as Alto has to establish an LLC  in the state of Arizona. Once it has been established and approved, we would then request an EIN from the IRS.
Can I expedite the 10 - 15 day period? This process cannot be expedited.

Add a Bank Account to Your Checkbook LLC

After your Checkbook LLC is active in your Alto account, the next step is connecting a business checking account to your Checkbook LLC.

Tip: You can create a business checking account at a financial institution of your choice. You can use your LLC operating agreement and tax ID to open a business checking account.

  • In your Alto dashboard, click on your Checkbook LLC
  • Click Add a Bank Account and enter in your banking information
  • When you're done, click Save

Transfer Funds to Your Checkbook LLC

When you're ready to move funds from your Alto IRA to your Checkbook LLC, you can do so right in your Alto dashboard. 

  • In your Alto dashboard, click on your Checkbook LLC
  • Click Transfer Funds in the Transactions section
  • Enter your transfer information and click Submit

Note: Your funds will be transferred as an ACH so please allow 1 - 2 business days for it to show up in your business checking account.

Cancel a Checkbook LLC

The Checkbook LLC IS NOT active

If your Checkbook LLC request is still pending in your Alto account, then you may cancel it anytime in your Alto dashboard. A refund of the Account Setup Fee may be possible if we have not applied for your LLC with the state of Arizona. Please contact our support team regarding a refund.

The Checkbook LLC IS active

If your Checkbook LLC is already active in your Alto account, then please contact our support team to cancel your Checkbook LLC.

 

    Do you have more questions or need additional help with this process? Feel free to send a note to help@altoira.com or use our Contact Us form to reach one of our Client Experience Advocates.