4. The Operating Agreement must contain language sufficient to address IRA-related issues concerning Prohibited Transactions (26 USC 4975), The Plan Asset Rules, the allowance of subsequent or additional Capital Contributions and Unrelated Business Income Tax (including language that ensures that the Manager of the LLC will prepare and file all necessary tax forms with the appropriate taxing authorities, Federal, State and local).
5. The Operating Agreement must name the LLC Manager and provide the Manager’s address, telephone number and email address.
6. The Operating Agreement must accurately designate the Member as “The Kingdom Trust Company, Custodian, FBO [IRA Owner’s Name] IRA.
7. The Operating Agreement must be signed by the Manager and the Member (as having read, understood and agreed).
8. The Operating Agreement must provide a signature line for an authorized signer of Kingdom to sign on behalf of the Member.