Is it prohibited to create a promissory note between SDIRA and LLC?

One of our Platinum clients had this amazing question, so we decided to share it with our grand audience as a helpful resource as it touches on a lot of information you need to know.

Managing attorney Carl Zoellner, Esq., with Anderson Business Advisors will be explaining the complexity of this transaction and its feasibility.

“Couple of different rules we need to look at here.” 0:45

SDIRA and LLC are two legal entities. SDIRA is a sub-chapter S corporation, and LLC is a limited liability company. The promissory note can be used in this transaction because it’s just like any other person or business transaction. However, this process can be made more complex with different factors being introduced to the equation.

A promissory note is a legal document that is used to record an obligation. It’s also known as a promise to pay. The promissory note is the most common method of documenting a loan transaction in business and personal transactions. Hence, this video will focus on how you can use a promissory note between SDIRA and LLC, if at all.

Join us for a brief but well-detailed discussion on the matter and learn how a promissory note can be utilized between these two parties.

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Carl Zoellner, Esq. is a senior attorney at Anderson Business Advisors who specializes in strategic planning for business owners with a focus on asset protection and tax planning. Carl speaks across the country to educate small business owners on the tools available for their investments from legal and tax perspectives.

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Disclaimer

The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by Anderson Business Advisors with its main office at 3225 McLeod Drive Suite 100 Las Vegas, Nevada 89121. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship with Anderson Business Advisors or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice.

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