The Dangers of Checkbook Control IRAs
Quest Trust Company, Inc does not offer this type of account.
Anyone entering into this type of IRA investment structure must understand the basis in law on which this structure is built, what the rules are with regards to prohibited transactions and how to operate a registered business entity.
A very popular idea in the self-directed IRA industry is to have what some have termed a “checkbook control” IRA. These have been under attack by the IRS.
For more detailed background on why we do not offer this type of an account: