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Metro Storage LLC is a conduit for the institutional investor seeking to invest at the source, and partner with a sophisticated hands on, vertically integrated organization. Operating under the trade name Metro Self Storage®, we operate 100 locations in 11 states serving 75,000 customers annually. We have been informed by the custodian, that some investors have not been following proper procedures, thereby inadvertently putting themselves at risk of participating in a Self Directed IRA LLC Prohibited Transactions. Funds from another qualified retirement plan and contributions must not be deposited directly into the LLC checking account. Investment income, returns and dividends from investments vested in the IRA LLC’s name must be deposited to the LLC checking account.
Investment-related expenses such as premiums, property taxes, HOA fees, repair and maintenance bills, utility bills, etc. Testimonials:Simply outstanding in walking me through the process, organizing all documents, filing all paperwork and answering various questions in great detail.

Dmitriy is outstanding: he’s great at explaining things, he is fair, reasonable, patient and honest. The penalty for participating in a Prohibited Transaction is a full distribution of the IRA, which may be a taxable event subject to additional penalties. As this is a reportable transaction, contributions must first be deposited to your custodial account with the Trust company. As this is a reportable transaction, the funds which you wish to take as a distribution must be directed back to your custodial account, and subsequently distributed to you upon receipt of a completed Distribution Request form. You do not have to send the funds back to custodial account unless you would like to take a distribution. If you wish to subsequently move funds to the LLC checking account, you must ensure that it is permitted by the Operating Agreement or as per an attorney’s letter of opinion on file.
The custodian will then send the IRS (and to you) a Form 1099R reporting their yearly distributions.

Paying investment-related expenses using personal funds constitutes “self-dealing”, which is a type of Self Directed IRA LLC Prohibited Transactions.
While we have the size and scale to match the sophistication of the public companies, our private model allows us to skip the red tape and be more efficient, providing our clients the direct attention and maximum results they deserve. An Investment Authorization form must be completed to direct the custodian to move the funds to the LLC checking account. The custodian then will send the IRS (and you) a Form 5498 reporting their yearly contributions.

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