Been reading about Checkbook IRA's, a way to self custody Bitcoin without relying on even collaborative custody, in an IRA. Looks like there are of course still some costs (as you do need to incorporate an LLC to manage the funds within the IRA), but at annual fees I've seen as low as $150 a year (after one-time set up costs) and with your choice of Bitcoin exchange (thus potentially fee-free buying if you DCA on a few exchanges) it does look like it's potentially cheaper than Unchained, while giving more flexibility, given that you can also purchase other assets through the LLC. There are some accounting requirements, and of course commingling personal Bitcoin with the LLC is a good way to get into IRS hot water, but it all seems quite doable. The big thing I guess I see as a potential drawback is the difficulty of setting up something like Liana for inheritance, though it does look like the LLC can exist in multiple people's checkbook IRA, so it might be conceivable to find a way around that (or just make that person heir to the LLC itself, and make the inheritor keys ALSO something that is property of the LLC, officially).
Honestly a little surprised these aren't talked about more. Curious if Morgenrochard (npub1rex…6u3c) has any thoughts about them (and if it's not problematic to share those thoughts outside of a client relationship).
Cykros
npub1lc…63apw
2025-03-27 12:39:09
Author Public Key
npub1lcetwt8hcd9gagdytu4e35ufykxek0elfvx8q3spugmgj9x0ev0q363apwPublished at
2025-03-27 12:39:09Event JSON
{
"id": "42fbb545e8291d2d7af513e632c9242a94ed6e3b6736d8cb42b3a217596527a9",
"pubkey": "fe32b72cf7c34a8ea1a45f2b98d389258d9b3f3f4b0c704601e2368914cfcb1e",
"created_at": 1743079149,
"kind": 1,
"tags": [
[
"p",
"1e4c4fafe7b6627283e6061fe7f862f793ce004d835ba2b3e29e7a2504ac9dba"
],
[
"client",
"noStrudel",
"31990:266815e0c9210dfa324c6cba3573b14bee49da4209a9456f9484e5106cd408a5:1686066542546"
]
],
"content": "Been reading about Checkbook IRA's, a way to self custody Bitcoin without relying on even collaborative custody, in an IRA. Looks like there are of course still some costs (as you do need to incorporate an LLC to manage the funds within the IRA), but at annual fees I've seen as low as $150 a year (after one-time set up costs) and with your choice of Bitcoin exchange (thus potentially fee-free buying if you DCA on a few exchanges) it does look like it's potentially cheaper than Unchained, while giving more flexibility, given that you can also purchase other assets through the LLC. There are some accounting requirements, and of course commingling personal Bitcoin with the LLC is a good way to get into IRS hot water, but it all seems quite doable. The big thing I guess I see as a potential drawback is the difficulty of setting up something like Liana for inheritance, though it does look like the LLC can exist in multiple people's checkbook IRA, so it might be conceivable to find a way around that (or just make that person heir to the LLC itself, and make the inheritor keys ALSO something that is property of the LLC, officially).\n\nHonestly a little surprised these aren't talked about more. Curious if nostr:npub1rexyltl8ke389qlxqc0707rz77fuuqzdsdd69vlzneaz2p9vnkaq4l6u3c has any thoughts about them (and if it's not problematic to share those thoughts outside of a client relationship).",
"sig": "23c68568e3e8cb3a6d0e929c146a0058a40dc0ef6597f8e6bf442e7f63de2e330edb57b27aa3608a7e3fb44ff352ae4d8016cac29c3c5ffc82de8f3b4e26ac58"
}