The IRA account owner is considered a “disqualified person” and cannot provide a personal guarantee of a loan for the IRA. Therefore, when setting up an IRA or IRA-LLC (ICO), you cannot guarantee a loan to purchase property, nor could you open a margin account at a brokerage firm in which you personally guarantee to cover any margin calls. This could also apply in cases where the LLC is attempting to get a credit card from the bank, and the bank requires a personal guarantee on that card.
To learn more about self directed IRA or IRA custodial services go to:
www.iracentral.com