Solera National Bank IRA, LLC, dba Discount Solo 401K
Terms of Service
Client engages Solera National Bank IRA. LLC, dba Discount Solo 401K (“Discount Solo 401K”) to provide the documentation services set forth below with respect to the Client’s Self-Directed IRA, LLC (the “LLC”) or Client’s Trust (“Trust”) and agrees and acknowledges the following, which may be updated and amended by Safeguard from time to time::
DOCUMENTATION SERVICES. Discount Solo 401K shall assist the Client by providing the following (“Document Services”):
• If requested, register the Self-Directed IRA LLC by filing the Articles of Organization of the LLC and list the Registered Agent as requested by the Client.
• If requested, provide a form of LLC Operating Agreement or form of Trust for the Client to discuss with the IRA custodian and/or the Client’s accountants, lawyers, and professional advisors, as these are legal documents that should be reviewed/confirmed by a legal and/or accounting professional.
• Provide the documents necessary to establish an IRA checking account or 401K checking account with Solera National Bank at the direction of the Client.
• Provide educational materials regarding Self-Directed IRAs and/or sole 401Ks for the Client to discuss with the IRA custodian and the Client’s accountants, lawyers, and professional advisors.
DISCOUNT SOLO 401K FEES: A one-time document fee, as invoiced, for Document Services.
CLIENT REPRESENTATIONS REGARDING INFORMATION: Client represents and warrants that Client has provided current, correct, and complete information with respect to the information provided to Discount Solo 401K to assist Discount Solo 401K in registering the Articles of Organization.
CLIENT ACKNOWLEDGEMENT OF ADMINISTRATIVE RESPONSIBILITY: Client understands that the operation of the LLC or Trust, as applicable, is the sole and absolute responsivity of Client and will require, without limitation, the following:
• Retaining and maintaining LLC records.
• Maintaining the LLC in good standing with the state of registration as required by state law. This may include annual or bi-annual filings, fees, and/or franchise taxes.
• Maintaining an in-state registered agent for the LLC and updating the state new agent information should the agent or agent address change.
• Filing and maintaining records as required by any federal, state, or local organization, including, without limitation, as required, the Financial Crimes Enforcement Network.
• Providing a year-end statement of the fair market value of the LLC or Trust, as applicable, to the IRA custodian annually or as required by law.
• Providing notification to Discount Solo 401K, the IRA custodian, and any third party of changes to the email or physical address associated with the LLC or Trust, as applicable.
LIMITATION OF SCOPE: DISCOUNT SOLO 401K IS AND DOES NOT ACT AS TRUSTEE, ADMINISTRATOR, ACCOUNTANT, LAWYER, OR AS ANY OTHER FORM OF FIDUCIARY WITH RESPECT TO CLIENT’S SELF-DIRECTED IRA OR TRUST OR DOCUMENTS PROVIDED BY DISCOUNT SOLO 401K. CLIENT IS HEREBY ADVISED TO REVIEW ALL DOCUMENTS PROVIDED BY DISCOUNT SOLO 401K WITH CLIENT’S TAX, LEGAL, OR INVESTMENT ADVISOR. FOR CLARITY, (I) DISCOUNT SOLO 401K DOES NOT PERFORM TAX RETURN PREPARATION OR OTHER TAX FILING SERVICES, (II) ANY STATE (OTHER THAN REGISTERING THE LLC, APPLICABLE) OR FEDERAL FILINGS, AND (III) DISCOUNT SOLO 401K DOES NOT PROVIDE REPRESENTATION OF CLIENT IN ANY PROCEEDINGS BEFORE ANY STATE OR FEDERAL COURT, AGENCY, OR ADMINISTRATIVE BOARD.
CLIENT ACKNOWLEDGEMENT AND INDEMNIFICATION: Client acknowledges, with respect to its LLC or Trust, as applicable, to maintain and satisfy all investments and administration IRS regulations. Client hereby agrees to indemnify, defend, and hold Discount Solo 401K harmless for decisions and actions taken by Client with respect to, relating to, and/or arising from (i) the LLC or Trust, as applicable, (ii) the checking account held at the applicable banking institution, and (iii) any matters related thereto or arising therefrom.
LIMIT OF LIABILITY: It is agreed that Discount Solo 401K’s responsibility for damages or claims of damage, regardless of the form of action, shall not exceed the total amount paid for Document Services invoiced. Further, in no instance shall such damages or claims of damages include incidental, indirect, or consequential damages or claims of damage and they shall not include lost profit or diminution of value damages or claims of damage. Such damages, as limited above, shall be Client’s sole and exclusive remedy. Any and all claims and causes of action for damages shall expire one year after the date the LLC or Trust was organized or created, as applicable, into existence.
VENUE: Any dispute related to services provided shall be settled by arbitration in Jefferson County, Colorado according to the rules of the American Arbitration Association. Arbitration is final and binding. The parties are waiving their right to seek remedies in court, including the right to a jury trial.
APPLICABLE LAW: The laws and jurisdiction of the state of Colorado shall govern any and all disputes between Discount Solo 401K and Client.
CLIENT PRIVACY: Subject to law, a court order, or Client consent, Discount Solo 401K agrees not to disclose Client information associated with the Document Services. However, this clause does not pertain to government or law enforcement agencies or as required by law.
DIGITAL COMMUNICATIONS: Client agrees to transact business using electronic communications and receive notices and disclosures electronically.
ASSIGNMENT OF DOCUMENT SERVICE: Subject to law, Document Services obligations may be transferred by Discount Solo 401K at any time in Discount Solo 401K’s sole and absolute discretion.
MISCELLANEOUS: This document sets forth the entire Terms of Service between the Parties concerning the Document Services. These Terms of Service shall be binding upon all successors and assigns of the parties set forth herein. The Terms of Service are severable, and if any provision herein shall be deemed invalid, all other valid provisions shall remain in force.
3rd Party Authorization
Client hereby authorizes Discount Solo 401K to: (i) file the Articles of Organization of the LLC based on the information Client provided to Discount Solo 401K; and (ii) file the Form SS-4 that Client executed, naming Discount Solo 401K as the third-party designee, on Client’s behalf so Discount Solo 401K can apply for and receive an EIN from the IRS.
