Thanks for finding us in the forums! In order to setup a ROBS you must first create a C Corporation, not an LLC. You’ll create this right before you start your rollover, and you’ll set up a 401k account with that new business structure. The money from your personal retirement account is going to flow into that new business 401k account, and that account will buy shares of your new business (even though you have no assets in that business). The business then receives the money and can use it to purchase another business’s assets.
If you’re planning on using a ROBS, you should first speak with an experienced ROBS professional to talk through your situation and make sure it’s the right option for you. Then I would make sure you have a negotiated deal in writing to buy a business before I initiate the ROBS, so that you don’t waste the money it costs to get it setup and then have your 401k money sitting in an empty shell business. Good luck!