It is similar to the RG550 with pickguard mounted pickups, but has an HSS pickup configuration. A similar model without pickguard was issued as the RG560.
The RG540 is available with both maple and rosewood fingerboards. The pickups are Ibanez made and the bridge humbucker can be coil split with the push-pull tone knob. Other features include a basswood body and an Edge tremolo.