Using 401k Or IRA To Buy A Business
Financing The Purchase
November 4, 2004 No Comments

Question:

Can a person use 401k assets or IRA self-directed assets to purchase a business, without tax implications?

Answer:

There are a number of programs available now that offer this type of scenario. Personally, I have not used this route but if the programs work as fluidly as they are presented to be, this can be a tremendous option. While you absolutely must have your attorney and accountant review any such deal, you may want to check out:

http://www.bizquest.com/resource/benetrends…

Apparently and allegedly the tax code allows you to transfer money out of a qualified retirement plan to purchase stock in your own business.

Since no “rollover” takes place, there is no taxable event. Once again, I must stress that you have this verified by a professional.

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