Archive for December, 2013

IRS Rules for the Solo 401(k)

December 30th, 2013

The “Solo 401K plan” is an IRS approved type of qualified plan , which is suited for business owners who do not have any employees, other than themselves and perhaps their spouse. The “one-participant 401(k) Plan” is not a new type of plan. It is a traditional 401(k) plan covering only one employee. The plans […]

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The Self Directed IRA In-House CPA Service

December 27th, 2013

IRA Financial Group is the only full service Self-Directed IRA facilitator that offers its clients the ability to consult with our in-house tax accountants and CPAs, in addition, to our tax professions. Our in-house CPAs are specially trained in the taxation of retirement accounts, which allows us to provide our clients with specialized tax advice […]

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IRA Financial Group Introduces Year-End Solo 401(k) Plan Guarantee for all Solo 401(k) Plan Clients Getting Started by December 31, 2013

December 26th, 2013

Solo 401(k) Plan must be established prior to December 31 2013 to be eligible for 2013 taxable year IRA Financial Group, the leading provider of “checkbook control” self-directed IRA and solo 401(k) plan solutions, announces a new year-end solo 401(k) plan deadline expediting service for all new individual 401(k) Plan clients seeking to establish a […]

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Recent IRS Guidance on in-Plan Roth Solo 401(k) Plan Rollovers Impacting Solo 401(k) Plan Owners

December 24th, 2013

IRS Notice 2013-74 offers guidance to solo 401(k) Plan owners on deadlines for adopting in-plan Roth rollover amendment The IRS on December 12, 2013 issued guidance in IRS Notice 2013-74 to qualified retirement plans, including the solo 401(k) plan, on in-plan rollovers to designated Roth Solo 401K accounts. The guidance in IRS Notice 2013-4 relates […]

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Prohibited Transactions With a Solo 401(k)

December 23rd, 2013

The Internal Revenue Code & ERISA does not describe what a Solo 401k Plan can invest in, only what it cannot invest in. Internal Revenue Code Sections 408 & 4975 prohibits Disqualified Persons from engaging in certain type of transactions. The purpose of these rules is to encourage the use of qualified retirement plans for […]

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What separates the IRA Financial Group from everyone else?

December 20th, 2013

The IRA Financial Group is owned and operated by tax and ERISA professionals who have worked at some of the largest law firms in the United States, including White & Case LLP and Dewey & LeBoeuf LLP. As a result, our retirement tax professionals’ tax and IRA knowledge in this area is unmatched. Unlike our […]

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Do you need a Fidelity Bond for a Self-Directed 401(k) Plan?

December 19th, 2013

In general, a trustee for a 401(k) qualified retirement plan subject to the ERISA rules is required to be bonded. However, ERISA Section 412 provides an exemption for trustee bonding.  The following is an excerpt from ERISA Section 412: “Every fiduciary of an employee benefit plan and every person who handles funds or other property […]

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Does a Solo 401(k) Plan Trustee Need a Fidelity Bond?

December 19th, 2013

In general, a trustee for a 401(k) qualified retirement plan subject to the ERISA rules is required to be bonded. However, ERISA Section 412 provides an exemption for trustee bonding.  The following is an excerpt from ERISA Section 412: “Every fiduciary of an employee benefit plan and every person who handles funds or other property […]

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