Archive for the ‘Solo 401K Loan’ Category

Loans From 401(k) Plans Are Viable Last Resort For Hurricane Victims

September 7th, 2017

Here’s another article from Adam Bergman that appeared on Forbes.com – Hurricane Harvey has set a record for rainfall in the continental United States. It is estimated that some 100,000 homes have been affected by Harvey all with differing degrees of insurance coverage.  In addition, at least 37 people have died from the storm. Over […]

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How to Take a Loan from Your Solo 401k Plan

June 19th, 2017

As long as the plan documents allow for it & the proper loan documents are prepared and executed, a participant loan can be made for any reason. The solo 401k loan is received tax free and penalty free. There are no penalties or taxes due provided loan payments are paid on time. The IRA Financial […]

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Millennials Using Solo 401(k) Plan Loan Option to Enter Housing Market

May 31st, 2017

401(k) Plan loan feature helping first-time home buyers secure necessary funds to purchase a home IRA Financial Group, the leading provider of solo 401(k) plans for self-employed and small business owners, has seen a growing number of millennials who are first time home buyers using the 401(k) plan loan feature to purchase a home, according […]

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How Does the Prime Rate Hike Affect Your Solo 401k?

March 24th, 2017

A Solo 401k loan is permitted at any time using the accumulated balance of the Solo 401k as collateral for the loan. A Solo 401(k) participant can borrow up to either $50,000 or 50% of their account value – whichever is less. This loan has to be repaid over an amortization schedule of five years […]

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How to Use a Self-Directed 401k Loan to Make an Investment

March 15th, 2017

When it comes to using retirement funds, such as a Solo 401K Plan, to make investments, the question arises whether a Solo 401K Plan can utilize a loan as part of the transaction. The IRS has always allowed a Solo 401K Plan, also known as a Self-Directed 401K, to make traditional as well as non-traditional […]

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Am I Restricted by the Prohibited Transaction Rules when Taking a 401k Loan?

July 28th, 2016

No. A Solo 401(k) loan is permitted at any time and for any purpose using the accumulated balance of the Solo 401(k) as collateral for the loan. A Solo 401(k) participant can borrow up to either $50,000 or 50% of their account value – whichever is less. This loan has to be repaid over an amortization […]

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Making Investments with a Solo 401(k) Loan

April 27th, 2016

When it comes to using retirement funds, such as a Solo 401K Plan, to make investments, the question arises whether a Solo 401K Plan can utilize a loan as part of the transaction. The IRS has always allowed a Solo 401K Plan to make traditional as well as non-traditional investments such as real estate. However, […]

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When Can a Solo 401k Loan be Useful?

April 4th, 2016

A solo 401k loan is permitted at any time using the accumulated balance of the solo 401k as collateral for the loan. A Solo 401(k) participant can borrow up to either $50,000 or 50% of their account value – whichever is less. This loan has to be repaid over an amortization schedule of 5 years […]

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