Take Control of Your Bitcoin Investments
Discover the advantages of using a Solo 401(k) to buy Bitcoin. You don’t have to pay taxes on your investment with a Bitcoin 401(k)! You can defer taxes with a traditional Solo 401(k) or eliminate taxes completely with a Roth Solo 401(k).
401(k) Bitcoin Eligibility
If you’re self-employed or own a small business with no full-time employees other than yourself and a spouse, you’re eligible to establish a 401(k) Bitcoin.
Work with Us!
IRA Financial will establish an IRS approved Self-Directed Solo 401(k), update your plan documents and offer consultations on preparing and filing tax forms.
Open a Bank Account
Open your Bitcoin 401(k) account at any local bank or financial institution. Our 401(k) specialists will assist you in opening a bank account for your plan.
Rollover Retirement Funds
Rollover your retirement funds from your current custodian to the new Bitcoin 401(k) Plan account tax-free.
As trustee of the Solo 401(k) Bitcoin Plan, you gain “checkbook control” over your assets/funds. You can make Bitcoin investments simply by writing a check or wiring funds from your plan bank account.
Start investing in cryptocurrencies, such as Bitcoin! All income and gains from your Bitcoin investment flows back into your 401(k) Plan tax-free.
The IRA Financial Difference
We believe that top-tier self-directed retirement solutions can be affordable, and we deliver them with professionalism, quality, and efficiency.
Why choose IRA Financial
IRA Financial will strive to be the best self-directed retirement & pension administrator in the country through a mixture of technology and amazing customer service.
We are genuinely interested in educating our customers and will not compromise our ethics, mission, and integrity in the name of profit.
“What about your IRA, including rollover IRA? You need to look at state law, advises tax attorney Adam Bergman of New York’s IRA Financial Group.”
“Adam Bergman…gets several calls a day from clients like McDermott looking to invest their retirement funds in real estate. ‘Our average client has retirement accounts of about $150,000 and is looking to buy one or two properties.’”
“Jeff Brown…transferred roughly $50,000 from his workplace 401(k) to purchase homes to fix up and sell…He uses a self-directed IRA that he set up through IRA Financial Group in Miami Beach.”
Our tax and ERISA specialists have helped over 12,000 clients invest $4 billion in alternative assets, including Bitcoin.
IRA Financial Group’s founder, Adam Bergman, is the author of seven books on Self-Directed IRA retirement plans.
Adam Bergman is a frequent contributor to Forbes.com and is an official member of the Forbes Financial Council.
“My needs certainly required service above and beyond normal expectations and IRA Financial Group delivered! I needed to set up a Self-Directed IRA Coverdell with Checkbook control for my daughter before her 18th birthday, which was just days away. IRA Financial Group pulled off the unlikely and I couldn’t be more thankful. I’m recommending them to all my friends and family!”
Neil Palmquist, New York
“I recently established a Self-Directed IRA LLC with IRA Financial Group. I did my homework and am thrilled that I chose this company. Their customer service has been outstanding! Each step in the process has been clearly outlined and every staff member has quickly responded to any question I have. I’m 100% satisfied to date.”
Robin McLaughlin, Massachusetts
Frequently Asked Questions
No. According to IRS Notice 2014-21, for federal tax purposes, cryptocurrency is treated as property. General tax principles applicable to property transactions apply to transactions using virtual currency. The character of the gain or loss associated with the cryptocurrency investment generally depends on whether the cryptocurrency is a capital asset in the hands of the taxpayer. A taxpayer generally realizes capital gain or loss on the sale or exchange of cryptocurrency that is a capital asset in the hands of the taxpayer. For example, stocks, real estate, and other investment property are typically capital assets. Whereas, a taxpayer generally realizes ordinary gain or loss on the sale or exchange of cryptocurrency that is not a capital asset in the hands of the taxpayer, such as business income from mining or other business activities.
Yes and No. In a statement by the Securities & Exchange Commission (“SEC”) Chairman Jay Clayton on cryptocurrencies on December 11, 2017, Mr. Clayton was clear that the SEC has “interests and responsibilities” with respect to cryptocurrencies. Mr. Clayton did express caution for investors looking to make initial coin offering (“ICO”) investments. In addition, Mr. Clayton was clear that if an ICO shared the same characteristics of a security then it must be subject to securities laws.
In sum, the SEC has not gone on record holding that cryptocurrencies are securities and are, thus, subject to securities law, however, they have taken the lead in prosecuting various cryptocurrency related cases and it does appear that they are potentially heading in that direction. In any event, anyone looking to raise money through an ICO should be mindful of the SEC securities laws.
Yes. The Internal Revenue Code does not describe what a retirement account can invest in, only what it cannot invest in. Internal Revenue Code Sections 408 & 4975 prohibit “disqualified persons” from engaging in certain types of transactions, such as collectibles, life insurance, and self-dealing and conflict of interest type transactions. The definition of a “disqualified person” (Internal Revenue Code Section 4975(e)(2)) extends into a variety of related party scenarios, but generally includes the retirement account holder, any ancestors or lineal descendants of the 401(k) plan participant, and entities in which the 401(k) plan participant holds a controlling equity or management interest.
Because the IRS treats cryptocurrencies, such as Bitcoins, as a capital asset, such as stocks or real estate, a retirement account is permitted to buy, sell, or hold cryptocurrencies, subject to the prohibited transaction rules found under Internal Revenue Code Section 4975(c).
No. Under IRC Section 1091, the IRS prohibits a taxpayer from claiming a loss on the sale or trade of a security in a wash sale. The rule defines a wash sale as one that occurs when an individual sells or trades a security at a loss, and within 30 days before or after this sale, buys a “substantially identical” stock or security, or acquires a contract or option to do so. Currently, cryptocurrencies are treated as property by the IRS and have not been treated as a stock or security by any government agency. Accordingly, the wash sales rules are believed to not be applicable to cryptocurrencies.
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