Rollover Business Start-Up helping thousands of Americans use retirement funds tax-free to fund a business
IRA Financial Group, a provider of Rollover Business Startup Solution (“ROBS”) solutions, has experienced a budding interest in people across the country looking to use their retirement funds to fund the purchase of a new business, especially franchises, without tax. In light of the increasing popularity of the ROBS solution, the IRA Financial Group has increased the volume of resources being allocated to compliance services, such as plan testing and plan reporting.
The rollover business start-up (“ROBS”) arrangements typically involves rolling over a prior IRA or 401(k) plan account into a newly established 401(k) plan, which a start-up C Corporation business sponsored, and then investing the rollover 401(k) Plan funds in the stock of the new C Corporation. The funds are then deposited in the C Corporation bank account and are available for use for business purposes. The ROBS business financing solution is a tax efficient way for any entrepreneur looking to use IRA fund to buy a business or franchise without incurring any tax or penalty from an IRA distribution. “We have been surprised by the strong demand of people looking to use their retirement funds to fund to buy a new business, especially franchises and have increased our investment in compliance related services,” stated Adam Bergman, a partner with the IRA Financial Group.
With IRA Financial Group’s ROBS structure, the limitation imposed using a Self-Directed IRA to buy a business can be sidestepped because the individual retirement account business owner would not be able to be actively involved in the business, earn a salary, or even personally guarantee a business loan. While, if the business owner used a ROBS strategy, that individual would be able to be actively involved in the business, earn a salary, as well as personally guarantee a business loan without triggering the IRS prohibited transaction rules.
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.
IRA Financial Group is the market’s leading provider of self-directed IRA LLC “checkbook control” solutions. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.
IRA Financial Group proudly announces the latest ROBS book titled written by tax partner Adam Bergman, Turning Retirement Funds into Start-Up Dreams – financing and retirement funding options for your start-up business is now available for purchase on Amazon. This is the third book in a four-part series on self-directed retirement plans. The first two books: “The Checkbook IRA” and “Going Solo” are also available on Amazon.