Solo 401(k) Plan solution will accept direct rollovers from former employer retirement plan tax and penalty-free.
IRA Financial Group, the leading provider of self-directed solo 401(k) plans, announces the introduction of the “Employer Rollover Solo 401k Plan Solution” for individuals who wish to rollover former employer 401(k) Plan, 403(b), or 4579b) funds to a self-directed retirement plan. The “Employer Rollover Solo 401k Plan Solution” is designed specifically for individuals who have left their former employer in order to establish their own business and wish to rollover the retirement funds into a new retirement plan established by the new business. “The “Employer Rollover Solo 401k Plan Solution” will allow an individual with former employer retirement assets to roll the assets tax-free into a self-directed Solo 401(k) Plan,” stated Adam Bergman, a tax attorney with the IRA Financial Group. “The Solo 401(k) Plan will allow the individual to make traditional as well as non-traditional investments, such as real estate with the retirement funds as well as borrow up to $50,000 tax-free for personal or business use,” stated Mr. Bergman.
IRA Financial Group’s Solo 401K Plan is a cost effective 401(k) plan that was designed specifically for the self-employed or the small business owner with no employees. The Solo 401K plan, also called the Individual 401K or Self Directed 401K Plan is a retirement plan designed to maximize contributions and be less complex and less expensive to maintain than a conventional 401(k) Plan. With the Solo 401(k) Plan, a plan participant can make high contributions – up to $56,500 – borrow $50,000 or 50% of his or her account value, and make real estate and other investments tax-free and without custodian consent.
With IRA Financial Group’s Solo 401(k) Plan, as trustee of the plan, the plan participant will have the ability to make traditional (stocks, mutual funds, etc) as well as non-traditional investments (real estate, precious metals, tax liens, private businesses, etc) tax free and without requiring the custodian consent. Furthermore, IRA Financial Group’s Flex Solo 401K Plan account can be opened at any local bank or credit union. “No longer will an individual be told by a bank that he or she cannot make IRS approved investments with their retirement funds, such as real estate,” stated Mr. Bergman.
According to Mr. Bergman, “with IRA Financial Group’s “Employer Rollover Solo 401k Plan Solution” individuals would gain the flexibility to use their former employer 401(k), 403(b), or 457(b) retirement assets and gain more control over them in order to make traditional as well as non-traditional investments, such as real estate tax-free and penalty-free.”
With IRA Financial Group’s Flex Solo 401(k) Plan, each individual will have checkbook control over their retirement funds so they can purchase real estate, precious metals, and much more tax-free and without custodian consent!