Learn more about prohibited transaction rules with your self-directed IRA LLC:
–
A conflict of interest transaction with a self-directed IRA LLC is an “indirect prohibited transaction.”
What is an indirect prohibited transaction?
This is where you (the IRA holder) send/invest money in a transaction that involves disqualified persons indirectly.
The conflict of interest prohibited transaction is similar to self dealing.
Example:
You (IRA holder) invests in a business using your IRA funds to secure a job. You are not investing in a business for the benefit of your IRA, but for yourself. This is an investment the IRS prohibits.
–
Subscribe to our channel:
–
Adam Bergman founded IRA Financial Group and IRA Financial Trust. Prior, he was a tax attorney at some of the largest law firms in the country, including White & Case LLP. He’s written 7 books on the taxation of Self-Directed IRA and 401(k) plans and is a frequent contributor to Forbes.com as well as a member of the Forbes Finance Council. IRAFG was founded to help educate Americans about self-directed retirement investments, empowering them to gain control over their funds.
–
FOLLOW US!
…(read more)
LEARN MORE ABOUT: IRA Accounts
TRANSFER IRA TO GOLD: Gold IRA Account
TRANSFER IRA TO SILVER: Silver IRA Account
REVEALED: Best Gold Backed IRA
0 Comments