Using a 401k Rollover To Finance a Small Business?
I have heard that you can take a non-taxable rollover from an existing 401k to invest in a new company. The procedure would be to establish a 401k plan at the new company, rollover all or part of your old 401k, then use the assets to purchase stock in the new company. Do you feel that this is
a) Legal
b) Sensible
Can I rollover my SEP-IRA into a new account that can buy stock in my startup business (C-Corp)?
My account manager suggested I create a 401k plan in the new company and then rollover my SEP-IRA into the 401K. From there the 401k can purchase stock in the private company.
I’m not sure of the validity of this or the legal or tax ramifications.
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