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Found 2 results

  1. KEM
    Say an individual's self-directed IRA owns a business, and the individual is curious which (if any) services he can provide to the business (ex. offer consulting services). Question is, does this run afoul of the prohibited transaction rules? I'm thinking yes, with respect to Code Sec. 4975(c)(1)(C) - because it would involve a disqualified person furnishing services to a plan asset (akin to the individual being prohibited from providing free labor/repairs to an investment property owned by the self directed IRS). Curious if others agree, or have other thoughts.
  2. lisabroc
    We are working with a new 401(k) client and in reviewing the ownership structure, we see a number of IRA's listed as owners in the C-Corp. Is this permitted? The IRA's belong to employees (mostly with little or no ownership %). However, one of the IRA's belongs to an officer/co-founder/employee who has 5% ownership in the company. Could this pose prohibited transaction violations?
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