Gary Posted July 15, 2010 Posted July 15, 2010 A one participant/owner implements his own profit sharing plan. No other employees. His plan has say 100k in assets. The owner wants to invest in art work with some of the plan assets. As far as I know this is an allowable investment. Does anyone know for certain that such an investment is permissible? Or know otherwise? Thanks.
rcline46 Posted July 16, 2010 Posted July 16, 2010 Permissable - yes. must be valued every year, must be kept in a secure facility and a host of other problems.
K2retire Posted July 16, 2010 Posted July 16, 2010 Permissable - yes. must be valued every year, must be kept in a secure facility and a host of other problems. And the owner's home is generally NOT considered a secure facility.
movedon Posted July 16, 2010 Posted July 16, 2010 Duplicate post - http://benefitslink.com/boards/index.php?s...c=46100&hl=
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