QUESTION
Is it possible to rollover a 401K plan fund to purchase a small business.
Asked on May 23rd, 2012 on Business Law - Indiana
More details to this question:
I recently have left an employer and have been looking a purchasing a small business. I currently live in Indiana but thwe business ias located in Wisconsin.
1 ANSWER
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It is technically possible to roll over your 401(k) account to an individual retirement account that invests in "non-traditional" assets. These investments must be made for the benefit of the IRA and not for your personal benefit. You will need a competent attorney to assist you in any such transaction.
Answered on May 23rd, 2012 at 2:18 PM