If my spouse invests 401k funds, does my spouse need to work in the ROBS 401K-funded business?

December 19, 2022 | By George Blower

ROBS 401K FAQ – If my spouse invests 401k funds, does my spouse need to work in the business?

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ROBS 401k FAQ: Spouse must work if will invest retirement funds

QUESTION:

I am using the ROBS 401k plan to fund a commercial cleaning franchise. We will both invest our retirement funds. Does my spouse need to work in the business?

RESPONSE:

If both of you will invest your retirement funds, both of you need to work as bona fide employees of the business.

Tags: robs 401k, robs 401k program, robs program, rollover as business startup, spouse, use 401k to buy a business, use ira to buy a business, working in business

About George Blower

I have the privilege of educating our clients about our products and services so that they can make informed and confident decisions about their financial future. Prior to joining My Solo 401k Financial, I served as the general counsel for a subsidiary of a Fortune 500 financial services company. Learn more about George Blower and My Solo 401k Financial >>

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