QUESTION: My fund is a 401A plan because I worked for a political subdivision. Is there anything different in the process of moving the funds tax and penalty free into my c corp? These funds would be for a new company startup.
ANWER: Yes a 401A, a type of governmental plan offered to employees of the USA or governmental agency, or state government or political subdivision, may be transferred to a ROBS 401k.
What’s more, other types of government plans such as 403(b) and 457 may be transferred to a ROBS 401k.