Proposed ban on IRA Accredited Investments Has Been Removed from Reconciliation Bill Build Back Better Act of 2021

Nov. 3rd, 2021: While the proposal to ban accredited investments in IRAs is still not in the latest pending bill, the Proposed Band of the Backdoor Roth & Mega Backdoor Roth is Back–See the following for more Information:

Great news! The government has dropped from the pending Build Back Better Act  the proposal to ban accredited investments from IRAs.

The additional provisions that would have impacted self-directed retirement accounts have also been removed from the bill:

  • The proposed ban of the backdoor Roth and mega backdoor 401k including the Roth solo 401k has been removed.
  • The proposed new required minimum distribution for high-balance retirement accounts has been removed.
  • The proposed ban on Roth conversions for high-income taxpayers has been removed.
  • The proposed ban on IRA accredited investments has been removed.
  • Also, the IRA LLC or the solo 401k LLC will not be banned.

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About Mark Nolan

Each day I speak with energetic entrepreneurs looking to take the plunge into a new venture and small business owners eager to take control of their retirement savings. I am passionate about helping others find their financial independence. Having worked for over 20 years with some of the top retirement account custodian and insurance companies I have a deep and extensive knowledge of the complexities of self-directed 401ks and IRAs as well as retirement plan regulations. Learn more about Mark Nolan and My Solo 401k Financial >>

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