Tag Archives: robs 401k

ROBS 401K – Deep Dive Re Form 5500 Filing/Recordkeeping/Annual Compliance (IRS/DOL)

Please check out our webinar reviewing the annual Form 5500 requirement for ROBS 401k plans. VIDEO SLIDES: ROBS 401K Webinar – A to Z Guide Form 5500 ROBS 401K – What is Form 5500? “Informational” tax return Provides information about the 401k plan Filing the Form 5500 is consistently recognized by the Internal Revenue Service […]

Can’t Use Non-Spouse Inherited IRA or 401k Funds to Finance a ROBS 401k

QUESTION:  I have an IRA account with Fidelity that I inherited from my mother? That only has $29,000 and it and I would like to use it to start an online video editing business with. I would like to use this money in the IRA to help me get started. ANSWER: Good question. Unfortunately, the […]

SBA Loan Down Payment: How to Use 401k/IRA Tax & Penalty-Free

Please check out today’s webinar regarding using your 401k/IRA funds as tax & penalty-free down payment for an SBA Loan. Click HERE to Pre-Qualify for an SBA Small Business Loan SBA Loan FAQs: CLICK HERE How to Use Your 401k/IRA as an SBA Loan Down Payment: Tax-Penalty Free A rollover as business startup (ROBS) transaction […]

Small Business Stimulus: SBA Waives 6 months Payments on New SBA Loans

As part of the coronavirus debt relief under the CARES Act, the Small Business Administration will pay 6 months of principal, interest, and any associated fees that borrowers owe for new SBA business loans disbursed prior to September 27, 2020. The relief is available for new 7(a), 504, and Microloans that are fully disbursed prior […]

ROBS 401K Inheritance Rules – What happens when you die?

ROBS 401K Inheritance Rule – Question  My wife and I own and operate a UBreakIFix franchise in Texas.  We primarily funded the business with retirement funds from my former employer 401k via a ROBS 401K Business Financing plan (she also invested a relatively small amount of funds from her savings).  I have designated my spouse […]