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Rollover Business Startup (ROBS): Creation, Creativity & Compliance

2h

Created on October 14, 2013

Beginner

Overview

One expert suggests that around 10% of the 600,000 businesses started last year involved retirement funds. Some of that 10% are passive investments with little complications. However, for those businesses where the investor is also an employee, officer, director or other shareholder of that business the rules are more complex. In 2008, the IRS started what they called the Rollover Business Startup (ROBS) project which focused on prohibited transaction, tax and reporting issues they spotted when someone uses their own qualified funds to start their business.  Join Frank Selden, an attorney who has helped over 1,200 clients start a business using their own retirement funds,  as he reveals the legal issues facing attorneys and CPAs who have clients with businesses where the clients  are investing retirement funds.

 

Learning Objectives:

I.    Institute a ROBS funding properly

II.   Comply with IRS key issues

III.  Distinguish between advising a ROBS corporation from other corporate clients

IV.  Differentiate between a 401(k) plan adopted by a ROBS corporation and other plans

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