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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.
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
Frank focuses his practice on Rollover Business Startups, Self-Directed IRAs and Solo-Ks, and estate planning for business owners. Prior to law school he worked in banking and insurance. Frank is also a Judge Advocate in the Washington Army National Guard. He served two tours in Iraq. While some say he is an expert at self-directed retirement planning, Frank prefers to say his experience is active listening and creative thinking.
To ask Frank "what do you do with your free time" results in a blank stare. He is happily married. He and his lovely wife Barbara have 6 children and 4 grand children. Frank sometimes disappears for walks with his goldendoodle Loki or on a golf course.
excellent content and presentation
Very good presentation of a somewhat complex area of qualified plans. practical and to the point examples and explanations. Kept my interest for 2 hours. Very effective and matter of detailed explanation of the p[potential pitfalls and compliance issues.
Good grasp of the subject matter
I actually liked the lectured. He was very thorough.
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