Many people have a considerable amount of money built up their retirement account, so when looking to start their own business, it just makes sense to use it towards the startup costs. There are many rules to follow, but Ultegra Business can help business owners do this quickly and legally.
Retirement accounts can be an excellent way to get together enough money to start your dream business, and owning a successful business is a great way to fund retirement.
How it Works
In order to get started with the 401K funding process, there are a few requirements: You must create a C-Corporation, open up a new qualified retirement plan, roll-over funds, and then apply financing. Obviously, this is a oversimplified version of the process, but what is important to remember is that it is possible, and it is legal. The Ultegra Business team can assist you with all portions of the process, so if you are considering this process, be sure to give us a call to discuss all available options. Call 1.888.893.6828 for a complimentary business analysis meeting today.
Qualifying for 401K Financing
Depending on you you proceed, you will need to have a qualifying retirement plan (401(k), 403(b), Traditional IRA, Keogh, TSP, or SEP) and then you will need to follow all procedures documented in the Rollovers for Business Start-ups (ROBS) guide.