[CLBS] Erisa question

[Ford Elsaesser]

You can borrow as an individual from your 401k. Not ira  probably is a distribution  ford

Sent from my iPhone

> On Aug 1, 2014, at 2:36 PM, "Catherine Dullea" <cldlaw at gmail.com> wrote:
> 
> Dear List Mates:
> 
> This isn't exactly a commercial or bankruptcy law question, but someone out
> there may know the answer or who else might.
> 
> 
> 
> Client owns 45% of an LLC and is also the managing member.  He wants to make
> a loan to the LLC through his IRA.  The IRA holder says it won't insure that
> the IRS won't characterize the loan as a distribution under ERISA.  He can't
> suffer that kind of a tax hit.  
> Any golden pearls of wisdom would be appreciated.  They can find another
> lender.
> 
> 
> 
> --Katie Dullea
> 
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