Loan from IRA to employer
I have a doctor client who made a loan from his rollover IRA to the clinic he works for. He now holds the note in the IRA. He is not on the executive or leadership team at the clinic. He’s just a doctor working there. Is this a prohibited transaction?
Thank you,
Bob
Permalink Submitted by Alan - IRA critic on Fri, 2018-01-26 00:42
Not unless he and/or his immediate family own 50% of the clinic.