I have a client that wishes to invest his Ira in a private S corp stock. I am aware this can be done. The comapny will be involved in real estate and athletics. Do you know any companies that can assist my client in setting up the necessary documents. The 2nd question is he is over 70 1/2 is there any special rules pertaining to this. I know he has to take his rmd’s.
Should not be a problem as long as you follow self directed IRA rules. We can refer you to a custodian who will work with your client.
I have a client looking for investors for a similar project in Dayton, OH. If you know anyone looking for a real estate investment opportunity, let me know. My email is [email protected].
Ted Gudorf, Esq.
If an IRA invests in an S Corp, the S Corp will lose it’s Subchapter S status. Only a natural person can own S Corp stock. This excludes ownership by other Corporations, LLC, IRAs, or any other fictitious entity.
The IRA can however own shares in a Corporation or membership units in an LLC. My company sets up these types of accounts –> [url]http://www.nabersgroup.com[/url%5D
Jeff Nabers
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