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Richard - Bizlaw
Richard - Bizlaw, Attorney
Category: Business Law
Satisfied Customers: 9709
Experience:  30 years of corporate, litigation and international law
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I recently looked into buying a campground using my 401K as

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I recently looked into buying a campground using my 401K as investment money. The brokerage I was dealing with told me I could use my 401K without penalty by forming a corporation and rolling my 401K into the stock of that new company as my retirement investment therefore there would be no early withdrawal a or penalty imposed... A great way to start a business if true. ANd if do you find the expert legal or accounting group who can set this up right. I am sure if I can use it this way to buy a campground I could use it that way to buy other business. Need direction where to find right people to do this the right way... What is the transaction called?

bizlaw :

You need to retain an ERISA law expert because there are some issues you have to navigate. The biggest concern is the dealings with parties in interest prohibitions and prudent man rule for investments and particularly concentration of investments. Other than dealing with these concerns you should be able to make the investment you plan.

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This communication is not intended as legal advice. A local attorney should always be consulted for legal advice. No client/attorney relationship is intended or created by this communication.

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