Our IRS approved open architecture individual 401(k) Plan is perfect for any small business owner looking to make traditional as well as non-traditional investments, such as real estate with their IRA or 401(k) funds
New York, NY (PRWEB) November 01, 2013
IRA Financial Group, the leading individual 401(k) Plan provider, announces the introduction of an open architecture qualified retirement plan investment program for the self-employed or small business owner with no employees. IRA Financial Group’s new open architecture individual 401k Plan was designed to offer self-employed retirement investors a diverse and wide array of investment opportunities for their retirement funds. Small business owners that have adopted an open architecture individual 401(k) plan can purchase stocks, mutual funds, precious metals, real estate, and much more. In addition, the individual 401K Plan account can be opened at any local bank and financial institution, including Fidelity, Scottrade, TD Ameitrade and more. “Our IRS approved open architecture individual 401(k) Plan is perfect for any small business owner looking to make traditional as well as non-traditional investments, such as real estate with their IRA or 401(k) funds”, stated Adam Bergman, a tax attorney with the IRA Financial Group.
There are many features of the IRA Financial Group’s open architecture Individual 401K plan that make it so appealing for self-employed entrepreneurs and small business owners.
-High Contributions: Like all individual 401K plans, IRA Financial Group’s open architecture individual 401K plan will allow a plan participant to make annual contributions in 2012 up to $51,000 annually with an additional $5,500 catch-up contribution for those over age 50. The high contribution feature is one of the reasons a self-employed 401K plan is the most popular retirement vehicle for the self-employed.
Tax free loan: IRA Financial Group’s open architecture individual 401K plan allows plan participants to borrow up to $50,000 or 50% of their account value (whichever is less) for any purpose, including paying credit card bills, mortgage payments, or anything else. The loan has to be paid back over a five-year period at least quarterly at a minimum prime interest rate (you have the option of selecting a higher interest rate).
-Checkbook Control: With IRA Financial Group’s open architecture individual 401k plan, a plan participant will be granted checkbook control over his or her retirement funds and can open the account at any local bank, including Chase, Wells Fargo, and even Fidelity. In addition, the plan participant can make almost any traditional as well as non-traditional investments, such as real estate, precious metals, tax liens, and much more.
-Easy Administration: IRA Financial Group’s open architecture individual 401(k) plan is easy to operate. There is generally no annual filing requirement unless the individual 401(k) Plan assets exceeds $250,000, in which case a short information return with the IRS (Form 5500-EZ) must be completed.
IRA Financial Group open architecture individual 401(k) Plan was designed specifically to provide self-employed investors with the ability to make a wide variety of investments through a single retirement account.
The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.
IRA Financial Group is the market's leading self-directed solo 401(k) Plan provider. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.
To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.