Protect IRA Funds from Fraud with IRA Financial Group's Self-Directed IRA Tax Consultation Service

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IRA Financial Group’s tax consultation service will help self-directed IRA investors protect potential IRA investments from IRA attack and fraud.

IRA Financial Group

Through our IRA transaction review process, our IRA tax experts have been able to help clients uncover potentially fraudulent transactions and thus safeguard their retirement funds

IRA Financial Group, the leading facilitator of self directed IRA LLC retirement solutions, announces a new initiative to help protect its client from potential fraud. Each client of the IRA Financial Group will have the opportunity to consult directly with an IRA tax expert to review the potential IRA transaction from an IRS and fraud standpoint. “Through our IRA transaction review process, our IRA tax experts have been able to help clients uncover potentially fraudulent transactions and thus safeguard their retirement funds, “ stated Adam Bergman, a tax attorney with the IRA Financial Group. “I think one of the most valuable aspects our self-directed IRA establishment services is our IRA tax consultation services which is provided free of charge to all clients,” Stated Mr. Bergman.

IRA Financial Group’s goal is to provide our clients with direct access to IRA tax experts who can assist with the review of potential IRA transaction so that our clients are not engaging in any transaction that violates IRS rules or losing their investment as a result of fraud. “We found that through the process of reviewing potential client transactions, our IRA tax experts have been able to point out to clients potential fraudulent features of an IRA transaction, “ stated Mr. Bergman.

The Internal Revenue Code does not describe what a Self Directed IRA can invest in, only what it cannot invest in. Internal Revenue Code Sections 408 & 4975 prohibits Disqualified Persons from engaging in certain type of transactions. The purpose of these rules is to encourage the use of IRAs for accumulation of retirement savings and to prohibit those in control of IRAs from taking advantage of the tax benefits for their personal account.

When it comes to making a self-directed IRA LLC investment, in general, there are tree types of transactions that should not made. First, one should not purchase collectibles with retirement funds, which pursuant to Internal Revenue Code Section 408 is antiques, rugs, stamps, etc. Second, one should not use retirement funds to purchase S Corporation stock, and thirdly, one should not use not use retirement funds in any transaction with a disqualified person. The IRS has restricted certain transactions between the IRA and a “disqualified person”. The rationale behind these rules was a congressional assumption that certain transactions between certain parties are inherently suspicious and should be disallowed.
The definition of a “disqualified person” (Internal Revenue Code Section 4975(e)(2)) extends into a variety of related party scenarios, but generally includes the IRA holder, any ancestors or lineal descendants of the IRA holder, and entities in which the IRA holder holds a controlling equity or management interest.

The disqualified person rules are extremely broad and the penalties extremely harsh (immediate disqualification of entire IRA plus penalty). Thus, it is strongly advisable that the IRA owner self-directing his or her investments should work with a tax attorney who can help explain and uncover potentially prohibited as well as fraudulent transactions.

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. With our work experience at some of the largest law firms in the country, our attorneys legal and tax knowledge in this area is unmatched.

IRA Financial Group is the market's leading “checkbook control Self Directed IRA facilitator. 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 or call 800-472-0646.

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Jaclyn Baily
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