Prohibited Transactions
Ask Before You Act
The list of qualified investments from your IRA is extensive. However, you must comply with specific regulations. The IRS prohibits some transactions, so it is a good idea to consult a qualified plan administrator or custodian prior to making any questionable investment.
The prohibited transaction will generally involve the improper use of your IRA or Qualified Plan holdings by you or any disqualified person. A disqualified person includes:Â any member of your immediate family (except siblings), employers, certain partners, and fiduciaries. Consult your plan administrator or custodian for specific considerations.
Prohibited self directed IRA investments include collectibles, which include works of art, rugs, antiques, metals, other than gold and palladium bullion, gems, stamps, coins, except certain U.S. minted coins, alcoholic beverages and other tangible personal property as defined by the Secretary of the Treasury.
Although you may lend money from your IRA, you may not borrow for your personal use, sell you own property to your IRA or use your IRA as security for a loan.
To be referred to a strategic partner, please email info@sourcelv.com.
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