Generally, a “disqualified person” includes, but is not limited to:
- Yourself
- Your lineal ascendants and descendants
- The spouse of a lineal descendant
- Your spouse
- Any entity that is owned 50% or more by disqualified persons
- An entity that is controlled 50% or more by disqualified persons
Yes, your IRA can invest with other partners and yourself individually. However, it is important to consult legal counsel in these situations to observe formalities and rules that may be associated with that investment.
No. Your IRA funds are rolled over from your existing IRA account to a new IRA. Your funds remain in a retirement setting and will not result in any early withdrawal fees.
