To understand how you can finance your new business with
your 401k or other qualified plan you must understand how to access your
savings without taxes, penalties, or interest, you must understand two
bodies of law. The two bodies of law that govern the BORSA
structure are the:
- Employee Retirement Income Security Act of 1974 (ERISA), and
the
- Internal Revenue Code of 1986 (IRC).
For purposes of the BORSA structure, ERISA governs who is eligible
and what you can or can not do in a qualified plan, while the IRC
addresses what is deductible going into the plan and how money is taxed
when it is taken out of the plan.*
The graphic on the right depicts how assets move within the BORSA.
Learn more about how the BORSA works to fund your new business or
franchise by
clicking here to read our White Paper.
For a personal consultation and explanation of the BORSA, call us at
281-954-6040
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