Frequently Asked Questions To view each answer, simply click the appropriate question. Is it legal to purchase non-standard assets using my IRA?
The answer is yes! The Employee Retirement Income Security, ERISA, Act of 1974 passed the responsibility of retirement saving from the employer to the employee. Created in 1975, IRAs provide individuals a chance to direct where their retirement funds were invested. The IRS code, instead of distinguishing which investments are allowed, identifies which investments are not permitted under these laws. Under both ERISA and IRS Codes, there are only two types of investments excluded: Life Insurance Contracts and Collectibles such as works of art, rugs, jewelry etc. Refer to Internal Revenue Code Section 401 (IRC ยง 408(a) (3)).
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- Frequently Asked Questions Is it legal to purchase non-standard assets using my IRA?
