Boy do I get a lot of blowback every time I share my findings about why the government has declared ROBS illegal!
Why is there not a specific government ruling on ROBS?
It’s because once an issue has been ruled on, they don’t repeatedly consider it. “They” are the Department of Labor, and the first step of learning about Self-Directed IRA and 401(k) rules is finding out that “prohibited transactions” are an issue outside the jurisdiction of the IRS and in the hands of the Department of Labor (DOL).
When ROBS Was Ruled On
It was 2006. Debra Buchanan, the creator of the IRA LLC, asked the DOL a question about [Read more…]