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New Trend of Americans Wishing to Hold Foreign Assets Without IRS Reporting Turning to Solo 401(k) Plan & Self-Directed IRA, According to IRA Financial Group Attorney

Saturday, August 24th, 2013


Miami, FL (PRWEB) August 16, 2013

IRA Financial Group, the leading provider of self-directed IRA and Solo 401(k) Plans, has seen a surge an interest for the self-directed IRA and Solo 401(k) product as a vehicle to hold assets outside of the United States without triggering any U.S. reporting requirements. The main trigger for cutting ties with U.S., several lawyers say, is the Foreign Account Tax Compliance Act, or Fatca, which requires foreign institutions to disclose the overseas assets of U.S. green-card holders and citizens to the U.S. government. The main objective of Fatca is to identify people who may be evading taxes through offshore investment vehicles.

U.S. citizens, U.S. individual residents, and a very limited number of nonresident individuals who own certain foreign financial accounts or other offshore assets must report those assets using IRS Form 8938. In general, taxpayers with a total value of specified foreign financial assets below a certain threshold do not have to file Form 8938. If the total value is at or below $ 50,000 at the end of the tax year, there is no reporting requirement for the year, unless the total value was more than $ 75,000 at any time during the tax year. It is important to remember that the new Form 8938 filing requirement does not replace or otherwise affect a taxpayers obligation to file Form TD F 90-22.1 (Report of Foreign Bank and Financial Accounts), stated Adam Bergman, an in-house tax attorney with the IRA Financial Group. According to Mr. Bergman, individuals must file each form for which they meet the relevant reporting threshold.

According to Mr. Bergman, when using retirement funds to make foreign investments, either via a self-directed IRA or a qualified retirement plan, such as a Solo 401(k) Plan, the IRS under the FBAR rules and IRS Form 8938 exempt retirement accounts from such filings. As a result of the very stringent foreign bank account filing requirements, there has strong interest in U.S. persons wishing to hold assets outside the U.S.

IRA Financial Groups Self-Directed IRA and Solo 401(k) Plan are perfect vehicles for U.S. retirement investors looking to self-direct their retirement funds and make traditional as well as non-traditional investments tax-free. We have seen an surge in demand from clients looking to hold assets outside the U.S. and not be bogged down with very complex filing requirements, stated Mr. Bergman.

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.

IRA Financial Group is the market’s leading checkbook control Self Directed IRA & Solo 401(k) Plan Facilitator. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.







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Self-Directed IRA Investors Reaping Major Gains in Strong 2013 Hosing Market, According to IRA Financial Group Survey

Sunday, June 2nd, 2013


Miami, FL (PRWEB) May 29, 2013

IRA Financial Group, the leading facilitator of self directed IRA LLC structures announces the finding of a 2013 client survey that found a strong percentage of self directed IRA and Solo 401k plan investors that established an IRA for real estate or Solo 401K plan for real estate experienced strong gains in their real estate investments. The IRA Financial Group survey is consistent with The Standard & Poors Case-Shiller index which announced on May 28, 2013 that home prices in March rose by 10.9% compared to one year earlier, the largest such gain in nearly seven years.

Retirement investors are beginning to reap the rewards of real estate investments made over the last few years into a depressed U.S. real estate market, stated Adam Bergmam, a tax attorney with the IRA Financial Group. By purchasing the real estate assets in a self-directed IRA LLC, the investors have been able to defer the tax due on the gains and re-invest those funds into additional real estate investments, stated Mr. Bergman.

According to Mr. Bergman, IRA Financial group helped thousands of retirement investors establish self-directed retirement solutions in order to take advantage of a real estate market that many believe had it the bottom.

The IRS has always permitted an IRA to purchase real estate, raw land, or flip homes. With IRA Financial Groups self-directed IRA LLC solution, buying rental properties is as simple as writing a check and is tax-free, stated Scott krokoff, a tax attorney with the IRA Financial Group. As the manager of your Self-Directed IRA LLC, the IRA holder will have control over his or her IRA funds so that a real estate purchase can be made by simply writing a check, stated Mr. Krokoff. One major advantage of buying rental properties with a Self-Directed IRA is that all rental income generated by the property is tax-deferred until a distribution is taken (Traditional IRA distributions are not required until the IRA owner turns 70 1/2). In the case of a Self-Directed Roth IRA LLC, all gains are tax-free.

IRA Financial Groups true self-directed IRA LLC solution involves the establishment of a limited liability company (LLC) that is owned by the IRA (care of the IRA custodian) and managed by the IRA holder or any third-party. As manager of the IRA LLC, the IRA holder will have control over the IRA assets to make real estate and other investments tax-free and without custodian consent.

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In Light of the Recent Bank Crisis in Cyprus, IRA Financial Group Clients Looking to Hold Gold Personally in their Self-Directed IRA Accounts

Tuesday, May 14th, 2013


Miami, FL (PRWEB) May 07, 2013

IRA Financial Group, the leading provider of self-directed IRA LLCs, has seen a growing number of retirement investor looking to protect their retirement funds from a Cyprus type banking crisis that could wipe out their retirement savings. We have seen a growing number of retirement investors looking to hold gold and IRS approve coins, such as American Eagles, personally, stated Adam Bergman, a tax attorney with the IRA Financial Group.

Cyprus, which has been a member of the European Union since 2004 and the Euro zone since 2008, was recently on the brink of financial collapse. Its two major banks, the Popular (Laiki) and the Bank of Cyprus were abruptly closed on March 15, 2013 until further notice. A large number of U.S. investors took notice what occurred in Cyprus and turned to holding gold and American Eagle coins personally in a self-directed IRA LLC, stated Mr. Bergman. “Holding gold personally in a self-directed IRA has offered retirement investors a safeguard against a U.S. bank crisis akin to what occurred in Cyprus in 2013, ” stated Mr. Bergman.

Unlike precious metals, the Internal revenue Code and the legislative history does not include a requirement that IRS approved coins be held in the physical possession of a U.S. trustee. When it comes to coins or metals, Internal revenue Code Section 408 is generally the provision that applies. In general, collectibles such as artworks, rugs, stamps, certain coins, beverages and antiques, etc. are not allowed within a Self-Directed IRA LLC pursuant to Internal Revenue Code Section 408.

Internal Revenue Code Section 408 is specific as to what defines a collectible. Some notable exceptions are allowed for certain gold (such as American Eagle) and silver coins and any coins issued by a state. Legislation in 1997 further liberalized the rules for IRAs by making reference to specific definitions of acceptable coins in USCS, title 31; IRC sections 5112(a), (e) and (k); the Commodity Exchange Act; and IRC section 408(m)(3).

Holding gold coins personally in a self-directed IRA LLC as provided a number of pour clients with comfort that their retirement funds will be protected in the case of a domestic banking crisis, stated Maria Ritsi, a paralegal with the IRA Financial Group. IRA Financial Group does recommend that its clients hold IRS approved gold and coins at a depository or IRS approved trustee.

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.

IRA Financial Group is the market’s leading provider of “checkbook control” self-directed IRA LLC structures. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.







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Retirement Investors Turning to Master Limited Partnership Investments Through a Self-Directed IRA to Bolster Their Retirement Savings, IRA Financial Group Reports

Sunday, September 23rd, 2012


Miami, FL (PRWEB) September 21, 2012

IRA Financial Group, the leading facilitator of self-directed IRA LLC solutions has seen a strong growth in demand for retirement account holders looking to bolster their retirement savings by diversifying their retirement portfolio and making investments into oil and gas master limited partnerships (MLPs).

Over the last 6 months, we have seen a significant a number of new clients looking to use retirement funds to make investments into oil and gas master limited partnerships in order to improve their retirement prospective even though there may be a potential tax on the income, stated Maria Ritsi, a paralegal with the IRA Financial Group. Using a self-directed IRA to invest in a MLP is allowed by the IRS, however, using an IRA to make the investment could trigger a tax since the income could be considered unrelated business taxable income (UBTI). “In other words, if the income is considered active business income and is not considered passive, such as a royalty, a tax of approximately 35% can be imposed on the income generated by the MLP,” stated Ms. Ritsi.

Since the stock market crash of 1998, many Americans have been disheartened with the conventional buy-and-hold approach to retirement investing and the dismal returns it has provided. Accordingly retirement investors, especially baby boomers are eager to improve their retirement prospects. What we have noticed is that a large portion of investors are seeking to use a self-directed IRA to take advantage of the attractive returns that master limited partnerships, especially in the oil and gas industry have been providing, stated Ms. Ritsi.

Our average client has approximately $ 125,000 in their retirement account, which is inline with the average American, stated Jacky Ospina of the IRA Financial Group. Americans collectively are $ 6.6 trillion short of the amount needed to retire comfortably, according to a 2010 analysis by the Center for Retirement Research at Boston College. American retirement investors are enthusiastic to increase the value of their retirement accounts and are looking to a self directed IRA as an answer, stated Ms. Ospina.

The IRS has always permitted an IRA to make limited partnership investments. As the manager of your Self Directed IRA LLC, the IRA holder will have control over his or her IRA funds so that you will have direct control and the ability to make non-traditional investments, such as master limited partnership investments stated Ms. Ospina. Even though the tax advantages offered by the MLP are not as attractive for a retirement account, a high number of self directed IRA investors are seeking to invest in MLPs to generate higher returns for their retirement funds, stated Ms. Ritsi.

A Self-Directed IRA, also called a Self-Directed IRA LLC with checkbook control, is an IRS approved structure that allows one to use their retirement funds to make real estate and other investments tax-free and without custodian consent. IRA Financial Groups Self-Directed IRA involves the establishment of a limited liability company (LLC) that is owned by the IRA (care of the IRA custodian) and managed by the IRA holder or any third-party. As manager of the IRA LLC, the IRA holder will have control over the IRA assets to make investments, like MLPs and not just investments forced upon you by Wall Street.

With a self-directed IRA with checkbook control established through IRA Financial Group, an investor is able to use retirement funds to make MLP investments penalty free. Some investors have also used Roth IRA funds to make MLP investments so that any future distribution of investment gains will be tax-free.

The IRA Financial Group was founded by a group of top law firm tax and ERISA lawyers who have worked at some of the largest law firms in the United States, such as White & Case LLP, Dewey & LeBoeuf LLP, and Thelen LLP.

IRA Financial Group is the market’s leading checkbook control Self Directed IRA Facilitator. IRA Financial Group has helped thousands of clients take back control over their retirement funds while gaining the ability to invest in almost any type of investment, including real estate without custodian consent.

To learn more about the IRA Financial Group please visit our website at http://www.irafinancialgroup.com or call 800-472-0646.







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