412I PLANS
Because of their large required contributions, these plans work only with established, highly profitable businesses. They usually work best when the business owner is within 10 years or so of retirement and is older than most of the company’s relatively few employees. In addition, the plan cannot make policy loans. Such a loan invalidates the plan altogether. There is no flexibility in investments, because the plan is funded entirely with insurance and annuity contracts. Finally, there may be limitations to the deductions or the amount of insurance that is purchased, and there may be an income component that is recaptured by the business owner.
Posted by Lance Wallach at 2/25/2014 10:27 AM 
Categories: uncategorized
Tags: 412i IRS taxshelters IRS_tax_penalties lance wallach expert witness
Categories: uncategorized
Tags: 412i IRS taxshelters IRS_tax_penalties lance wallach expert witness
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