H2 rollover 401k funds into my start-up co. 401k and use proceeds allowed?
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upr_wis_rvr_yacht_club asked:
Is there a way to set up a new “C” Corp with an accompanying 401k plan, roll the proceeds from an existing 401k into new “C” Corp. 401k plan, have the new “C” Corp. 401k plan buy shares of stock in my “C” Corp, and then use the “paid in capital” from the “C” Corp’s 401k plan purchase of “C” Corp stock to fund ongoing business operations?
Question posted courtesy of: Antonio
Is there a way to set up a new “C” Corp with an accompanying 401k plan, roll the proceeds from an existing 401k into new “C” Corp. 401k plan, have the new “C” Corp. 401k plan buy shares of stock in my “C” Corp, and then use the “paid in capital” from the “C” Corp’s 401k plan purchase of “C” Corp stock to fund ongoing business operations?
Question posted courtesy of: Antonio
