Can me and my partner take parts of a 401k that I can roll over and co

QUESTION: Can me and my partner take parts of a 401k that I can roll over and combine parts of our rollover to fund our business?

ANSWER: The quick answer is yes, but specifics such as the following apply:

• The existing business must offers goods or services;
• must be converted to a C-corporation if not one already; and
• a valuation must be performed on the business to establish at what price per share the 401k will purchase the stock at.

In sum, these are just some of the basic requirements. To learn more about the process of using retirement funds to finance your existing business, visit 401k business financing.