With your corporation formed and your Business Funding Trust Plan adopted, your retirement funds now move — rolled over from your existing retirement plan into your plan’s new account.
This is a plan-to-plan transfer, not a distribution . You never take possession of the money, so there is no taxable event, no early-withdrawal penalty, and no taxes due. Your savings — currently at risk in the stock market — are simply repositioned, ready to buy stock in your new company.
Funds move directly from your old plan into your new plan’s bank account.
You never take possession of the money — so no early-withdrawal penalties apply.
The transfer is not a distribution — there is no taxable event, and no taxes are due.
Opened and ready — positioned to purchase stock in your corporation in Step Four.
No. Because it’s a transfer between qualified plans — not a distribution — there is no taxable event. No taxes are due at rollover.
Talk with our team about the options available to you.
