The process begins with establishing a new corporation using the proper legal structure to support the establishment and operation of the company's qualified retirement plan.
To avoid early withdrawal penalties and preserve tax-deferred status, a new retirement plan is created for which you'll move your existing funds. We will customize your plan, taking into account the needs of your business and employees.
After the corporate retirement plan is in place, you'll need to identify an appropriate plan custodian. This custodian creates the new account according to the plan's design and specifications. If you're rolling over funds from a 401(k), your plan custodian will work with you to fill out temporary IRA documents, although you will have to initiate the rollover. If funds are being rolled from an existing IRA, your plan custodian will initiate the movement of those funds.
The rollover funds can now be invested in the newly formed C Corporation by purchasing stock in the corporation. The stock purchased by the plan is credited to your account based on your investment decisions. You have the capital to start, purchase or recapitalize your new small business or franchise.
"This outfit is A+! . . . Every step was clearly communicated and there was never a question as to what was coming next. The entire process was quick and painless.”
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Our mission is to make every Benetrends client our champion. For over 35 years, our Rainmaker Plan® has been tested and proven to work, providing a means for more than 17,000 entrepreneurs to achieve their dreams of business ownership, creating both jobs and prosperity. We are so confident in the Rainmaker Plan design that we stand fully behind our work, backing every client with our Rainmaker Guarantee.
Information provided by Benetrends Inc. is not intended to be used as legal or accounting advice, or as the sole basis for investment decisions, nor should it be construed as advice designed to meet the particular needs of an individual investor. Please seek the advice of legal or tax professionals, as appropriate, regarding the evaluation of any specific information, opinion, advice or other content.
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