Self-Directed IRA’s are generally permitted to engage in most types of investments, however, if a Self-Directed IRA engages in certain types of "prohibited transactions" or invests in life insurance or collectibles you may jeopardize the tax-deferred status of your IRA account. This could lead to the disqualification of the IRA and severe tax consequences. Therefore, it is important that you familiarize yourself with the IRA rules.
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Internal Revenue Code Section 408 - IRC provision prohibiting IRAs from investing in life insurance contracts.
- Internal Revenue Code Section 4975 - IRC provision referencing tax on prohibited transactions.
What is a Self Directed IRA? >>> Self Directed IRA Advantages >>> Prohibited Transactions >>> Disqualified Person(s)
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