Fit Small Business: Get Your Business Into Shape! › Forums › Small Business Finance Forum › I am helping a mutual client who is working with Guidant. › Reply To: I am helping a mutual client who is working with Guidant.
Yes, you’ll have to setup a 401k for your C Corporation before you can receive your retirement funds into the business. The IRS and DOL essentially allow this rollover because it’s creating jobs and benefiting employees. It’s also rolling funds over directly to another 401k account. The Account is then buying shares from the business, which is when the business receives the money. You can’t complete the ROBS transaction without a 401k, even if you’re the only employee.