QRP(Qualified Retirement Plan)
I heard that there is a type of account called QRP, which is as per ERISSA Code of 1974.
I was told that it is far superior to a Self Directed ROTH IRA and scores big time over the latter in that:
* You do not need any Adminstrator and you you can be your own Adminstrator for a QRP.
* You can contribute upto $49K per year as against the 5 to 6.5K in a Roth.
* QRP is Judgment / Bankruptcy / and even IRS PROOF.
Could you please let me know how to open such a QRP?
Thanks and Best Regards.
P J Ram
Here’s what I could find on QRP. Looks like it’s just a 401k type plan.
You can go to a bank to set one up, or if you have employees, most payroll providers can set up your 401k plan. We recommend Gusto as a low cost payroll option that offers retirement plans. Here are some articles that may help.
You must be logged in to reply to this topic.
Not signed in?
Sign in to participate on our website!
315 Madison Avenue, 24th Floor
New York, NY 10017
Disclaimer: We spend hours researching and writing our articles and strive to provide accurate, up-to-date content. However, our research is meant to aid your own, and we are not acting as licensed professionals. We recommend that you consult with your own lawyer, accountant, or other licensed professional for relevant business decisions. Click here to see our full disclaimer.
Product or company names, logos, and trademarks referred to on this site belong to their respective owners.