Frequently Asked Questions

Using the eQRP

Can I use debt in my investments from my plan?

Yes, qualified debt is permitted. Qualified debt is any debt that is non recourse used to purchase assets for the plan.

Using the eQRP

Are there any restrictions on what type of property you can invest in?

There are no restrictions. You can invest in any type of property you would like, as long as you don’t already own it or derive any current benefit from it.

Using the eQRP

How can I invest in real estate with a QRP?

The same way you’d invest in any real estate. Once you have the QRP set up you’ll have total control of your funds so anything you want to invest in you simply write a check. If you want to invest in something requiring debt you can do that as long…Click for more

Using the eQRP

Can my QRP purchase real estate I already own?

No, you must purchase real estate initially with the plan. You can purchase new real estate with your retirement plan, but if you already own the property, there is nothing to purchase, you own it.

Using the eQRP

Do I get complete checkbook control of the plan assets?

Yes, since you are able to serve as the administrator you select who will sign the checks for the accounts the plan holds. You would normally be the check signer. This is probably the most significant benefit of the QRP, it doesn’t require you to hire a bank or trust company…Click for more

Rollover

What if I retire early from my job, can I take my 401k or Profit Sharing out early and roll it over into the QRP?

Yes. This is a perfect example of where the rollover allowances are so helpful. You can roll over any retirement account into an equal account.

Payments

If I have an existing 401k or IRA from an old employer, can I roll that into the new plan?

Yes. There are no taxes to pay or penalties if it is an in-kind roll over.

Rollover

What type of retirement accounts can I rollover into my new QRP?

You can roll most IRA, SEP IRA, SIMPLE IRA (after 2 years),ROTH IRA (only into a Roth QRP, 457(b), 403(b), Profit Sharing and other QRP’s into your QRP. An IRA can be rolled into a QRP if the funds in it were rolled over from a previous 401k, 403b or…Click for more

Using the eQRP

Who can I invest with, are there any restrictions?

Anyone except disqualified persons. These include: -Spouses -Parents and Grandparents -Your Children -Spouses of your Children -Corporations in which you own at least half of the stock -Someone who provides services to the plan (eg. your stock broker) -Someone who makes investment decisions on your behalf

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