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Self-Directed Defined Benefit Plans: The #1 Strategy

If you would like to get your own custom illustration, just click on the link below: https://www.emparion.com/free-cash-ba... If you would like schedule a free 30-minute call to review your situation, click on the following link: https://appointmentforyou.as.me/FreeI... We get asked all the time about self-directed defined benefit plans. This is certainly an option. But business owners looking at this structure should certainly way the extra cost an administrative tasks involved. But the advantages to these types of plans still exist. You can essentially use a self-directed defined benefit plan to invest in real estate, bitcoin, cryptocurrency, hard money loans, private notes, hedge funds, syndications, and almost any type of investment that you want with a few restrictions. But just because you can do some thing doesn’t mean you should. You’ll have to open up a separate account and track the valuations of assets. You should have year-end appraisals on those assets to make sure that the actual valuations are accurate. You also will need to have an account at a bank to be able to use to fund the plan. If you go up to your local bank branch they typically won’t be able to help you out because they don’t understand the structure. That’s why we will typically send people to Solara bank or titan bank. These banks are used to setting up self-directed IRA’s, self-directed IRA’s and can also handle self-directed defined benefit plans and self-directed cash balance plans. If you’re considering a self-directed defined benefit plan you need to be careful with all the other compliance requirements. Assuming you invest with nonqualified assets, you’ll need to do the full 5500 form. You won’t have an option to do a schedule S form SF or 5500 easy. Because of the nonqualified investments, you’ll either need to have bonding or an audit of the plan. An audit typically doesn’t make a lot of sense because it can cost $5000 or more. So the next option is to go with bonding. Bonding does sound like a challenge but in reality it’s a rather simple processed and relatively inexpensive. If you want to get a bond for one year it might cost you $500. However if you get a five-year bond it might only cost you $1000. So you can see the longer you go out and ponding the more it makes sense. Self directed defined benefit plans and cash balance plans can make a lot of sense. But there are a few obstacles in your way and you have to define if you if it makes sense for your investment profile.