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Michael Richline
Member since: 2025-01-20
Michael Richline
Michael Richline 18d

I recently found out, there is a program called ROBS "ROBS" stands for Rollovers as Business Startups, a financial strategy where you use funds from your existing retirement accounts (like a 401k or IRA) to invest in a new or existing business, typically by forming a C-corporation You then issue stock from your newly created Corp and sell it to your 401k/IRA. You can use these funds that end up in the corporate bank account for "legitimate business expenses". So say one has some Bitcoin sitting in an IRA at somewhere like Unchained. What's to stop that person from selling their BTC for cash and then moving that cash over to their newly created corporation through the ROBS process and turn around and start a Bitcoin Treasury for the company? You end up funneling your Bitcoin tax and penalty free into your company. Anyone see any holes in this idea? Another note, I plan on spinning up a new company to purchase another company anyway. So there's no additional cost involved in this process except maybe the time to get it all setup properly.

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