ForumsReal Estate InvestmentsCan Iuse solo 401k to invest in foreign real estate?

Forums Solo 401k Real Estate Investments Can Iuse solo 401k to invest in foreign real estate?

  • Top SubjectSolo 401k,Real Estate Investments
    Top ForumsSolo 401k, Real Estate Investments

    Sarah T
    Top SubjectSolo 401k,Real Estate Investments

    April 20, 2024 at 4:03 pm

    Can Iuse solo 401k to invest in foreign real estate?

    Sarah T
  • Mark Nolan

    Top SubjectSolo 401k,Solo 401k Contributions
    Top ForumsSolo 401k, Solo 401k Contributions

    Mark Nolan

    Mark Nolan

    Top SubjectSolo 401k,Solo 401k Contributions

    April 20, 2024 at 4:07 pm

    Yes, a solo 401k can be invested in foreign real estate, but it requires following specific rules and procedures. Here are the key points:

    The solo 401k trustee must live in the United States, but the investment in foreign real estate is allowed.

    The property purchase funds must flow directly from the solo 401k bank account to the seller, not through your personal bank account.

    The solo 401k funds may also be sent to another bank account for making the foreign real estate investment as long as the bank is a US domiciled bank and the bank account is tiled in the name of the solo 401k.

    Going forward, expenses and income would flow through the solo 401k bank account.

    Title would be taken in the name of the solo 401k plan, and the EIN for the solo 401k would be used for reporting purposes .

    It is essential to work with a local attorney in the country where you are buying the real estate to ensure local regulations are followed.

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