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IRA CD as Loan Collateral
by Dan Persfull, BOL Guru
Guru Bios
Question: Can an IRA CD be used as collateral for a loan?
Answer: IRS Publication 590 lists the prohibited transactions for a tradtional IRA on page 41. Among the items listed are borrowing money from it and using it as security for a loan.
First published on BankersOnline.com 7/17/06
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