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#2044335 - 10/15/15 01:02 PM IRA accounts as loan collateral
Trees Offline
Power Poster
Joined: Apr 2005
Posts: 4,013
We know that there are implications for someone giving their IRA accounts as collateral, from a tax perspective and this may explain why banks won't take them, however, we were wondering if there are any regulations that actually prohibit taking them?
Thank you.

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General Discussion
#2044339 - 10/15/15 01:09 PM Re: IRA accounts as loan collateral Trees
rlcarey Online
10K Club
rlcarey
Joined: Jul 2001
Posts: 78,649
Galveston, TX
Yes. It disqualifies the IRA.
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#2044342 - 10/15/15 01:13 PM Re: IRA accounts as loan collateral Trees
Elwood P. Dowd Offline
10K Club
Elwood P. Dowd
Joined: Aug 2001
Posts: 21,939
Next to Harvey
"Prohibited transaction."
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In this world you must be oh so smart or oh so pleasant. Well, for years I was smart. I recommend pleasant.

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#2044472 - 10/15/15 05:55 PM Re: IRA accounts as loan collateral Trees
el guapo Offline
Gold Star
el guapo
Joined: Jul 2004
Posts: 345

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