Visitor Monitoring

Call : 1.800.454.2649


Gold IRA, image of hands holding gold coins

Search Our Site

Bookmark

National Association Of Financial And Estate Planning is a BBB Accredited Estate Planning Management Company in Salt Lake City, UT


What is a mySOPSM

(my Stock Ownership Plan)

A Employee Stock Ownership Plan, referred to after this as "mySOPSM", is a form of a 401(k) plan setup for your own C-corp. The mySOP's purpose is to purchase the shares of your own C-corp. This structure is designed to get cash from a 401(k) or IRA into a corporation. This is necessary in order for start-ups, small businesses or cash strapped companies to tap cash from employee pension accounts.

Click Here for an Overview Presentation on the mySOPSM

Benefits of the mySOPSM:

  1. Allows for cash to be placed into a company without it being a loan
  2. Eliminates many of the prohibited transaction problems when conducting business
  3. Provides capital for start-ups or other cash strapped businesses
  4. Provides for recourse loans when non-recourse loans are not available or practicle
  5. Can be used in conjunction with a standard 401(k) or stand-alone

How does the mySOPSM work?

  1. Create a C-Corp
  2. Establish the mySOPSM
  3. Roll money into the mySOPSM (from a IRA or former employer's 401(k))
  4. Purchase shares of your C-Corp. This places the cash inside of the business

Strategies for using the mySOPSM:

  • Purchase real estate when only recourse loans are available
  • Provides cash for starting a business and/or buying a franchise
  • Provide capital for a struggling or cash poor business

Click here for a Overview Presentation on the mySOPSM

Professionals and Members Click Here to view the Self Directed 401(k) page for professionals.

For more information call:

Ben Barker
Phone:(801)266-9900 X -113
E-mail: ben@nafep.com