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Subject:  Re: Private Company Shares/IRA Date:  9/19/2006  10:40 AM
Author:  jrr7 Number:  188 of 315

Is this doable without paying an early withdrawal penalty - and, if so, how would it be done?

1. You must find a bank or broker who is willing to act as the IRA custodian for the shares. These typically charge several hundred dollars a year in fees.
2. You must transfer funds from the FolioFN IRA to the new custodian.
3. You must direct the custodian to buy the shares--you must not participate in the transaction yourself.

FolioFN will probably charge you a transfer fee and an account closing fee. Check your fee schedules.

As long as the money goes from IRA to IRA, there is no early withdrawal penalty.

However I am not a lawyer or a tax expert and I suggest that you consult with one before embarking on this project.

For more info you can ask on the "Retirement Investing" board:
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