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UTRF, Kennerly Montgomery holding ROBS workshop

UTRF NewThe University of Tennessee Research Foundation (UTRF) and the law firm of Kennerly Montgomery present Rollover Business Startups (ROBS) – a free educational program. Students, faculty, entrepreneurs, start-up company executives, investors and their advisors are welcome to attend.

The event will be held from 11 a.m. to 1 p.m. on March 22 at the UT Business Incubator, 2450 E. J. Chapman Drive.

When properly structured, ROBS allow entrepreneurs to utilize funds from their 401(k) or other tax-advantaged retirement account to fund a new business (or franchise), buy an existing business, or recapitalize an existing business. ROBS also allow for these funds to be used before a person reaches the age of 59 ½ without paying the usual income taxes and early withdrawal penalties.

UTRF says the program will discuss the structure of a ROBS transaction, the on-going requirements related to a ROBS business, potential hurdles and pitfalls, and the stance of the Internal Revenue Service on ROBS generally. Finally, options and alternatives for financing start-ups using IRAs and qualified plans will be compared.

To register, click here.


Tom Ballard

By Tom Ballard, Chief Alliance Officer,
Pershing Yoakley & Associates. P.C.

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