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.

Stay connected with us on Twitter and LinkedIn. Article ideas and other suggestions should be sent to tballard@pyapc.com. Include the name and contact information (phone and email) for follow-up.