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IRA FAQs - Loans

Can I roll over the outstanding loan balance from my retirement plan into an IRA?

IRAs (including SEP-IRAs) do not permit loans. If this transaction was attempted, the the IRA could be disqualified.


The bank refuses to give a loan from my SEP - isn't it required to allow loans?

Your account in a SEP, SIMPLE IRA or SARSEP plan is an IRA, and no type of  IRA can permit loans.

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Page Last Reviewed or Updated: 18-Aug-2014