A disqualified person cannot interact with your Self-Directed IRA or be closely associated with an investment for purposes of the prohibited transaction rule.. Below is a list of disqualified people:
You and your immediate family (spouse, parents, and children... but NOT siblings)
Spouses of your lineal ascendants and descendants
A fiduciary like your financial advisor
The IRA’s beneficiary.
If you or your immediate family own or control 50% or more of a company, that company is disqualified from the use of IRA investments.
- Any entity where the IRA owner is an officer, director, or 10%+ partner or shareholder is a prohibited transaction because the IRA owner is a disqualified person to the IRA. For more information, click here.
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