At the end of September 2021, Jason Debono, president at NuView Trust Co., discussed the new tax changes in the $3.5 trillion infrastructure bill proposed to the House and how those changes would affect those in the alternative asset space, specifically those dealing with retirement accounts investing into alternative assets.
“There is a lot of information in there to digest, but I want to highlight a few areas of major concern for those of us that are in the alternative asset space, specifically those dealing with retirement accounts investing into alternative assets,” says Debono.
He continues to explain that there are two provisions in the bill. Section 138312, the prohibition of IRA investments condition on account holder status. This section outlines and prohibits on a go-forward basis any IRA holder from investing into any private offering that has an accredited investor requirement.
“It appears that impacts both the federal accredited investor and s
