Please choose the correct ending to complete the given sentence: Finance and Business: [header] How to use pensions for collateral loans [title] Determine what type of retirement plan you have. [step] Look at any retirement plan documents you have to determine if your plan is a 401 (k) or an ira. If you have an ira, you cannot use your retirement plan as collateral for a loan.

Ending1: [substeps] Offshore retirement plans typically do not allow tax liens. If you have an ira, however, you have to report your income and assets to the irs. Ending2: However, if you have an ira, you can use your retirement plan as collateral. To determine what type of tax plan you have, call https: // irs.gov/irs.html. Ending3: The irs considers this to be a " prohibited transaction. " you also cannot borrow from your ira. Ending4: Instead, your plan could be about half as good as your current 401 (k). [substeps] Other specific retirement plans in the u.s.

Answer format: ending1/ending2/ending3/ending4