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Prohibited Transactions [2018]
Presentor: David.Schultz Recorded Date: 2/22/2018 Duration: 100 Min.

This program was recorded during a live presentation given on February 22, 2018 at 12:00PM EST.

The penalties for engaging in a prohibited transaction can be costly, so understanding the rules is important for anyone working with retirement plans. With the final fiduciary regulations creating new potential prohibited transactions for retirement plan professionals and the electronic filing of the Form 5500 making it easier for the government the tools to quickly identify potential prohibited transactions, the risks to plan sponsors and the retirement community have never been greater. Accordingly, practitioners need to have a fundamental knowledge of the prohibited transaction requirements. In this web seminar, the speaker explains the structure, sanctions, purpose and exemptions.

Topics include:

  • Who is a disqualified person/ Party-in-interest?
  • What transactions are prohibited?
  • Self-dealing
  • Sale or exchange
  • Participant loans
  • Prohibited transaction exemptions
  • Discrete prohibited transactions
  • Service provider fee disclosures
  • Final fiduciary (conflict of interest) regulations
  • Calculation of the excise tax
  • Qualifying employer securities

There are no prerequisites and no advance preparation required for this program. However, the instructor assumes participants have a basic familiarity with 401(k) plans, including classic safe harbor plans.

Level: Intermediate. Instructional Delivery Method
Group – Internet-Based

NASBA Field of Study: Taxes

Speaker: David Schultz, J.D.

Objectives: At the conclusion of the seminar, attendees should be able to:

  • Identify a disqualified person and a party-in-interest
  • Explain the tax consequences of engaging in a prohibited transaction
  • Determine which types of transactions are prohibited
  • Identify exemptions to the prohibited transaction requirements
  • Explain the breadth of the prohibited transactions requirements to a plan sponsor
  • Advise plan sponsors how to properly remedy prohibited transactions

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