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Found 3 results

  1. Say an individual's self-directed IRA owns a business, and the individual is curious which (if any) services he can provide to the business (ex. offer consulting services). Question is, does this run afoul of the prohibited transaction rules? I'm thinking yes, with respect to Code Sec. 4975(c)(1)(C) - because it would involve a disqualified person furnishing services to a plan asset (akin to the individual being prohibited from providing free labor/repairs to an investment property owned by the self directed IRS). Curious if others agree, or have other thoughts.
  2. A client has insurance in a defined benefit plan which names the sponsor as beneficiary. One of the insureds died and the benefits were paid to the sponsor consistent with the beneficiary designation. Intuitively, I believe that having a beneficiary other than the plan, itself, represents, at minimum, a prohibited transaction. I have been unable to find any citations or guidance to support this. Does anyone have any insight here?
  3. One partner wants to make his elective deferral deposit by transferring title of assets in his brokerage account to the 401k plan. I understand about required contributions having to be made in cash. Seems to me that a deferral is a required contribution in one respect. Would this be permissable? Thanks.
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