eilano Posted June 21, 2001 Posted June 21, 2001 Plan terminated and is currently being audited. All assets have been distributed except for some artwork that they were unable to sell through various dealers and auctions. In order to expedite closing out the plan, could several employees of the TPA purchase the artwork from the client or would this be considered a prohibited transaction.
AndyH Posted June 21, 2001 Posted June 21, 2001 It would be a PT. The plan could apply for a PT exemption.
Guest b2kates Posted June 21, 2001 Posted June 21, 2001 How did plan do final return, if the artwork was not sold or appraised?
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