Alex Daisy Posted October 11, 2010 Posted October 11, 2010 A custodian is charging a Plan an Asset Based Fee, but it's NOT a transactional fee deducted from participant accounts Instead, the fees are assessed against the unit values of each fund that a participant holds assets in. Is this considered Direct or Indirect Compensation for Schedule C reporting?
My 2 cents Posted October 11, 2010 Posted October 11, 2010 My vote is that non-explicit fees of that sort are indirect compensation, and represent probably the biggest reason that reporting of indirect compensation is now required. Always check with your actuary first!
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