Dennis G. Posted August 8, 2014 Posted August 8, 2014 I'm a TPA with a one participant DB plan. The participant is the plan sponsor, trustee, and participant. He is asking me if he could take part of his plan assets and purchase a property he owns as an individual. On it's face it sounds like a prohibited transaction. Can this be done?
John Feldt ERPA CPC QPA Posted August 10, 2014 Posted August 10, 2014 Self-dealing is a prohibited transaction.
masteff Posted August 11, 2014 Posted August 11, 2014 Send him this link and point him to the first bullet point under #4. http://www.irs.gov/Retirement-Plans/Plan-Participant,-Employee/Retirement-Topics---Prohibited-Transactions Kurt Vonnegut: 'To be is to do'-Socrates 'To do is to be'-Jean-Paul Sartre 'Do be do be do'-Frank Sinatra
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