Self-Directed IRAs and Unusual Investments: Prohibited Transactions, RMDs, Valuation Issues, and Correcting Errors

Strafford

This webinar will detail self-directed IRA (SDIRA) requirements, including allowable investments, required minimum distributions, valuation issues, and prohibited transactions. Our panel of federal tax experts will review relative court cases and PLRs and offer advice for correcting past IRA errors.
Description

Most taxpayers purchase stocks, bonds, and mutual funds in their retirement accounts. Taxpayers often use SDIRAs to buy alternative investments, including cryptocurrency, land, hedge funds, or racehorses. SDIRAs are subject to the same rules under Sections 408 and 408A as other IRAs; however, complying with these rules is usually more difficult for SDIRAs. Finding a custodian, valuing the assets at year-end, and making required minimum distributions can all be problematic.

Since SDIRAs are often funded with larger and more complex investments, they are targets for IRS scrutiny. Numerous court cases and PLRs detail prohibited transactions, including self-dealing that can negate the IRA subjecting the taxpayer to taxes and penalties on the entire investment. Individuals and tax practitioners need to understand how to contribute to SDIRAs without running afoul of these guidelines.

Listen as our panel of retirement plan experts explains how to benefit from alternative IRA investments while meeting current compliance requirements.
Outline

• SDIRAs: introduction
• Unusual investments
  • Cryptocurrency
  • Coins
  • Land
  • Other
• Valuation issues
• Prohibited transactions
• Required minimum distributions
• Correcting IRA errors
• Court cases and PLRs
• Best practices

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