Prohibited transactions definedQuestion What are prohibited transactions in a retirement plan?
Answer Prohibited transactions in a retirement plan are any dealings between employers and the plan, such as certain loans, sales, and other transactions between these parties. Prohibited transactions result in penalties and even in plan disqualification.
Brain Trust contributor:
Author of J.K. Lasser's Small Business Taxes 2007
Related Categories: Accounting, Finance, Taxes, Financial Planning, Human Resources, Legal, Retirement And Exit Strategies
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