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Problematic Self-Directed Retirement Activities Series - Session 3: Prohibited Transaction Chinese Walls


Total Credits: 2 including 2 Taxes - Technical

Average Rating:
   4.6
Category:
ACPEN Industry Institute |  ACPEN Tax Institute |  IRS Approved |  Tax
Faculty:
David Randall Jenkins, Ph.D.
Course Levels:
Intermediate
Duration:
2 Hours
Product Type:
On Demand
License:
Access for 1 year(s) after purchase.


Description

A Prohibited Transaction Chinese Wall (PTCW) is not a tax planner’s privilege but a retirement plan public policy compliance necessary condition.   Congress enables PTCW creation by and through management risk diversification policy compliance and a properly invoked plan asset rule exception.  Then and only then may Section 4975(c)(1)(A), (B), or (C) self-dealing activities be transformed into incidental benefits.

Lesson 1.

Peek and Ellis

 

Lesson 2. 

Stephenson and the Plan Asset Rule

 

Lesson 3.

Prohibited Transaction Chinese Walls

 

Lesson 4.

PTCW Investment Structures

 

**Please Note:  If you need credit reported to the IRS for this IRS approved program, please download the IRS CE request form on the Course Materials Tab and submit to leighanne.conroy@acpen.com.

Basic Course Information

Learning Objectives

*Recognize the Peek Tax Court’s decision substantively requires correctly achieving management risk diversification policy compliance before accessing plan asset rule exception targeted benefits is enabled  

*Recognize the Ellis Tax Court’s decision substantively requires correctly achieving management risk diversification policy compliance before accessing plan asset rule exception targeted benefits is enabled  

*Recognize the Stephenson decision’s substantive holding means a correctly invoked plan asset rule operating company exception denies ascribing its underlying assets as plan assets and creates a Prohibited Transaction Chinese Wall (PTCW)  

*Recognize a PTCW correctly renders specifically proscribed self-dealing activities as generally infeasible on the PTCW’s exogenous side because there are no plan assets there  

*Recognize a PTCW correctly renders specifically proscribed self-dealing activities as generally feasible on the PTCW’s endogenous side because there are yet plan assets there  

*Recognize plan asset rule exceptions correctly include, inter alia, the operating company exception and the de minimis interest exception  

*Recognize whether plan entity investment correctly complies with Section 4975 impounded management risk diversification policy requirements  

*Recognize whether management risk diversification policy compliant plan entity investment properly invokes a plan asset rule exception  

*Recognize whether a Prohibited Transaction Wall has been correctly created between the plan’s entity investment interest and the entity’s underlying assets  

*Recognize whether Section 4975(c)(1)(A), (B), or (C) self-dealing activities have correctly transitioned to incidental benefits  

*Recognize when Section 704(b) transaction structures are correctly formulated they result in lower equity costs of capital while comporting with Congress’s retirement plan and going concern productivity policy objectives  

*Recognize when PTCW transaction structures are correctly formulated they result in transitioning proscribed self-dealing activities into incidental benefits


Major Subjects

*The Peek decision’s implications for management risk diversification policy compliance  

*The Ellis decision’s implications for management risk diversification policy compliance  

*The Stephenson decision’s implications for transitioning proscribed self-dealing activities into incidental benefits  

*Properly creating Prohibited Transaction Chinese Walls through management risk diversification policy compliance and properly invoking a plan asset rule exception  

*Direct versus indirect plan asset rule exception requirements


Course Materials

Faculty

David Randall Jenkins, Ph.D.'s Profile

David Randall Jenkins, Ph.D. Related seminars and products


David Randall Jenkins, Ph.D., received his doctorate in accounting and a master’s in accounting with an emphasis in tax from the University of Arizona. He has taught financial, managerial, and tax accounting courses at both the graduate and undergraduate levels. Dr. Jenkins is an AACSB academically qualified business school and tax professor owing to his peer reviewed journal article publications. His company, Algorithm LLC (algorithm-llc.com), is an IRS Approved Continuing Education Provider.  Dr. Jenkins may be contacted at tucjenkins@aol.com.


Additional Info

Basic Course Information

Original Recording Date

08/03/2015


Date Added to Catalog

07/31/2015


Prerequisites

Participants in this lecture should have some basic understanding of:  Partnership capital account accounting,  Partnership capital account account methods, and Partnership tax law


Advanced Preparation

Review the Course Materials


Designed For

CPAs, Attorneys, , Enrolled Agents, Other Tax Professionals


Course Developer

David Randall Jenkins, Ph.D.


Yellow Book

No


Additional Information

Instructional Delivery Method

Group Internet Based


Complaint Resolution Policy

Please contact Anne Taylor for any complaints.  anne.taylor@acpen.com(972-377-8199).


Official Registry Statement

Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org


Promo Video

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Total Reviews: 5

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