UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next
Author: katiewa Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 81588  
Subject: link to USC 4975 Date: 4/13/2011 4:37 PM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
For those wanting to read the actual code in its entirety, please see http://www.law.cornell.edu/uscode/26/usc_sec_26_00004975----... Truly thrilling reading--I only made it about half-way through before the words started getting jumbled.

Considering that I have NOT made it to the end, that I have only done one reading, and that I've not yet read all the cross references, there are two sections that caught my attention with regards to the self-directed IRA.

4975(c)(1)(C): Prohibited Transaction--General Rule--For purposes of this section, the term “prohibited transaction” means any direct or indirect...furnishing of goods, services, or facilities between a plan and a disqualified person....

4975(d)(2): Exemptions--Except as provided in subsection (f)(6)[Exemptions not to apply to certain transactions], the prohibitions provided in subsection (c) shall not apply to...any contract, or reasonable arrangement, made with a disqualified person for office space, or legal, accounting, or other services necessary for the establishment or operation of the plan, if no more than reasonable compensation is paid therefor....

Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (1) | Ignore Thread Prev | Next


The Retire Early Home Page
Discussion on accelerating retirement day.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.