Unlocking the process - Guide to ERISA individual prohibited transaction exemptions
By EsqSocial Corporation 21/01/21
From 1996-2020, the US Department of Labor granted more than 1,200 individual exemptons from the ERISA prohibited transaction rules. One of the distinctive features of ERISA is its prohibition, in ERISA section 406 as a matter of positive law and Internal Revenue Code section 4975 through an excise tax regime, of (i) a wide range of specified transactions between a covered ERISA plan or IRA and a far-reaching group of ostensible “insiders” to those arrangements (“parties in interest” or...
By: Eversheds Sutherland (US) LLP