Just don’t do it – Prohibited transactions in qualified plans can affect plan participants
Abstract: The IRS prohibits certain transactions between a retirement plan and a disqualified person. Why do you need to know this? Because these unlawful actions could potentially have adverse effects on your plan and plan participants. This article highlights the most common types of prohibited transactions and what you should do to avoid them. A sidebar discusses one of the most common prohibited transactions in qualified plans: untimely deposits.