Tax Facts

3983 / What exemptions to the prohibited transaction rules are provided by the Internal Revenue Code?

The IRC lists specific exemptions from the broad prohibited transaction rules. These include:

(1)  the receipt of benefits under the terms of the plan;

(2)  the distribution of the assets of the plan meeting allocation requirements;

(3)  loans available to all plan participants or beneficiaries under certain circumstances (see Q 3984);

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