In this session we will discuss the key tax and audit considerations (and some Department of Labor considerations) for contributions of property other than cash or employer shares to a qualified retirement plan. Contributing non-cash property to a qualified plan requires a number of steps. Company advisors must consider valuation issues, fiduciary duties, prohibited transaction requirements and unrelated business income tax determinations. At the end of this session the participant should be able to
- Discuss the DOL and IRS requirements for contributing non-cash property to a qualified retirement plan
- Analyze the benefits and limitations of such contributions.
- List the issues that an advisor needs to raise if a client wants to contribute property to a qualified retirement plan.