Prohibited Transaction Penalties Most of the prohibited transaction rules are very similar between Self Directed IRAs and the Strategic Affluence 401k.

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Presentation transcript:

Prohibited Transaction Penalties Most of the prohibited transaction rules are very similar between Self Directed IRAs and the Strategic Affluence 401k. This material is copyright © 2013 by SSEN LLC and is used under license by Strategic Affluence LLC. This presentation is not to be construed as legal or professional advice and is subject to terms and conditions posted at

Prohibited Transaction Penalties But the good news is there is a HUGE difference in the penalties incurred between a Self Directed IRA and the Strategic Affluence 401k… This material is copyright © 2013 by SSEN LLC and is used under license by Strategic Affluence LLC. This presentation is not to be construed as legal or professional advice and is subject to terms and conditions posted at

Prohibited Transaction Penalties One small mistake in an IRA can cause the entire account to be “fully distributed” and therefore ceases even to BE an IRA… the punishment is SEVERE! This material is copyright © 2013 by SSEN LLC and is used under license by Strategic Affluence LLC. This presentation is not to be construed as legal or professional advice and is subject to terms and conditions posted at

Prohibited Transaction Penalties But with the Strategic Affluence 401k, one slight mistake won’t cause the entire plan to be distributed. Instead, there are a number of safety nets built into this plan that allow it to be more forgiving. This material is copyright © 2013 by SSEN LLC and is used under license by Strategic Affluence LLC. This presentation is not to be construed as legal or professional advice and is subject to terms and conditions posted at

Prohibited Transaction Penalties An unintentional mistake may create a penalty tax on the amount involved in the specific transaction, but the entire plan is not distributed if you make the corrections in a timely manner. This material is copyright © 2013 by SSEN LLC and is used under license by Strategic Affluence LLC. This presentation is not to be construed as legal or professional advice and is subject to terms and conditions posted at

Correcting A Mistake So what do you do if you discover a mistake you have made with your Strategic Affluence 401k? This material is copyright © 2013 by SSEN LLC and is used under license by Strategic Affluence LLC. This presentation is not to be construed as legal or professional advice and is subject to terms and conditions posted at

Correcting A Mistake There are a number of programs from the IRS or the Department of Labor that can help you fix these issues for a reasonable fee. This material is copyright © 2013 by SSEN LLC and is used under license by Strategic Affluence LLC. This presentation is not to be construed as legal or professional advice and is subject to terms and conditions posted at

Correcting A Mistake You can review the procedures for correcting mistakes in your Self Directed Plan under the Voluntary Fiduciary Correction Program on the Department of Labor’s website. This material is copyright © 2013 by SSEN LLC and is used under license by Strategic Affluence LLC. This presentation is not to be construed as legal or professional advice and is subject to terms and conditions posted at

Correcting A Mistake In our ongoing coaching calls, we will be available to provide you the information you need should you ever need such a service due to a mistake. This material is copyright © 2013 by SSEN LLC and is used under license by Strategic Affluence LLC. This presentation is not to be construed as legal or professional advice and is subject to terms and conditions posted at