Fully Formed: Prohibited transactions must be reported on Form 5500
Los Angeles partner Fred Reish published his latest “Just out of Reish” column in the March 2013 issue of PLANSPONSOR.
Plan committees must review their 408(b)(2) disclosures to form a “reasonable belief” that the disclosures were properly made. Without taking this step, it will be difficult to complete and file Form 5500 and problematic to respond to the auditor’s requests. This column focuses on the fiduciary duty of plan sponsors to prudently evaluate disclosures from their advisers.*
The material contained in this communication is informational, general in nature and does not constitute legal advice. The material contained in this communication should not be relied upon or used without consulting a lawyer to consider your specific circumstances. This communication was published on the date specified and may not include any changes in the topics, laws, rules or regulations covered. Receipt of this communication does not establish an attorney-client relationship. In some jurisdictions, this communication may be considered attorney advertising.