RITA IRA Institute Spring Session A Focus on Self Directed IRA Administration and Investments

Transcription

1 RITA IRA Institute Spring Session A Focus on Self Directed IRA Administration and Investments Classes will be held at: Millennium Trust Company 2001 Spring Rd. Lower Level Oak Brook, IL (630) For out of town students: Accommodations at Doubletree by Hilton 1909 Spring Rd. Oak Brook, IL Lunch will be provided on Wednesday and Thursday. Wednesday, Sept. 5, :30-8:30 am Continental Breakfast 8:30-9:00 am Welcome, Introduction, review schedule, designations, test and Brief History of Self-Directed IRAs-Mary Mohr 9:00-9:45 am The Basics of PTs-Mat Sorensen What is a Prohibited Transaction (PT)? Disqualified persons Companies that are disqualified Per se Prohibited transactions Per Se court cases 9:45-10:00 am Break 10:00-10:15 am Extension of Credit and non-recourse loans Extension of credit PTs-Mat Sorensen Non-recourse loans Personal Guarantees 10:15-10:45 am Self-dealing transactions and case review-mat Sorensen Self-dealing definition Self-dealing between IRA owner and a company where he works

2 Self-dealing in a company where IRA owner owns less than 50% Significant Self-dealing cases explored 10:45-11:15 am The Consequences of a Prohibited Transaction-Mat Sorensen Disqualification Rules Excise tax penalty rules Traditional IRAs versus Roth IRAs 10% penalty rules Accuracy related penalty PTs engaged in by the IRA Owner PTs engaged in by a person other than the IRA Owner. Consequences for Qualified Plans Statutes of limitation 11:15-12:15 pm Advanced PTs-Mat Sorensen Exclusive benefit rule-mat Step Transaction/DOL Bulletin-Mat The Plan Asset Rules-Tom Anderson 12:15-1:15 pm Lunch Break 1:15-2:00 pm Small Group Interactive Sessions (page 7 IRA textbook) Real Estate-Tom Anderson Purchasing real estate with an IRA Non-recourse loans and real estate Multiple owner titling options Leasing and management issues Methods to manage property owned by an SDIRA IRA/LLC structure for real estate Real estate Development and short-term flipping 2:00-2:30 pm Promissory Notes-Tom Anderson Note/loan Investments with a SDIRA Secured Notes Note secured by real estate

3 Notes secured by personal property Unsecured loans Avoiding PTs Property/Equity participation in notes 2:30-2:45 pm Break 2:45-3:30 pm Private Equity, Startups-Mat Sorensen The significance of the Swanson case (Sorensen p.175) IRA investment in company where disqualified persons are existing owners (Sorensen p.141) IRA investment into Companies where disqualified persons are officers, directors or employees (Sorensen p. 144) 3:30-4:00 pm Crowdfunding, Hedge Funds, LLCs, LPs, multi-member LLCs-Mat Sorensen IRA investments into Hedge Funds or private offerings Investments in Hedge funds when Disqualified person is part of management IRA investments in High-risk classes of private equity Considerations when an IRA owns High-risk classes of stock IRS on Roth IRA value shifting IRA investment in crowdfunding offering 4:00-4:30 pm IRA/LLC Structure 4:30-5:00pm Hellweg and Ellis cases (Sorensen p ) The IRA owner/disqualified person as manager Extent of Services Provided by IRA owner Getting Money into/out of the IRA/LLC Tax Reporting for the IRA/LLC Administrative Benefits of the IRA/LLC Asset Protection Advantages of the IRA/LLC Personal Liability Multi-Member IRA/LLC Structure (Sorensen p.199)

4 Ownership Allocation Tax Reporting Getting Money into a Multi-Member IRA/LLC Structural Options for Multi-Member IRA/LLC DOL Advisory Opinion A Co-Investment Rule 5:00-5:30 pm UBTI and UDFI issues-mat Sorensen Dinner on your own Thursday, Sept. 6, :30-8:30 am Continental Breakfast 8:30-9:00 am Recap/Questions and Answers 9:00-10:30 am Precious Metals-Scott Schwartz Historical Perspective of Precious Metals Terminology of Precious Metals Popular Bullion Products Allowed in IRAs Gold, Silver, Platinum, Palladium The Parties and the Process involved 10:30-10:45 am Morning Break 10:45-12:00pm Special Considerations and Operations Compliance- Mary Mohr Administrative Review Fair Market Value Disclosures Privacy Policy Disclosures USA Patriot Act/AML Disclosures Opening Account Procedures, TISA Disclosures Risk Mitigation 12:00-1:00pm 1:00-2:00pm Lunch Break Special Considerations and Operations Compliance Preparing for an Examinations

5 2:00-2:30pm 2:30-4:00pm Bank Secrecy Act and Anti-Money Laundering Large Currency Transaction Reporting Suspicious Activity Reports Customer Identification Programs Small group work sessions and reports Fraud Prevention-Mary Mohr Scope of Investment Fraud Who are the targets? What is a Ponzi scheme? Self-directed accounts as fraud targets Anti-Fraud Checklists SEC Investor Alert Handouts: Resources 4:00-5:00 Review for Test, Questions & Answers-Mary Dinner on your own Friday, Sept. 7, :30-10:30 Test