Total Credits: 5 including 5 Taxes - Technical
When the Bernie Madoff Ponzi scheme manifested devastating investor losses, causation litigation besieged the federal courts. Self-directed IRA account holders ran to the courthouse steps, blaming trustees and custodians for their losses.
Uniformly, the federal courts rejected all self-directed IRA account holder claims. The courts consistently held Section 408 did not create a federal common law cause of action, concluding IRA account holder claims were not afforded ERISA protections. Moreover, the courts rejected state law claims that adhesion contract exculpatory clauses should be set aside on public policy grounds. These cases demonstrated the power of “passive custodian” protections.
However, such passive custodian judicial safe harbors create a paradox. How can it be that a passive custodian derives earnings from protected retirement plan assets, while its superior specialized knowledge remains deliberately ignorant about Congress’ Section 4975 impounded risk diversification policy mandate? The short answer is that extant judicial passive custodian protections are an illusion. This webcast resolves the passive custodian paradox by showing self-directed IRA account holders how to properly bring a claim against the custodian under ERISA Section 502(a)(2), notwithstanding adhesion contract exculpatory clauses.
Syllabus
Lesson 1.
Introduction
Lesson 2.
Self-Directed IRA Litigation Lessons
Lesson 3.
Sec. 4975 Contextual Qualification
Lesson 4.
Sec. 4975 Risk Diversification
Lesson 5.
Custodial Liability Exposures
Lesson 6.
Custodial Liability Management
Lesson 7.
Conclusion
**This course is approved by the IRS. The submission of a completed request form, found under the materials tab, is required for credit. Please send completed form to leighanne.conroy@acpen.com.
*Recognize how self-directed fiduciaries, custodians, and administrators correctly comply with Congress’s Section 4975 impounded management and investment risk diversification policy requirements
*Correctly recognize how the five deadly sins and three punishments derived from self-directed fiduciary, custodian, or administrator duty to assure non-discretionary Section 4975 impounded management and investment risk diversification policy compliance results in strict liability and do not require Dura disaggregation
*Recognize the correct policies, procedures, and practices self-directed retirement plan fiduciaries, custodians, and administrators necessary to achieve Section 4975 impounded management and investment risk diversification policy compliance
*Self-directed IRA account holder Bernie Madoff litigation strategy errors
*Section 4975 contextual qualification of ERISA
*Implications of Section 408 impounding the totality of Section 4975 without limitation or qualification
*Section 4975 impounded management and investment risk diversification policy compliance requirements
*The Five Deadly Sins causing self-directed retirement plan fiduciary, custodian, or administrator strict liability
*The Three Punishments imposed on self-directed fiduciaries, custodians, or administrators for failing to assure Section 4975 impounded management and investment risk diversification policy compliance
*Self-directed fiduciary, custodian, or administrator polices, procedures, and practices necessary to assure Section 4975 impounded management and investment risk diversification policy compliance
Jenkins_Credentials (0.09 MB) | 5 Pages | Available after Purchase |
Resolving_the_Passive_Custodian_Paradox_Slides (0.92 MB) | Available after Purchase |
Resolving_the_Passive_Custodian_Paradox_Table 1 (0.11 MB) | Available after Purchase |
Resolving_the_Passive_Custodian_Paradox_Article (0.27 MB) | Available after Purchase |
IRS CE Credit Request form (0.15 MB) | Available after Purchase |
Important CPE Credit Instructions_READ BEFORE WEBCAST UPDATED (0.47 MB) | Available after Purchase |
David Randall Jenkins, Ph.D., received his doctorate in accounting and a master’s in accounting with an emphasis in tax from the University of Arizona. He has taught financial, managerial, and tax accounting courses at both the graduate and undergraduate levels. Dr. Jenkins is an AACSB academically qualified business school and tax professor owing to his peer reviewed journal article publications. His company, Algorithm LLC (algorithm-llc.com), is an IRS Approved Continuing Education Provider. Dr. Jenkins may be contacted at tucjenkins@aol.com.
This webcast is an intermediate continuing education webcast.
It is assumed the webcast participant has achieved the following related Algorithm LLC webcasts in advance of this webcast:
None
CPAs, Attorneys, Enrolled Agents, Enrolled Retirement Plan Agents, Self-directed Retirement Plan Fiduciaries, Custodians, and Administrators, Self-directed Retirement Plan Account Holders
04/26/2016
No
Randall Jenkins
04/17/2016
Please contact Anne Taylor for any complaints. anne.taylor@acpen.com, (972-377-8199).
Business Professionals' Network, Inc. is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
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