Prohibited Transaction definition

Prohibited Transaction has the meaning set forth in ERISA Section 406 and Code Section 4975.

Prohibited Transaction means a transaction described in Section 406(a) of ERISA, that is not exempted by a statutory or administrative or individual exemption pursuant to Section 408 of ERISA.

Prohibited Transaction means any transaction set forth in Section 406 of ERISA or Section 4975 of the Code.

Examples of Prohibited Transaction in a sentence

• At least twenty-one (21) days prior to the deadline for filing the Final Approval Motion, the Independent Fiduciary shall have approved and authorized in writing the Settlement in accordance with Prohibited Transaction Exemption 2003- 39, “Release of Claims and Extensions of Credit in Connection with Litigation,” issued December 31, 2003, by the United States Department of Labor, 68 Fed.

• The Depositor understands and acknowledges that the Plan can lose its exemption from federal income tax if the Depositor and/or the Depositor’s beneficiary engages in a “Prohibited Transaction.” If any other “Disqualified Person” engages in a Prohibited Transaction with The Plan, the Disqualified Person will be subject to an excise tax equal to 15% of the amount involved each year until the transaction is corrected.

More Definitions of Prohibited Transaction

Prohibited Transaction means a transaction that is prohibited under Section 4975 of the Code or Section 406 of ERISA and not exempt under Section 4975 of the Code or Section 408 of ERISA.

Prohibited Transaction means any transaction described in (a) Section 406 of ERISA that is not exempt by reason of Section 408 of ERISA or by reason of a Department of Labor prohibited transaction individual or class exemption or (b) Section 4975(c) of the Code that is not exempt by reason of Section 4975(c)(2) or 4975(d) of the Code.

Prohibited Transaction means a “prohibited transaction” within the meaning of Section 406 of ERISA or Section 4975 of the Code for which neither a statutory exemption, an individual exemption nor a class exemption has been issued by the United States Department of Labor.

Prohibited Transaction means any transaction that is prohibited under Code Section 4975 or ERISA Section 406 and not exempt under Code Section 4975 or ERISA Section 408.

Prohibited Transaction. The meaning set forth from time to time in the definition thereof at Section 860F(a)(2) of the Code (or any successor statute thereto) and applicable to the Trust.

Prohibited Transaction means any transaction set forth in Section 406 of ERISA or Section 4975 of the Internal Revenue Code of 1954, as amended from time to time.

Prohibited Transaction means any transaction involving any Plan which is proscribed by Section 406 of ERISA or Section 4975 of the Code.